Keep in mind that settling will not help your fico score. It will be simply marked as paid and possibly a note added stating settled for less which can be frowned upon by potential lendors.
PFDs are usually most successful when offering the full amount. I had one successful pfd offer for a payment arrangement for a 5k loan. I basically offered to pay 1800 a month for 3 months to pay it off for the pfd. It was removed.
What I'm saying is that they want to see it wiped out fast or right away for a pfd.
