payment timeframe for PFD

[manda]

I am going to be sending out 3 PFDs and I am planning on paying the debts with my taxes. I should have my taxes back by next week, but to be safe I wanted to give a payment date 2 weeks out. Is this acceptable or do you need to be able to pay immediately after the PFD is accepted, if it does get accepted?

[Burned2manybridgesB4]

Don't be surprised if accepted, you get a call saying "NOW."
Keep in mind, if/when they are accepted, it can potentially take an average of sixty days to be purged.

Good luck.

[RobertEG]

PFD offers are private negotiations between the consumer and the creditor or debt collector.

You can include any terms that are not contrary to law.

The only "rule" related to PFDs is the CRA policy which states, in effect, that they should never be granted.

However, the CRA policy that dletion should not be granted based on payment of a debt is not a provision of law, it is an internal policy of the CRAs intended to maintain the completeness, and thus value, of the credit reports they sell.

Being as a furnisher might jeiopardize their reproting agreements with the CRAs should their grant of PFDs become an issue with a CRA, they usually take a fairly strict stance of terms they will accept.  Any additional terms beyond full payment upon acceptance may add resistance.