Perhaps they consider it acceptable, but my bank does not. The wording in the first half is so mealy-mouthed, it makes my account which was paid in full (Not settled) well over a year ago look as if there's still payment pending. After a long phone conversation that ended up with a legal rep on the phone with me, this is the ONLY letter they send, they refuse to provide a payment date or date satisfied, and won't budge on it. Just an FYI, if you're looking for a PIF from Verizon now, this is as close as you will get. Oh, and it will take 24-48 hours.