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What's the Difference?

Regular Contributor

What's the Difference?

I have a Cap 1 Auto Loan where the car was totaled in January 2008. Insurance has paid their part and i'm still waiting for GAP insurance to cover the rest. (long story) Cap 1 sent me a letter stating that they would settle the account for 75% of the balance owed and update my credit reports as "settled in full" my question is this:
 
What is the difference between "paid in full" and "settled in full"? How will this negatively affect my scores, if at all?
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599