https://ficoforums.myfico.com/t5/Auto-Loans/What-s-the-Difference/m-p/245401#M727 <DIV>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:</DIV><DIV>&nbsp;</DIV><DIV>What is the difference&nbsp;between "paid in full" and "settled in full"? How will this negatively affect my scores, if at all?</DIV> Thu, 22 May 2008 23:22:19 GMT Anonymous 2008-05-22T23:22:19Z https://ficoforums.myfico.com/t5/Auto-Loans/What-s-the-Difference/m-p/245401#M727 <DIV>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:</DIV><DIV>&nbsp;</DIV><DIV>What is the difference&nbsp;between "paid in full" and "settled in full"? How will this negatively affect my scores, if at all?</DIV> Thu, 22 May 2008 23:22:19 GMT https://ficoforums.myfico.com/t5/Auto-Loans/What-s-the-Difference/m-p/245401#M727 Anonymous 2008-05-22T23:22:19Z