Settled vs. settled in full
Date: Sat, 05/05/2012 - 20:13
What does "debt settled in full" mean?
It means account paid for less than the full balance.
It means account paid for less than the full balance.
When you satisfy the debt, regardless of whether you pay the ful
When you satisfy the debt, regardless of whether you pay the full amount or "settle" for less, the current status only reads "Paid."
There is no such thing as a current status of Paid in Full.
If you settle the debt for less than the full amount, an additional Special Comment can be reported..."paid/settled for less," informing others that you did not fully pay the entire debt incurred.
"Paid in full" is inferred from the presence of a current status of Paid and the absence of a special comment that the debt was settled for less than the full amount.
