New Delhi, May 16 -- Any loan that is marked as 'settled' on your credit report can easily feel like a financial burden lifted off your shoulders, but still, do remember that such a mark on your credit report can continue to cast a long, dark shadow on your credit report for years to come.

This is also a very serious misconception; many borrowers unknowingly presume that once dues are negotiated and paid, the debt-related chapter of the credit card is closed. Still, you should not fall for such misconceptions, because lenders and credit bureaus see the 'settled' and 'closed' mark very differently.

This distinction can have a direct impact on your future personal loans, home loans, credit card applications, and other similar forms of cre...