[Bridezilla Strikes again!]

I've recently had a dispute with a timeshare company for over a year, which never got resolved. It ended with the final "sorry better luck next time".After attempting to sell, rent, give back we just stopped paying. Which means the timeshare goes to foreclosure. We were offered a settlement for 15% of the total balance owed. But it will go on our credit as "Settled for less than full balance". and the 90 days of late payments will stay also.Is foreclosure that much worse, I keep reading "Settled for less than full balance" is almost as bad, and still lasts for 7 years.How does each option affect a credit score, or affect getting a loan in say 3-5 years?The letter in writing says the amount and then " Upon receipt of this amount we will send you the necessary paperwork to release from all obligations to the referenced account, and update your credit file to reflect that this account is satisfied".The person on the one told me it will go on my credit has settled for less than full balance.It is cheaper to just rent a place. Part of our dispute was that we didn't get what we were told we would get, AND we were under their policy age to sign the timeshare. It actually says you must be over 25, and neither of us are 25 yet. But we can't afford to hire a lawyer to fight this anyway.