There are two options "partial" and "full". The filing of a "full" satisfaction of judgment means there is nothing left to pay.
The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.
It means you can break out the champagne and celebrate because the judgment has been paid in full. :-)
If the plaintiff/judgment creditor recorded any abstracts of judgment (real property liens) in any county/ies, then ask the p/jc for a *notarized* Acknowledgment of Satisfaction of Judgment for each county in which an AOJ was recorded. Then record the notarized ASJ in that/those county/ies to release the liens. The county clerk-recorder will charge you a nominal fee to record each ASJ.
I agree with my colleagues. It means whatever you owe on the judgment is fully satisfied. It means you either paid the full amount, or the judgment creditor agreed to accept something less than the full amount, but the result is the same... you no longer owe anything on that judgment.
The information presented here is general in nature and is not intended, nor should be construed, as legal advice. This posting does not create any attorney-client relationship with the author (who is only admitted to practice law in the State of California). For specific advice about your particular situation, consult your own attorney.