Most unsecured debts settle for 30% to 60% of the balance, with the average landing around 48% according to industry data from the American Association for Debt Resolution. But that range is wide because a lot of factors affect your specific number.

Type of creditor matters most. Original creditors (the bank or credit card company you actually borrowed from) tend to settle for 40% to 60%. They'd rather get something than sell the debt to a collector for pennies. Debt buyers who purchased your account for 4 to 10 cents on the dollar will often accept 20% to 40% because almost anything above their purchase price is profit.

Age of the debt: The older the debt, the cheaper the settlement. A debt that's 6 months past due might settle for 50% to 60%. A debt that's 2 years old and already been sold to a collection agency might settle for 25% to 35%. As the statute of limitations gets closer, creditors become more motivated to take what they can get.

Your financial situation: If you can demonstrate genuine hardship (job loss, medical emergency, disability), creditors are often more willing to accept a lower amount. A creditor would rather get 35% from someone who genuinely can't pay than push that person into bankruptcy where they might get nothing.

Lump sum vs. payment plan: Offering to pay the settled amount in one lump sum almost always gets you a better deal than asking to pay in installments. A creditor who might accept 40% as a lump sum might want 55% if you need to pay over 6 months. Cash in hand is worth more to them than a promise of future payments.

Some real numbers by creditor type: Credit card companies typically settle for 40% to 55%. Medical debt collectors often accept 25% to 50%. Personal loan settlements range from 30% to 50%. Private student loan settlements are tougher, usually 50% to 70%, though they sometimes go lower for very old accounts.

One thing to understand: these percentages are based on the current balance, not the original amount borrowed. If your $10,000 credit card balance has grown to $14,000 with interest and fees, a 50% settlement means $7,000, not $5,000.