Most unsecured debts can be settled. An unsecured debt is a debt where there is no collateral. Unsecured debts include medical bills, credit cards, personal loans, student loans, and some other bills. There are a few creditors who will never compromise, but most will take a less than full payment as settlement in full to close a troublesome account. Secured collateralized debts, on the other hand, such as a home or automobile, are rarely settled at a discount. Since the creditors can simply repossessed the property securing a loan, why should they negotiate? You might get lucky, though, as some will work with you if you’re having temporary financial trouble. For more information about debt relief, contact an attorney in your area today.