A debt discharge can be a powerful form of relief, but it's not a quick fix, and there are other things to know before pursuing it. Peter Dazeley/Getty Images

For many borrowers, the last few years have been a stressful cycle of rising costs , higher interest rates and mounting credit card balances that won't shrink no matter how diligent you are about making the minimum payments . Part of the issue is that credit card rates are historically elevated , medical costs continue to soar and even utility costs have crept higher. It's no surprise, then, that more Americans are exploring their debt relief options , including bankruptcy, as a way to regain financial stability.

If you've spent any time researching your options , you may have seen the term "debt discharge" co

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