There are several ways to legally discharge debt!

1. Bankruptcy, bankruptcy is a legal process that can help you discharge some or all of your debts.

2. Debt Settlement: This involves negotiating with your creditors to settle your debts for less than what you owe.

3. Debt Consolidation: This involves taking out a new loan to pay off multiple debts, leaving you with a single monthly payment.

4. Statute of Limitations: In some cases, the statute of limitations may expire on a debt, which means the creditor can no longer legally collect on it.

5. Forgiveness Programs: Some debts, such as student loans, may be eligible for forgiveness programs.

6. Disability Discharge: If you become permanently disabled, you may be able to have your federal student loans discharged.

7. Death Discharge: If you pass away, your federal student loans will be discharged.

Below are the most common cons.

1. Not all debts can be discharged through bankruptcy: Certain types of debts, such as taxes, student loans, and child support payments, cannot be discharged through bankruptcy.

2. Debt settlement companies may not always be legitimate: Some debt settlement companies charge high fees and may not deliver on their promises, leaving you in a worse financial situation.

3. Debt collectors have limitations: Debt collectors are bound by the Fair Debt Collection Practices Act, which prohibits them from using abusive or deceptive tactics to collect debts.

4. Discharging debt through bankruptcy can affect your credit score: Bankruptcy can remain on your credit report for up to 10 years and may make it more difficult to obtain credit in the future.

5. Debt forgiveness can have tax implications: If a debt is forgiven, the amount forgiven may be considered taxable income by the IRS.

It’s important to do your own research and seek the advice of a qualified professional before making any decisions regarding debt discharge. 

It’s important to note that not all debts can be discharged through these methods, and each method has its own set of requirements and potential consequences. It’s important to seek the advice of a qualified professional before making any decisions regarding debt discharge.