Here is a list of 5 different kinds of debt.  Read through them and then answer which one of them is generally the most difficult type of debt to discharge in bankruptcy.

1) Credit Card Debt.

2) Business Debt.

3) Car Loan Debt.

4) Mortgage Debt.

5) Student Loan Debt.

The answer is 5, student loan debt.  Are you surprised by this answer?  After all, isn’t credit card debt usually considered the type of debt that is generally created most often in “bad faith.”  And don’t homes and cars generally have at least some resale value?  In fact, don’t most businesses have some type of resale value? 

Try selling that college diploma.  Sure if you want to get technical you can, over many years through working or using your knowledge.  But if you are really in a bind, and the market doesn’t value your degree, try selling that diploma. 

Of course you can’t.

Student loan debt.  It’s the absolute freaking worst.



Chris Thomas, owner of the online freelance writing and web-copy company, FreelancePF. Chris’s interest in personal finance stems from leaving grad school with six figures in student loan debt.