Deciding whether or not to file for bankruptcy protection from your creditors is seldom easy. It is a choice that you should only make after a lot of careful thought and consideration, plus a consultation with a bankruptcy attorney for good measure.
The world of credit can be a very confusing place, and we credit-types tend to speak in acronyms. Many of the terms and these acronyms can sound alike, which only adds to the confusion. In my world, the world of credit reporting and credit scoring, using the wrong word, letter, phrase or acronym can turn a seemingly innocent concept into an inaccuracy.