Nearly every individual in the USA is dealing with some or other kind of debt. Further, tackling debt is not easy due to the fear of embarrassment. Most of the individuals ignore the warning signs and land in a never-ending debt trap. In such a situation, individuals should seek debt advice from attorneys. Moreover, if you do not have any source of income, it may complicate your situation even further. In such circumstances, it’s even more important to get debt advice and seek debt relief options. However, the problem arises when you get conflicting debt advice.
Conflicting debt advice occurs when the advice you receive from one organization differs from another. It could leave you all the more confused and frustrated. So, it’s important to make the right decision about the debt solution in such a situation.
What is meant by conflicting debt advice?
Conflicting debt advice is a situation that arises when you are suitable for more than a single debt solution. The debt advice provided by one organization or attorney may be in contradiction with other organization. You may be applicable for two or more debt solutions. When a debt advice organization provides debt advice, they gather the statement of your affairs such as monthly income, expenditure, assets, and liabilities. However, the ultimate decision is yours about which debt solution to choose. But it’s also essential that you make the right decision after analyzing all the information so that you feel confident.
What are the reasons for conflicting debt advice?
Debt solution is one of the best ways to help people who are dealing with financial difficulties, but the correct decision is the one that is based on your personal needs and circumstances. There are several reasons that may lead to differing debt advice. More than one debt solution may be suitable for you. For example, if you owe unsecured debt worth $ 10000 and can afford to pay $ 100 each month towards your debts. In such a situation, you may be advised an IVA. This will make you debt-free in 5-6 years. However, you can also enter a debt management plan where you can get debt-free in a time of 6-7 years.
Another reason for conflicting debt advice is the specialization of the companies in one debt solution only. For example, some companies are permitted to provide a debt management plan, and therefore, they will suggest that a debt management plan is the best option for you. This may not be the right solution for you, and hence when you seek advice from another advisor, they may suggest another solution. It’s also extremely important to be aware of the repercussions of each solution as it may affect your employment or housing situation.
Search your options Are you facing an issue of conflicting debt advice and want to find out which debt solution would be right for you? You should speak to friendly and professional debt advice attorneys to better understand the right debt solutions for you in the USA. You can speak to us. We’ll put you in touch with the best debt advice attorneys to ensure that you get the right debt advice.
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