Forget what you have read everywhere, there is no set path to financial freedom. Debt is specific to everyone and the types of steps you need to take to absolve yourself of it are unique to every person. This is why excellent financial consultancy services are so in demand, they provide customized and tailor-made solutions for every consumer. This also means that the repayment plans provided by the banks, credit companies, and the payday loan firms are not customized according to the individual circumstances. So you need to be very wise about which plan to follow.
This also means that you absolutely should not follow the example of others in the community. If one of your friends successfully navigated the crushing credit card debt without any guidance or your uncle survived bankruptcy gracefully, that is not an endorsement of imitation. Be very sure about the path you want to take. There is no secret shortcut to financial success and whoever tells you there is, is either trying to sell something or lying to you. People often tend to hide their financial difficulties for the benefit of their relatives and acquaintances as well. So keep that in mind.
This advice does not mean that you completely ignore the advice and experiences of those close to you. All we can suggest is that you keep a suitable amount of caution and apprehension in mind. Add your own ingenious touch and the advice of experts before emulating any plan that might have worked for someone else. Remember that your debt is solely your responsibility. Whether the plan works or not, you have to be ready for the consequences. So pick between the options wisely and keep a contingency plan in reserve.
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