Prepayment may also be required if contractors need to secure specific equipment. Organizations should bring in all relevant stakeholders prior to engaging contractors. When stakeholders are aware of workforce plans, they can help craft a strategy to meet business needs in a compliant manner. By being proactive, you also can mitigate the risk of misclassification

Refinancing or consolidating debt into a lower-interest loan may also help if it reduces your monthly interest payments. Another option is working with a financial advisor who can help you create a realistic monthly budget and repayment plan. They can also assist in evaluating and prioritizing your debts while developing a long-term financial strategy. You