I was just talking with a couple Protestant friends about this. One was from a mainline church (Calvinist tradition) and another goes to a “bible chapel” church.
The one that goes to a “bible chapel” said that the Holy Spirit indwells in her heart and guides her to accurate understanding of the bible. She believes that the Holy Spirit will not let her interpret the bible wrong. The Calvinist was willing to admit that they could interpret the bible incorrectly, but mainly because of his own biases.
So here are two examples of places where contradictions showed up between them. The Calvinist believed that a physical baptism was required to go to heaven; the lady from the bible chapel said it didn’t matter; only belief that Christ died for our sins was required. My Calvinist friend basically believed that people are predestined for heaven or hell; while my other friend said that we are guaranteed salvation purely through accepting Christ as our savior. Both were sure of their position based on their interpretation of the bible (n the case of the Calvinist it was also study of other writers). I asked how they dealt with the fact that the there are different translations of the bible that imply different things and their only conclusion was that their bibles were inerrant and other translations must be incorrect.
This is the danger of* Sola Scritura*, everything is up for debate, You pick and chose the bible translation that meets your beliefs. When I asked my friend that went to the bible chapel how Christian could disagree, her only possible explanation was that they had not truly accepted Jesus and therefore the Holy Spirit was not keeping them from misinterpreting the bible.
One side note, I asked them both what happens when their pastor starts preaching about something the don’t believe. The Calvinist said the council of elders could fire them or they would just go to another church that is more faithful to that church’s teachings. The bible chapel friend said they could fire them or if there was just a small group of them they would start a “home church” and share teaching duties among themselves.
The one thing they both seemed to agree on was that Catholics a) don’t read the bible (why would we since we can’t understand/interpret it on our own), b) do what the pope tells them, without thought or question, and c) are being lead astray with “all those silly rules.”