16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00126

Submission Number:
543670-00126
Commenter:
Ms Rebecca Houghton
State:
PA
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
I was on the verge of declaring bankruptcy because I had no idea how to get my head above water with finances. Since college I had not been taught the ins/outs of credit cards and loans, and I honestly was not earning enough money as a teacher's aide to pay for my monthly expenses. I decided to seek out Financial Resolutions, and it has been an extremely good decision. The best part of the process is working with the company's representatives. They hvae been very supportive in explaining each step, and I have received a lot of advice regarding how to better manage finances. I strongly feel the short-term setback of allowing loans to default is worthwhile, because thanks to this program I will no longer use credit cards or rely on borrowed funds. I would like to ask the FTC to not regulate debt settlement out of business, as these companies are very helpful in learning how to better manage personal finances.