Comment on CFPB-2013-0004-0001

It's pretty simple, like a mortgage, borrowers need to be able to refinance. Extend payment terms and lower interest rate. The lenders will still rake in plenty of profits and borrowers would be able to manage their monthly budgets much more effectively. I was uneducated about the consequences of borrowing so much money. Granted I'm more than willing to own up to my mistakes, but we need help from the other side as well. I won't be able to to afford a house, new car, vacations for the next 15 to 20 years. These are all things that make our economy grow.