The new legislation aims to provide struggling Ohioans an opportunity to settle their debts and regain their financial independence.
Under current law, debt settlement services are banned in Ohio.
"Truthfully, there are many people in Ohio who make money on bankruptcy filings," added Hackett. "Ohio should not seek to drive its citizens into bankruptcy simply because it benefits a particular business model."
The FAIR Act would allow debt settlement advisors to offer their services in Ohio, providing a free-market choice over the only two options they have right now—unending harassment of debt collection or the long-term damage of bankruptcy.