16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00038

Submission Number:
543670-00038
Commenter:
David Freeman
State:
TX
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
I rencently sought help from a company called Debt Relief as my debts were out of control. I started a business in real estate in 2006 and, like many others, had a hard time. I had to use credit cards to survive and this was complicated by my then 21 year old daughter charging to the max two of my cards. She is now helping pay off my debt as she has grown up quite a bit in three years. The problem was that my credit card companies (Bank of America, Advanta, and Chase all raised my interest up to just under 30%. This was done in each case because I was late once on each just a day or two. I did not think that it was fair and called all three but got nowhere (they did not care). It made it impossible to catch up so I contacted Debt Relief. They have been great and I have already gotten one of these cards halfway paid, and then will work on the other two. I would be in bad shape if not for them. The practices of these banks with their credit customers is really unfair and sometimes the only thing that can keep one from filing bankruptcy is to contact a company like debt relief. Sincerely, David Freeman