16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00054

Submission Number:
543670-00054
Commenter:
Mr. Joseph Terry
State:
TX
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
We were suffering out of control revolving debt, and contracted the services of Debt Regret in Dallas, Texas. Our only other option would have ultimately been bankruptcy, and Debt Regret represented a valuable alternative to us. By following the Debt Regret program, we have been able to reach mutual settlements with all of our creditors, which resulted in a win/win/win for all parties. The counselors at Debt Regret were very helpful, and guided us through the process flawlessly. I feel that placing restrictions and regulations on this industry will take away a valuable alternative to bankruptcy, leaving people like me without options in the future, and leaving creditors getting ZERO in collections instead of an opportunity to settle. Making monthly payments to Debt Regret along the way was helpful, and kept me on track in the program. When my last settlement was paid, I was not left with additional payments to Debt Regret, which was good for me and protected them from any risk of default. Sincerely, Joe Terry