16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00019

Submission Number:
R Brindley
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
In 2007, I had personal debt of close to $200,000 to various credit card companies for which I was unable to meet payment obligations. For various reasons, bankruptcy was not suitable option, however, after research, I discovered and contacted Debt Regret to assist me with settling my outstanding debt. I spoke personnally with their agents and they explained clearly what assistance they could offer me and it's cost. In addition, they explained the range of results I could expect and the ramifications to my credit score and ability to obtain future credit. In light of my circumstances, I felt that their fees were reasonable. To date, I have settled almost 70% of my oustanding debt and paid off approximately 50%. Debt Regret agents have represented me with all of my debt collectors and negotiated all settlements on my behalf, consulting with me before making any committments. Without Debt Regret's invaluable assistance to me in a time of need, I would have been forced to file bankruptcy, and my unsecured creditors to whom I owed the almost $200,000 would have received nothing. Instead, I have been provided an avenue to settle my accounts and pay off my creditors. I therefore ask you to consider my personal story one of a successful relationship with Debt Regret and request that the FTC not regulate debt settlement out of business. Thank you.