16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00022

Submission Number:
Alan Scott
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
It has come to my attention that your agency is considering heavy oversight and regulation of the Debt Settlement industry. While the need for consumer protection is paramount, some of your proposed actions could put many beneficial and legitimate companies out of business. I am a client of Debt Regret, Inc located in Addison, Tx. When the debt load (our fault entirely) became too much to handle, we looked for an option to filing bankruptcy. That's when I found Debt regret. In the almost 3 years that we have been clients, this company has provided insight, advice, and liaison services. Because of their efforts, I have paid off one of my creditors, and am on the way to paying the rest. I have found that the customer service representatives are not just concerned about monthly deposits into my payoff account -- but genuinely concerned for our well being. It was my settlement counselor who made several suggestions on how I could pay for my daughter's education. Please don't take any actions that could hurt my relationship with Debt Regret -- or any other persons' relationships for that matter. Over regulation is the best way to run an industry into the ground. My only option before settlement was to file personal bankruptcy. Now that I have settled, and am moving towards more settlements, I feel better about myself as a person...knowing that I didn't take the easy route. I am more than willing to provide further input should you desire it. Please contact me IAW the information below if I can be of help. Alan D. Scott