16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00024

Submission Number:
Victor Villarreal
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
Hello, my name is Victor G. Villarreal and I would like to share my concern and interest in Debt Regret which is the debt consolidation company that I am currently using to help settle my debts. Back in August 2007, I decided to quit my job and go back to school so that I could have a better life for myself and my family. At that time, I unfortunately was not able to predict how bad our economy was going to get. As a result of my pay cut, we were forced to sell our house and move out of town. As you may well remember, this was also the time when the house market went down. We struggled to sell our home and were forced to dip into our saving to avoid foreclosure. As a result, we started to fall behind on some of our debts with credit card companies. To save our credit and not get drowned in bills, we decided to hire a debt consolidation company to help us get back on our feet during these hard times for us. My wife found out about Debt Regret and decided to give them a call to get more information. Once we talked with them, they helped us by giving us an estimation of how much and how long it would take to settle all our debt. They were very helpful and friendly, always gave us all the information we needed, and were always happy to answer all our questions. They carefully explained all the details of what it would take on our part to get out of debt. We were very impressed with what Debt Regret had to offer so we decided to take the next step and sign on with them to help us. As of today, Debt Regret has helped us settle three of our debt accounts. Throughout the process, Debt Regret representatives from different departments have kept us up to date and have always given us the latest status information in our case. I say status because the way that Debt Regret works is that they negotiate with all our bill collectors to try to get us reasonable settlement offers in an attempt to wipe out our entire debt. Both my wife and I would like to express our sincere appreciation to Debt Regret for their outstanding service as well as everything they have done for us. As a result, we would like to request that the FTC not regulate debt settlement out of business as Debt Regret has provided us with a valuable benefit in our time of need. I would like to thank you in advance for your attention and consideration to this request. Respectfully Victor & Zelina Villarreal