16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00052

Submission Number:
Mr. Israel Lambert
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
I have been enrolled in a debt settlement program for the past twelve months with a company in Texas by the name of Debt Regret. I spent the better part of ten months researching and considering all options including bankruptcy. With two small children, a 35% drop in pay, a mountain of debt and no way out I chose to partner with Debt Regret. I have since cleared about 75k in debt through settlements based on a rigorous savings plan. I am half way through my plan and am on schedule to finish the program in a total of 24 months. My partners and advocates at Debt Regret have encouraged me, held me accountable and been there every step of the way. I have run into no lies or gimmicks with my representative at Debt Regret. I was properly sold on the non variable fees paid over time and informed of the hit my credit would take, as well as the creditors calls, letters and all the other obstacles facing me along the way. This service has been more than fair and while every company may not operate the way Debt Regret does they set a standard of excellence in the industry. What I think is most important through this program is that my mindset toward debt and credit has changed. I have not used a credit card in over a year. I am being educated on the value money and what I can and cannot afford at 32. Savings, retirement and college planning for my kids are all becoming new goals for me. I did not want the bailout or shame of bankruptcy just a path to settling these debts and moving on with my life. My future has been changed along with my marriage and for that I cannot thank Debt Regret enough.