16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00079

Submission Number:
Ian Lanpher
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
I am writing on behalf of Debt Regret, which has been a great help to me and provided me another option to bankruptcy. I was in a situation where two of my credit card companies raised my rates to 30% apr for no reason as I had never been late. At that time my wifes income had decreased a great deal due to the death of one of her clients as well we lost our live in daycare forcing us to seek outside childcare. So at a time when our income was declining and our expenses were increasing, credit card companies decided to make consumers like myself pay for their mistakes in lending and then turn to American taxpayers once again with their hands out. Not only were they abusing their relationship with me as a consumer but now as a taxpayer. Debt Regret gave me an opportunity solve these challenges while keeping our dignity and avoiding bankruptcy. We have been able to settle one debt for 25% of what I owed. We are still working on the final one which seems to be more challenging but I am confident they will be able to use their resources to resolve this soon. As someone who has benefited from this service I ask that you refrain from putting limitations on this organization. There should be more limitations put on lenders who take advantage of consumers.