16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments #543670-00129

Submission Number:
Mrs. Janet VanOsdol
Initiative Name:
16 CFR Part 310 Telemarketing Sales Rule- Debt Relief Amendments
I,Janet Lee VanOsdol, am sending a personal plea that the FTC not regulate the debt settlement industry. As a client currently enrolled in a debt settlement program I have experienced first hand the full benefit of this service. Prior to enrolling in Debt Reget (the settlement company I use) my husband and I were drowning in debt mostly occurring from many difficult hardships. We did not want to file bankruptcy. We wanted to be responsible and be accountable for our debt. Yet the credit card companies made it extremely difficult by increasing finance charges from 9% to 30% even without us having any late payments. It seemed no matter how hard we tried we couldn't keep up with them..making the minimum payments were out of our reach, thats when we started searching for help. Debt Regret has been such a benefit to us. We are currently settled on 3 accounts and working towards settling the rest. The service they provide is educational and supportive. Their staff steps in and takes on the burden of negotiations and effectively handling the credit card companies for us, so that we don't have to endure the shame and bullying from them. Like I said before we want to take care of our debt but in a fair way. We have the goal to be completely debt free and Debt Regret is our tool to get there. Well