Cooling-Off Rule Regulatory Review
8/12/09 I am writing a comment not as a sales person, nor a sales corporation, but as a daughter of an 83-year old woman who lives alone and was taken in by a less than scrupulous sales pitch. Because of her situation I have learned a lot about the “cooling off rule” which I have to say I knew nothing about but feel is vital to protect some consumers. However, it does not go far enough to protect those that need it the most, especially the elderly and probably the mentally challenged. With the advancement in technology, you might as well say that the above are probably electronically challenged as well. I know my mother does not know what a “fax” or “e-mail” is about and I would certainly not want her out at midnight to have something postmarked. Because of that phone cancellations should be accepted, and companies must have someone available to answer the calls immediately, or have a voice mail capability that a call can be logged in and the call returned within an hour (time negotiable). In my mother’s case, a security system (term used loosely) contract was signed and within a few minutes installers were scrambling around her house, asking her questions that she did not know the answer to, cutting holes in her walls, and letting hot air out of the attic into her house. Then the phone calls started questioning her about the work performed while the work was in progress. Any reputable company would not mind waiting the 3-days before installing a system or devise that is going to require damaging your property. If a system or devise is installed then the cooling off period should be extended to 10-days and a satisfaction guarantee of 30 days.