I am a small business owner in San Antonio, Tx. I have run a collectibles shop for approximately 25 years. I recently decided to add the convinience of credit card sales to my customers, something I have avoided for years because of my feelings about credit cards and the high interest rates they charge individuals. But, at the encouragement of friends and family, I became interested in finding a good source to start.
As it turned out, I was called one afternoon by a company and was asked if I was interested in getting set up for prossesing credit card transactions. I made an appointment and was told I would be contacted by their local representative. I had no idea how they knew about my interest or where they got my information, but I assumed my wife had made an iquiry on a web site or such.
Several days later, I had a visitor knock on my door at my home. He introduced himself as Ebe Bowman, a representative of TransTech Merchant Group. I told him I was on my way to the shop and he could meet me there. When we arrived at my shop he began explaining his system and some of the facts about credit card use and how no one in any retail business should be with out the ability to process cards as it would greatly increase their business. I listened intently, in between customers and my employee. Mr. Bowman kept talking and when he announce how his system worked over the phone line, I immediately explained that I had no land lines in my shop, so he began talking about his newest product, a wireless machine.
I listened to his explaination, I heard him say the cost was $99.95 per month for five years, I heard him say that there was a one time $50 fee for activation of the machine. I thought that it all sounded expensive but as it would increase my business, and also allow me to take crdit cards at the few out of town shows that I did, it was reasonable.
As we spoke, I noticed he was filling in information on a form, and at the end of our conversation he mentioned an "uncancellable contract". I had never heard of such a thing, but the excitement of being able to take credit card transactions and increase my sales was what I was thinking.
I signed two different forms, one in two places.
I was a fool, and at that point I was trapped in a vice that would cost me over $6,000 and open my family checking account for several different companies to drain with a myriad of fees and charges that had never been discussed.
Less than 30 days later, I am left with a machine that I must cancel in writing to avoid their $25 monthly fee and $99 yearly fee. The other $99.95 monthly fee is NON CANCELLABLE and I will have to pay $6,300 before it is over.
My complaints are many, but I made the mistake by signing a contract that is air tight with no legal way out. I was duped into trusting that this Mr. Ebe Bowman was an honest individual, but on later examination, I find that he never mentioned all the expenses incurred with such a transaction, he kept repeating the $99.95 monthly fee, and the uncancellable contract, and I believed that was all the was involved. I was wrong.
I was never offered an opportunity to read the fine print on the document I signed, but on complaining about all the extra charges involved, I was told, "you could have asked to read the contract." Fine, I should have asked to read the contract, but I had to use my reading glasses and a magnifying glass to see all the fine print when I did read said contract after I had signed.
I was bamboozled, and I am left paying $111 a month for 5 years and having to cancel the actvation on the wireless machine to avoid even more charges.
Ripped-off, yes I think so. I am writing this to inform others, if the contract says UNCANCELLABLE, don't sign it until you have read and understand everything.in fact, have and attorney read it and explain it to you, BEFORE YOU SIGN.
Companies that use this type of contract know what they are doing, their sales people are trained and taught a sales pitch that seems credible. They are experts at duping the public and small businesses, they are thieves and scoundrels. And the worst part, they are making millions of dollars from people who are trying to make an honest living in a small business by using existing American Laws to cheat and steal.
I could continue writing more, there is more to explain, and much more to say, but my main concern in writing this is to let people know that these kind of preditory organizations exist and their methods are legal and inforcible by U.S. Courts.
It should be a crime, but it is not. Don't be fooled like I have been.
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