Rip-Off,
I have a small saddle repair shop, I was considering taking credit cards. I talked to a lady in the bank [ Peoples Bank, in Morehead, Ky] They set me up an appointment with a representative to sign up for a credit card system.
I met this guy on my lunch hour, he explained the system to me: 1] The machine is 567.00 cash or 33.00 a month for 2 years, the processing company will charge 3% of your gross sales, no sales, no charge.
I signed the contract, approximately two months later I received the machine [Fed Ex].
The processing Company [NPC, LOuisville, Ky] Started deducting 27.95 per month from my account as well as NPC 33.57 for the equipment "lease" Payment...
This is 61.52 per month and I've never used any of their services or machine. I closed that bank account and moved to another bank.
Northern Leasing's Gerald Arcelin contacted me and told me I had signed a seven [7] year contract with them at 33.57 per month. He said I owed them 2819.88 but if I would send them 1100.00 dollars they would let me buy-out my contract and no futher action would be forth coming. He was suppose to send me a letter stating the terms and a copy of the contract, which I have never seen. The original guy was suppose to send me one and has not.
I realize I never should have signed anything without reading it, but since my bank had sent this man, I thought I could trust him... Guess I'm truly a dummy. Still I'm ripped off.
Also they want the equipment back as well as the 1100.00.
This in itself is a complete rip-off... Thank You...
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