Complaint / review text:
My credit card processing company, Transfirst in Colorado, called me in June 2009 to tell me that my current processing terminal was outdated and that I need to update to a current terminal to prevent hacking. By law, they said. They offered me a monthly lease for a terminal that they said cost over $2000. I signed up for a 48 month lease at $34.98/month (the rate has increased to $42/month since then). Recently, I switched to anopther credit card processing company because of my outrageous rate of Transfirst. The new company offered me the SAME terminal for a total cost of $99. When I called Northern Leasing to send the terminal back and discontinue the lease, they wouldn't budge, stating I had nine months left and must pay a settlement of $310. Crazy. How do I stop them from ripping me off more than they already have?