In July a man from a company called "Merchant Services" approached us saying he could get our small business better credit card processing rates than the company we were using. We signed an uncompleted contract with them, according to the salesperson's directive that it'll be filled out by the company and sent to us. (Subsequently the contract was filled out with un-agreed upon terms.)
At the same initial meeting we were told to lease equipment from Merchant Service's collaborating company; MBF Leasing. Again, we were made to sign a blank contract, which was later filled in with un-agreed upon terms. After some time, we realized we were paying 4 times more than we had been before for the processing fees and we would pay approximately $5,000 for a credit card terminal worth less than $700. We cancelled all services but they continued to automatically deduct our bank account.
Finally, we were able to put a stop payment on the transactions, but a series of harassing phone calls numerous times a day and several letters in the mail followed. Research was done and we realize that we are one of hundreds of small businesses that have been hit by MBF Leasing (and all related companies). These companies work together to scam small businesses. They are now negatively affecting our credit report.
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