I leased a credit card terminal from CIT without knowing about a non-cancelable contract. My sales person disapeared before the terminal was completely set up. Now that I am not in buisness anymore I would like to get out of the payment.
When I called CIT, I found out that I have a four year contract that will cost me $130 per month, $6240, and still owe $4000. The only way to get out of this payment is to pay in full and send the machine back. My boss bought the same terminal online band new for around $300.
There has to be another way out of this. I thought about closing the account since it is the only buisness expence that I have left. I don't know how much trouble this would cause.
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