You are sold a merchant account to accept credit cards. The merchant account company arranges for a lease on equipment. You are only informed of the third party lease when you are on the phone with the company to get the terminal online. You accept the lease with monthly payments. Within minutes of acceptance the service is cancelled. The lease company does not care about your service as they claim you have a lease only with them on equipment. The merchant account company and the lease company have knowledge of each other as they are in it together. When you try to resolve the problem neither company can be reached by phone, or certified or registered mail. They target companies who have had terminated merchant accounts. Then your supposed account goes to the collections company Metropolitan Adjustment Bureau. MAB harasses you for years trying to collect the supposed debt for a service not being provided. MAB acknoledges the scam but claims they have an enforceable contract. You have no equipment (in my case I returned it the lease company), and no service. Quite a scam!
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