My 48 month lease with Leasecomm was up in Feb of this year. No notification was sent to me but the payments were still taken from my account. When I called them on it they said the contract could not be cancelled and I either had to pay $500.00 for my "virtual terminal" or continue the lease.
So I did some calling around. Seems the "software" for the terminal is NOT EVEN OWNED by Leasecomm as they claim. The company that holds the user name and password no longer deals with Leasecomm because of the bad press. They also said as far as they were concerned the terminal was paid for in full and they no longer claimed it.
Another call to authorize.net confirmed the same thing. Leasecomm OWNES NOTHING. They can't shut me down, and they can't SELL ME anything tangible so the line that you can buy out the contract and own the software is total BS. I also called my merchant bank and they told me Leasecomm had no power to shut down my account.
So I sent Leasecomm a bill for the 8 months I paid for a useless lease and the fight is on. They of course are demanding the buyout or that I stop using my user name and password to process transactions. I told them to pound sand, sue me. If it comes to that I will counter for 10x whatever they come after me for. With the recent FTA fines and all the bad press I don't think a judge will have a problem seeing who is telling the truth here. I run my own shopping servers, web servers etc. So they can't pressure anyone to shut me down. Authorize.net and my merchant bank are happy that I pay the bills each month so it is in there best interest to keep me and tell leasecomm where and how far to stick it.
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