I believed I was signing a 24 month lease for a credit card machine at $48 per month with very low rates. First the rates went up. Then after paying for 2 years I found better rates and purchased a machine for $600.
I canceled out and then it started.
The phone calls asking for payment on my 48 month lease. If I asked questions or try to dispute, they would hang up and call back. Sometimes 10-15 times each day.
Finally I got someone to send me a copy of the agreement. I could not believe the document. My signature on a 48 month non-cancellable lease for $50 a month and on a personal guaranty. I have been 20 years in business and have never signed a personal guaranty for any business maters.
I asked to buy out the remaining 24 months they wanted $1862.50. My math would put it at $1200. They told me that I had agreed to buy the machine at the end of the lease and that is why it was $1862.50.
Ok now I'm really feeling ripped off. Pay The exact machine I just bought was $600.00 (omni verifone 3750). The calls continued the threatening letters came every 2 weeks. They finally turned it over to a collection company.
I sent them a letter disputing the charges and they wrote it off. This was June. It is now on my personal credit report as a charge off of $1529.00.
I have tried to get it off with no sucess.
Mike
putnam, Connecticut
U.S.A.
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