We signed a "non-cancellable" lease with Vericomm for a credit card terminal that we desperately needed for our small business. We tried to read and understand the small, fine print of the lease but were unable to understand all of it. We just needed to be able to run credit cards for our customers. The contract that we signed was for $109.95 per month for 48 months. We had to agree for them to take the $109.95 from our bank account.
However, we are being charged two payments of $50.88 and two payments of $130.25, which add to $362.26. We do not understand why they are taking $252.31 per month more than we contracted for, which is over $12,000 per year and $48,000 over the life of the lease difference than what we bargained for.
We have tried on numerous occasions to contact Vericomm and discuss this discrepancy with them. They have been nothing but rude and condescending to us. They make us wait more than one hour to speak to the right person and then that representative cannot explain the discrepancy. They simply tell us that we are in a non-cancellable lease" with them and that we are paying for 3 credit card terminals for 48 months. We have tried to explain to them that we only have one credit card terminal and that they are taking the wrong amount out of our bank account but they will not listen to us.
Is there anything we can do to get out of this lease? We are more than happy to pay for the services that we use, but simply do not make enough money in the small engine repair services to pay more than $12,000 a year for something we neither bargained for nor use.
Small Engine Shop Reviews
We signed a "non-cancellable" lease with Vericomm for a credit card terminal that we desperately needed for our small business. We tried to read and understand the small, fine print of the lease but were unable to understand all of it. We just needed to be able to run credit cards for our customers. The contract that we signed was for $109.95 per month for 48 months. We had to agree for them to take the $109.95 from our bank account.
However, we are being charged two payments of $50.88 and two payments of $130.25, which add to $362.26. We do not understand why they are taking $252.31 per month more than we contracted for, which is over $12,000 per year and $48,000 over the life of the lease difference than what we bargained for.
We have tried on numerous occasions to contact Vericomm and discuss this discrepancy with them. They have been nothing but rude and condescending to us. They make us wait more than one hour to speak to the right person and then that representative cannot explain the discrepancy. They simply tell us that we are in a non-cancellable lease" with them and that we are paying for 3 credit card terminals for 48 months. We have tried to explain to them that we only have one credit card terminal and that they are taking the wrong amount out of our bank account but they will not listen to us.
Is there anything we can do to get out of this lease? We are more than happy to pay for the services that we use, but simply do not make enough money in the small engine repair services to pay more than $12,000 a year for something we neither bargained for nor use.