I know this is the internet so I'm going to try to be thorough without naming names and whatnot. That said, any guidance/help/suggestions would be greatly appreciated.
The bottom line here is I want to get out of a contract I signed after finding out some information after the fact that I just found out a few hours ago, among other information I've come across either in fine print, wasn't made aware of by being physically told, and that I simply didn't read and/or fully understand/realize before signing my signatures on the proverbial dotted line.
The story:
I called a merchant service wanting to be set up with a way to process credit cards, debit cards, and electronic checks, while on the road. A merchant service said it was possible, with a mobile hand-held device they had available and that they could get me all set up over the phone, except that I'ld have to sign the official paperwork at another location. We went over general terms, general costs of operation/set-up and so forth. So I agreed to what was said while asking as many questions as I could come up with along the way. So a couple days later I go to another location to sign the paperwork. I asked a few more questions while there, scanned (by sight) all pages of the paperwork without reading all that was written and electronically signed my signature about 4 times to complete and set in motion the agreement that they had already approved me for.
A few days later the equipment arrives via UPS and I start reading the documentation that came with it. It's then that I'm aware for the first time I did not lease the equipment from the merchant service, but rather from that manufacturer of the machine (the merchant service never told me that would be the case).
With the machine came a whole new terms of service agreement that I had never seen or heard of yet and wasn't mentioned in any paperwork I got from the merchant service's office, yet I've supposedly already signed off on seeing and knowing it via the merchant service.
Before I ever got the machine and found out I wasn't leasing it from the manufacturer, the merchant service told me that at the end of my lease I would own the equipment. The manufacturer of the machine that I'm actually leasing the machine from says I will NOT own it after the lease expires unless I want to buy it at the lowest cost of 3 different scenarios.
When I first spoke with the merchant service, and again later at their office where I signed the paperwork, I specifically asked in itemized fashion if I was correctly understanding all costs to me for use of the service/machine. They said yes to what I specifically mentioned and specifically agreed there were no other costs to consider, but so far in the paperwork I've found at least 2 other expenses that were never mentioned (a surprise to me).
Today I get a letter in the mail (1st correspondence from the manufacturer of the machine/equipment after initially receiving the machine/equipment a few days earlier via UPS) telling me I have to pay even more money to insure the machine which they say is required in order to not be in breach of the lease contract.
Does anyone know if I have any possibility of backing out of this? Couple things to keep in mind; 1)The machine has never been unpackaged. 2)The machine has never been powered on or had the battery installed. 3)The machine has never been activated for use yet (the act of setting it up to operate through cellular towers). 4)There were/are not any up front costs for anything (not a single penny out of my pocket). 5)First lease payment is considered due in February 2014. 6)In the letter I got today from the equipment manufacturer they said if there's anything I didn't agree to with the merchant service that their (sender of the letter I got today) paperwork shows then I should call their toll free number and they would look into my concerns.
That's all I can think of right now. If anyone has questions for further clarification please ask. I'll be happy to answer if I know the answer. Right now I'm a bit worried to put it lightly. I was told things and led to believe things that are not true, yet I've already stupidly signed on the dotted line, and in the mean time (today) have receive more information adding up to further costs and information nobody or any fine print (I've read every last word to this point) covered before I signed. Am I stuck with this thing for the next few years as the lease would suggest, or is there maybe some leeway for me to back out yet relatively unscathed physically (broken kneecaps:() or financially?
Also, who should I 1st contact about settling this; the merchant service who set everything up that's been set up so far, OR, the machine manufacturer who I actually have the equipment lease through?
The bottom line here is I want to get out of a contract I signed after finding out some information after the fact that I just found out a few hours ago, among other information I've come across either in fine print, wasn't made aware of by being physically told, and that I simply didn't read and/or fully understand/realize before signing my signatures on the proverbial dotted line.
The story:
I called a merchant service wanting to be set up with a way to process credit cards, debit cards, and electronic checks, while on the road. A merchant service said it was possible, with a mobile hand-held device they had available and that they could get me all set up over the phone, except that I'ld have to sign the official paperwork at another location. We went over general terms, general costs of operation/set-up and so forth. So I agreed to what was said while asking as many questions as I could come up with along the way. So a couple days later I go to another location to sign the paperwork. I asked a few more questions while there, scanned (by sight) all pages of the paperwork without reading all that was written and electronically signed my signature about 4 times to complete and set in motion the agreement that they had already approved me for.
A few days later the equipment arrives via UPS and I start reading the documentation that came with it. It's then that I'm aware for the first time I did not lease the equipment from the merchant service, but rather from that manufacturer of the machine (the merchant service never told me that would be the case).
With the machine came a whole new terms of service agreement that I had never seen or heard of yet and wasn't mentioned in any paperwork I got from the merchant service's office, yet I've supposedly already signed off on seeing and knowing it via the merchant service.
Before I ever got the machine and found out I wasn't leasing it from the manufacturer, the merchant service told me that at the end of my lease I would own the equipment. The manufacturer of the machine that I'm actually leasing the machine from says I will NOT own it after the lease expires unless I want to buy it at the lowest cost of 3 different scenarios.
When I first spoke with the merchant service, and again later at their office where I signed the paperwork, I specifically asked in itemized fashion if I was correctly understanding all costs to me for use of the service/machine. They said yes to what I specifically mentioned and specifically agreed there were no other costs to consider, but so far in the paperwork I've found at least 2 other expenses that were never mentioned (a surprise to me).
Today I get a letter in the mail (1st correspondence from the manufacturer of the machine/equipment after initially receiving the machine/equipment a few days earlier via UPS) telling me I have to pay even more money to insure the machine which they say is required in order to not be in breach of the lease contract.
Does anyone know if I have any possibility of backing out of this? Couple things to keep in mind; 1)The machine has never been unpackaged. 2)The machine has never been powered on or had the battery installed. 3)The machine has never been activated for use yet (the act of setting it up to operate through cellular towers). 4)There were/are not any up front costs for anything (not a single penny out of my pocket). 5)First lease payment is considered due in February 2014. 6)In the letter I got today from the equipment manufacturer they said if there's anything I didn't agree to with the merchant service that their (sender of the letter I got today) paperwork shows then I should call their toll free number and they would look into my concerns.
That's all I can think of right now. If anyone has questions for further clarification please ask. I'll be happy to answer if I know the answer. Right now I'm a bit worried to put it lightly. I was told things and led to believe things that are not true, yet I've already stupidly signed on the dotted line, and in the mean time (today) have receive more information adding up to further costs and information nobody or any fine print (I've read every last word to this point) covered before I signed. Am I stuck with this thing for the next few years as the lease would suggest, or is there maybe some leeway for me to back out yet relatively unscathed physically (broken kneecaps:() or financially?
Also, who should I 1st contact about settling this; the merchant service who set everything up that's been set up so far, OR, the machine manufacturer who I actually have the equipment lease through?
via Small-Business-Forum.net http://www.small-business-forum.net/starting-your-business/10593-looking-get-out-merchant-services-mobile-set-up-thoughts.html
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