QUESTION
How can I recover approximately $750.00 from an online credit card processing center who charged me $500.00 to cancel my account with them?
Asked on Aug 30th, 2012 on Business Law - Indiana
More details to this question:
I started a small business and wanted to accept credit card orders online. I only received 1 order in 6 month. I called to cancel the service, which was charging me anywhere from $49 to $79 per month when there were NO transactions. The customer service rep told me that there was a $500 cancellation fee if I cancelled within 1 year. I waited until the end of the year (although I did not recall seeing anything like that) and called again to cancel. I was then told it was a 3 year contract. I became angry, told them to cancel and if they withdrew the $500 I would sue for fraud. They withdrew it and I know that most attorneys do not want such a small case. The company's name is "Merchant Processing Center" in Broomfield, CO. My company is in Indianapolis, IN.
1 ANSWER
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As a threshold matter, you need to review carefully the contract you entered into with this processing firm. Although the charges may seem unfair, they are not going to be recoverable if, in fact, you agreed to pay them. It seems as though you are unfamiliar with the contract. It is either a one-year contract or something else. What, exactly, does it say? What does the contract provide with respect to where and how disputes are to be resolved?
Answered on Aug 30th, 2012 at 5:25 PM