Merimac Capital / Non-authorized deduct from checking account
I unknowingly found out that the company I leased my equipment through had a non-cancelleable 48-month lease term -- supposedly.
Not even a week after obtaining my equipment I discovered a much cheaper way to process cards that made much more sense for my business. I thought I could cancel, and signed on with the new company with a knuckle buster system set up to call in my transactions from my personal cell phone -- not such a big deal as Merimac made it sound. They also insisted that I would have much higher fees with a knuckle-buster system. True, but the cost of the cheaper system far outweighs the monthly fees they are charging just to LEASE their equipment!
I SENT THE EQUIPMENT BACK, never opened it, never turned it on, never even processed a transaction. They are insisting that I am BOUND by the terms and that I must pay-off the remainder of my lease, even though I returned the equipment. This amounts to over $2, 700. The unit doesn't even cost this much if you purchase it out-right.
When I tried to put a stop-payment on the bankdraft, they reacted with debiting my bank account for $595, then again later for $795, all without telling me or giving me warning that they were going to do so.
In order to get this fraudulent activity to cease, I was forced to close that account and open a new one. When I did that it finally got their attention and they suddenly began to correspond with me in a much more calm manner, but still insist that if I don't pay that they have a right to take me to court.
I am now trying to get set up my online bill pay with payments that I send as I am able to pay them on a monthly basis. Do I even have an obligation to pay them anymore since I don't even have the equipment in my possession?!!