GOT SCAMED,can U help?

Discussion in 'Credit Talk' started by kev, Dec 11, 2000.

  1. kev

    kev Guest

    Saved message

    I made a very bad investment! What do I do? I signed up with a company who charged $1400 for a web site and merchant account. They give you the swiper machine to take credit cards over the phone and online if you set it up.
    Basically the charge is only for the equiment. It was a good little scam. I bought the hipe! Now I've had the "equiment" for about six months and have not used it yet. I asked the company if I turn it back in what would happen. They told me I would have to pay $4500 in stead of the
    $105 each month for 48 months.   Some companies pay you $500 to take the swiper. My credit was good at first. What can I do, I had to stop paying them. I couldn't afford to keep paying them, can you help me? I have a thirty day late, then I will have a sixty. Is there any way I can stop these from staying on. What should I do?

    GEORGE Well-Known Member

    All I can see is try to re-sell the thing???
  3. kev

    kev Guest

    It's not worth $4500! Some companies pay you $500 to take the thing! I just don't want it on my credit!
  4. Creditinsi

    Creditinsi Guest

    Hi Kev:

    Sorry to hear about this!!! A lot of good people have fallen for this merchant account scam, the truth is that you should NEVER pay for a leased merchant account, you can purchase it upfront for less than $400 with no monthly payments or equipment you'll never need, but of course some merchant account providers looking for a quick buck will never tell you this.

    Anyways Kev, the big problem here is that you signed a contract for that lease, so legally you're stuck with the responsability, now contracts are not my specialty so all I can tell you is to consult a professional legal advisor on this matter, they can probably provide you with the most accurate advice.

    Good luck to you and PLEASE remember to fully read and understand the fine print on every document/contract prior to signing.

  5. Indnewssrv

    Indnewssrv Guest

    If you signed a lease? Did you read the term of the lease?Were you told or not told some or any specific details?If you can prove that you were not specifically told some or any can get out of it.If you "knew" what you were getting basically have to suffer the consequences.Either way put all paperwork together and try to remember what you were told..and what they told you from day one.Good luck

  6. Wizardca3

    Wizardca3 Guest

    Take a look at usury (sp?) laws in your state and the state that the "company" is incorporated in or operates from to see if these types of fees are permissable...Would u be so kind as to share the name and location of this company that scammed you. Thanks in advance
  7. kev

    kev Guest

    Company name is Online Exchange,,then go
    to the marketing plan or 2+2, wich is the network part of the marketing plan. They are based in St.Louis, MO.
    Thank you for advice.

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