Signed a leasing agreement for credit card equipment. Rep said he would email me a copy of the contract. When he finally did (several weeks later despite repeated requests), I find that the monthly lease rate is way higher than what we agreed on and what I originally signed (and higher than the "industry standard").
They are refusing to cancel the leasing agreement and are preparing for a judicial resolution (all communication is now through their attorney). What cause of action do I have and what is the likelihood that I can win this considering that this seems that it will boil down to he said/she said.
The first payment has already been automatically withdrawn from my bank account. Do I ask my bank to freeze that withdrawal authorization?
Contracts / Agreements Lawyer
This is not acceptable. I suggest that you speak with a local contracts attorney to assist you and protect your rights. You can use Avvo's "find a lawyer" tool to assist you.
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Social Security Lawyers
Yes, you need to change your bank account. Do not let them continue to take money out of your account on a disputed claim. Do not use their equipment.
As a general rule, one party can not change the terms of a signed contact with out the agreement of the other party. However there certainly could be "small print" in the contract that could affect your rights.
You need to contact a lawyer. They have a lawyer in a case that can be rather complex. Do not attempt to handle this on your own.
I am licensed to practice law only in North Carolina. My answer provides only general information. Do not rely on this answer as specific legal advice for your particular situation. This answer does not form an attorney-client relationship. You should consult with an attorney to fully discuss your situation and to obtain advise about your legal rights and obligations.
2 lawyers agree
Construction / Development Lawyer
Yes, you should have your bank immediately revoke the automatic draw authorization or open a new account and close the old one. At that point you need to meet with a business attorney to review your equipment lease, emails back and forth, and any other surrounding documents and give you advice based on that review.
North Carolina has the Uniform Commercial Code, which governs things like equipment leases, sales of goods, negotiable instruments, and personal property financing among other things. That Code contains provisions that most likely deal directly with your situation. We can advise you further on these issues, again after reviewing your documents.
I can't tell from your description whether or not you signed the final version of your contract. A written contract, to be enforceable must be signed by the party to be charged, in this case you. However, a lot may depend on the terms of what you did sign, so a legal review, and representation in litigation by an attorney is well worth it in your situation.
This answer is not legal advice and does not create a lawyer-client relationship. Our answers are for general knowledge only when provided on AVVO. If you desire representation, please feel free to contact us and we can discuss the terms of representation and your matter in greater detail.