On May 22, 8:50 pm, MagikLair <newsletterexcha...@gmail.com> wrote:
> On May 22, 7:54 pm, Jerry Stuckle <jstuck...@attglobal.net> wrote:
>
>
>
> > MagikLair wrote:
> > > Hello,
> > > I have a merchant account with CTS Holdings LLC .and they have been
> > > absolutely lousy. They don't respond to my phone calls, email
> > > nothing... I'd like to cancel, but there is an early termination fee
> > > of $300. I do not think this company should be rewarded for lousy
> > > service etc. They have some prohibited transactions that would cause
> > > immediate cancellation of an account. If I said that I did one of
> > > these prohibited transactions and the account was canceled. Would I
> > > still have to pay an early termination fee? Yes I understand, it
> > > doesn't sound like the *best* way to do things... Any feedback would
> > > be appreciated
> > > Thanks,
> > > Brian
>
> > Brian,
>
> > Get your attorney to document the problems you've been having in a
> > letter and send it to them. You'll be amazed how quickly that gets a
> > response.
>
> > --
> > ==================
> > Remove the "x" from my email address
> > Jerry Stuckle
> > JDS Computer Training Corp.
> > jstuck...@attglobal.net
> > ==================
>
> I apologize for the double post. I read the merchant account
> agreement.http://www.vagnavs.com/cts_agreement.pdf
> 16 Early Cancellation Fee
> 16.1 If (a) you elect to cancel this Merchant Application and
> Agreement prior to the expiration of the initial thirty-six (36)
> month
> term, or (b) this
> Merchant Application and Agreement is terminated by us prior to the
> expiration of the initial term due to an Event of Default, we will
> suffer a substantial injury for which it is impracticable or
> extremely
> difficult to fix actual damages. In an effort to liquidate in advance
> the sum that should represent such damages, you agree to pay us as an
> "Early Cancellation
> Fee" in the amount of three hundred dollars ($300.00). This sum
> represents a reasonable pre-estimate of the losses that we will incur
> as a result of the cancellation of this Merchant Application and
> Agreement prior to the expiration of the initial term of the Merchant
> Application and Agreement.
>
> But if they terminate it for prohibited transactions, I do not see
> any
> mention of any early cancellation fees.
> thanks,
> Brian

ok, I found out what I needed to know here.
http://www.findmerchant.com/merchant...t_tmf_file.htm

--


"MagikLair" <EMAIL REMOVED> wrote in message
news:EMAIL REMOVED oups.com...
| On May 22, 8:50 pm, MagikLair <newsletterexcha...@gmail.com> wrote:
| > On May 22, 7:54 pm, Jerry Stuckle <jstuck...@attglobal.net> wrote:
| >
| >
| >
| > > MagikLair wrote:
| > > > Hello,
| > > > I have a merchant account with CTS Holdings LLC .and they have been
| > > > absolutely lousy. They don't respond to my phone calls, email
| > > > nothing... I'd like to cancel, but there is an early termination
fee
| > > > of $300. I do not think this company should be rewarded for lousy
| > > > service etc. They have some prohibited transactions that would
cause
| > > > immediate cancellation of an account. If I said that I did one of
| > > > these prohibited transactions and the account was canceled. Would I
| > > > still have to pay an early termination fee? Yes I understand, it
| > > > doesn't sound like the *best* way to do things... Any feedback
would
| > > > be appreciated
| > > > Thanks,
| > > > Brian
| >
| > > Brian,
| >
| > > Get your attorney to document the problems you've been having in a
| > > letter and send it to them. You'll be amazed how quickly that gets a
| > > response.
| >
| > > --
| > > ==================
| > > Remove the "x" from my email address
| > > Jerry Stuckle
| > > JDS Computer Training Corp.
| > > jstuck...@attglobal.net
| > > ==================
| >
| > I apologize for the double post. I read the merchant account
| > agreement.http://www.vagnavs.com/cts_agreement.pdf
| > 16 Early Cancellation Fee
| > 16.1 If (a) you elect to cancel this Merchant Application and
| > Agreement prior to the expiration of the initial thirty-six (36)
| > month
| > term, or (b) this
| > Merchant Application and Agreement is terminated by us prior to the
| > expiration of the initial term due to an Event of Default, we will
| > suffer a substantial injury for which it is impracticable or
| > extremely
| > difficult to fix actual damages. In an effort to liquidate in advance
| > the sum that should represent such damages, you agree to pay us as an
| > "Early Cancellation
| > Fee" in the amount of three hundred dollars ($300.00). This sum
| > represents a reasonable pre-estimate of the losses that we will incur
| > as a result of the cancellation of this Merchant Application and
| > Agreement prior to the expiration of the initial term of the Merchant
| > Application and Agreement.
| >
| > But if they terminate it for prohibited transactions, I do not see
| > any
| > mention of any early cancellation fees.
| > thanks,
| > Brian
|
| ok, I found out what I needed to know here.
| http://www.findmerchant.com/merchant...t_tmf_file.htm

I'm not a lawyer and don;t play one on the internet but Texas has a
'deceptive trade practices act' which has considerable bite (even the
insurance industry is afraid of this one). In any case your state may have
a similar law. check it out. might help and can't hurt.
Might also check into the FTC web site as the Fair Credit Reporting Act may
apply as well.