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HELP-business machine contract
in 1998 a friend started a home based business, told me about it and i start my own just like it. we worked together but they are two separate business. we eventually started to attend shows and sales events, to enhance our business we decided to apply for a mc/visa machine. both of us looked into the different types of machines and decided to go with one company. to save time we set up a meeting together and he came out to discuss the machine and contract. we were told that the machine could be financed and that if we chose not to stay in business we could call him and he could sell the terms of our contract to someone else. he informed us that we would pay on the contract for 2yrs and the machine would be ours, so she got hers and i got mine. we had a big event and the mc/visa guy brought our machines to the show and we signed the contract. i am ashamed to say i did not read it (i assumed it covered the terms we had talked about) and did not receive my copy, he said he would mail it (i never got it). approx 9 months later my friend decided to deal in cash only and called to inform the mc/visa guy. she was unable to contact him and explained the situation to the manager of the office, but was told that they were unable to sell the terms of her contract, but if she knew of anyone who was willing to take the machine they would transfer it. i eventually decided to get out of the business but because of the trouble she had, i decided to continue to pay on my machine. 2yrs have gone by and i called the company - which no longer exists. my account was still being debtited for the monthly payment, i put a stop payment and immediately started to get notices from the finance company. they say i still owe $1200 and that it is just a lease with an optional ballon at the end to buy the machine. they say i can not send the machine (which was never used and still in the original box) back, they will not sell the terms to another buyer. i told them the mc/visa guy had lied about the terms and conditions, they said they are not responsible for his actions, they are just the finance company and were not the selling agent. they sent me a copy of my signed contract. i called them and asked them that if i were to complete the payments but did not want to pay the ballon note what would i do with the machine. they said i was to return it to them. even though i was ignorant enough to sign without reading, do i have any recourse for the fraudelent lies i was told? and since they say i must return the machine to them are they not considered the selling agent and responsible for their employees?does it seem like i have any way out of this mess?
in 1998 a friend started a home based business, told me about it and i start my own just like it. we worked together but they are two separate business. we eventually started to attend shows and sales events, to enhance our business we decided to apply for a mc/visa machine. both of us looked into the different types of machines and decided to go with one company. to save time we set up a meeting together and he came out to discuss the machine and contract. we were told that the machine could be financed and that if we chose not to stay in business we could call him and he could sell the terms of our contract to someone else. he informed us that we would pay on the contract for 2yrs and the machine would be ours, so she got hers and i got mine. we had a big event and the mc/visa guy brought our machines to the show and we signed the contract. i am ashamed to say i did not read it (i assumed it covered the terms we had talked about) and did not receive my copy, he said he would mail it (i never got it). approx 9 months later my friend decided to deal in cash only and called to inform the mc/visa guy. she was unable to contact him and explained the situation to the manager of the office, but was told that they were unable to sell the terms of her contract, but if she knew of anyone who was willing to take the machine they would transfer it. i eventually decided to get out of the business but because of the trouble she had, i decided to continue to pay on my machine. 2yrs have gone by and i called the company - which no longer exists. my account was still being debtited for the monthly payment, i put a stop payment and immediately started to get notices from the finance company. they say i still owe $1200 and that it is just a lease with an optional ballon at the end to buy the machine. they say i can not send the machine (which was never used and still in the original box) back, they will not sell the terms to another buyer. i told them the mc/visa guy had lied about the terms and conditions, they said they are not responsible for his actions, they are just the finance company and were not the selling agent. they sent me a copy of my signed contract. i called them and asked them that if i were to complete the payments but did not want to pay the ballon note what would i do with the machine. they said i was to return it to them. even though i was ignorant enough to sign without reading, do i have any recourse for the fraudelent lies i was told? and since they say i must return the machine to them are they not considered the selling agent and responsible for their employees?does it seem like i have any way out of this mess?
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