Ray At Tampabay Merchant Services
Clearwater,#2Consumer Comment
Mon, January 23, 2012
I am responding to this that it may help you and others that may read this in a similar situation. Any business owner no matter how busy, needs to take the time and deal with these situations and not turn them over to another employee because if you do not then you will spend more time on the back end trying to clear up the mess. The first problem is this occurred in June 2011 and now it is January 2012. The more time that goes by, the harder it will be to get out of this. You need to go BB&T because they are the ones that sent the rep in, based on what you wrote. Some of what you state doesnt make sense. A red flag should have gone off when a guy shows up saying they are going to give the equipment for free. These terminals are not given to the service provider from the manufacturer for nothing, why would BB&T give it to you for free? You need to change your bank account to stop the deductions and try and get BB&T to help you, if they will. They have the relationship with the leasing company. If not the leasing company will try and collect and they will hassle you for a while and then later turn it over to a collection agency at some point. You will need to dispute the debt if this gets listed on your credit report, dispute it there as well.
Also note the leasing company is nothing more than a financing company for the merchant service provider who uses them to help place terminals. In theory, if a business cannot afford or have the capital to out lay for the equipment then the leasing company pays the merchant service provider the funds. The leasing company collects payments to earn back what they paid to the merchant service provider. I hope this helps. Ray at Tampa Bay Merchant Services.