I just opened a ceramic/craft business. Had an opening, 70 people visited, but currently no classes or customers yet. Had to get a business bank account, paid $250 to open, plus I jumped the gun on signing a lease for a credit/debit card machine for 48 months. The machine came in June, never opened box, waited for the bank to send someone to connect & install at the studio. Meanwhile, I'm getting charged for first data credit card lease & insurance that's required, I called to see if I could delay or return, they told me it doesn't have to be connected, it cannot be returned, the lease is unbreakable, even if I go out of business! Looks like I'll be paying for this for 48 mos. hopefully someone can give a advice. thanks.
1 Answer from Attorneys
Read your lease or have an attorney read it for you. Does it have any provisions regarding early termination? Better to pay a few dollars up front to get out of the lease than have to pay for 48 months. If the lease is silent regarding early termination, try negotiating a buy-out of the lease with the company. You can also talk to a bankruptcy attorney.
Best of luck.*****The above is for informational purposes only and does not create an attorney-client privilege.******
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