Leasing Software

MY HUSBAND & I WANT TO TAKE OVER AN EXISTING RESTAURANT. THE LINE OF CREDIT WOULD PURCHASE THE COMPUTERS, SECURITY SYSTEM (CAMERAS & MONITORS), FURNISHINGS, DINNERWARE, FLATWARE, ETC. THE BUILDING AND EQUIPMENT IS LEASED. THIS SEEMS LIKE IT WOULD BE EASY. BUT IT HASN’T BEEN. PLEASE POINT US IN THE RIGHT DIRECTION.

I signed up with a company to accept credit cards for my small business. The company I Choose to do business with totally misrepresented the amount of fees to be taken out of my account. I have since cancelled with them. However, I signed a 48 month lease with the company who provided the terminal equipment. They have now stated taking the fees out of my checking account on different days of the month which has caused my account be be overdrawn many times. I am a small business just starting and do not always have the money in my account. My question is - If I return the equipment and refuse to pay the additional terms of my lease, can they report that to the credit bureaus. I can’t afford that either.

Several years ago I signed a contract to lease credit card processing equipment. The contract also named the “card services” company that set me up with the lease through a third-party. Since then, the card services company has gone into hiding, perhaps out-of-business, they have numerous complaints against them in the BBB. I stopped paying on the lease because when the company disappeared, they stopped providing me with the services. The lease company sold my debt to a collector, who is harassing me non-stop, yells and hangs up on me when I try to explain the situation. I don’t think I should have to pay for this, and I’m not sure of my rights, as it was a sole-proprietorship. Can I get them to stop calling? Does this too come off my credit report after 7 years? Does it no longer affect my credit score after 7 years?

Here’s the deal. I have a small equipment lease with a company in NY. (Credit card reader.) Sometimes my payment is late, up to a week sometimes. a bit more. One day late and they start calling me. Evey hour. Then after a few days, every half hour. I have received over ten calls in one day before I have to shut it off. (Boss gets upset.) This is at work on my cell phone which, due to family needs NEEDS to be left on. They do not stop and tell me they will not stop until they receive a payment. Once they receive it, unless I tell them they got it and they look it up, they continue to call. Is there a law that I can quote to stop them.? They always get their money. Just a bit late. And there is nothing I can do to make it better. Is there anyone I can report them to? Or ask for help?