I got solicited by a magazine subscription company to buy magazines.. my understanding and what the actual deal was is not the same.. I thought I was to pay an amount for 3 months and that was it... the terms were actually for 30 months.. I made one payment before I realized my misunderstanding.. I have only received one of many magazines so far.. when I called to inquire about it they said that I committed to the 30 months($594)and that we had a verbal contract (that was recorded)and if I did not pay the payments, it would go onto my credit report... they said that if I wanted to cancel, I could pay $40... is this a binding contract.. there is no cancellation policy on paper or verbally.. what if I did not like the magazines or simply did not want them... HELP
What are my rights?
shira sledziewski

Hello shira:

I think you agreed to buy some magazines. Sure, there's a misunderstanding. However, whether you LIKE the magazines ISN'T the issue. Whether you agreed to pay for them IS the issue. If you don't think you did, then stop paying. If THEY think you did, they'll try to collect. If you don't pay, they'll sue you, and then they can play the tape for the judge. IF the judge thinks you agreed to pay, then you'll be ordered to pay. If he thinks you didn't, they'll lose their suit.

Yes, until you get to court, your credit will be dinged, but if the judge rules in your favor, he can order them to REMOVE the negative remarks on your credit report.

Pretty simple, actually - or not.

excon

PS> Having been a successful sales rep in those kinds of places, I can tell you that if they're any good, the DO have you on tape agreeing to the sale.

And I would demand they send me a written copy of the verbal agreement, and a copy of the tape. ( you have a legal right to demand proof of debt)

Here's the thing. They cannot hold you to a subscription like this if you choose to cancel. All they can do is charge you for the magazines you did receive. So you make sure that you cancel the subscriptions IN WRITING. In the cancellation letter ask them for a bill for whatever issues you received. Inform them that any issues received 2 weeks after the date of your letter will be considered gifts.

You should not have to pay anything more than face value for the issues you received. They MIGHT be able to tack on a cancellation penalty. If they try that, ask for proof that you agreed to that.