Early Termination for Card Payment Machine

[Deemy1988]

In February 2016 I had signed up with payment sense. The sales rep advised me that as a sole trader under the consumer credit act of 1974 i would only be liable for 18 months contract after which I could terminate my services without having any early termination fees to pay.
So it's soon approaching the 15th month of my time with payment sense understandably giving 30days notice to terminate services seems right. So I contact payment sense only to be told that I have to pay a termination fee of the remainder of the 60 month contract that i was assigned to.

If that is the case then how does the consumer credit act 1974 govern me as a sole trader to allow to terminate without any fees after 18 months?

How do I terminate without paying nearly £500 in termination fees

Thanks

 

[Deemy1988]

Hi, thank you for taking the time to reply to my post,

No I am still trading. However I only assigned to payment sense as the sales man said that if I sign to a 60 month contract my rates would be lower and as a sole trader under the consumer credit act of 1974 i would be able to terminate my contract at 18 months. So it's to the point of nearly 18 months and I would like to terminate because I believed I was able to without having to pay any termination fees.

Also the epos system I have in my shop takes online orders and with the epos system I could also take card payments so having one less card terminal I would be saving x amount each month.

 

[devdas73]

Hello have you had any joy with settling this? Thanks

 

[antropy]

The sales rep advised me that as a sole trader under the consumer credit act of 1974 i would only be liable for 18 months contract after which I could terminate my services without having any early termination fees to pay.

Did you get this in writing or in an email?

 

[devdas73]

Hello I got it in email from the rep thanks

 

[antropy]

Hello I got it in email from the rep thanks

Great! Email is legally binding so just forward that on, state you're not paying it and that will be that.