VANTIV MERCURY VANTIV is demanding a $9k payment for an early cancellation. Nationwide

VANTIV is demanding a $9K payment for an early cancellation.

I own a small restaurant and have been using MERCURY as my CC processor for 5 years before they were taken over by VANTIV. 

I had an archaic POS system and decided to switch to a new POS company. The new POS was not compatible with VANTIV processor.

My husband called to cancel the service and that is when the problem started.

During the phone call to make the cancellation, the rep NEVER said or notified us that there was an auto renewal contract or we had to make the cancellation in writing 30 days inadvance or that if we cancel that there would be an early termination fee...not one word. The Rep made the cancellation sooooooo easy.

Aweek later we got a call from the company saying we owe $9k for an early cancellation because we still had 18months left on our contract (which we have no idea of). He ssaid that it was an auto renewal every 3 years. Our original rep never told us this, not written or phone call or email of notification was given to us. Well, We told him we cant pay that and we wont. 

He then proceded to tell us that they can take it down to $2,700 and call it a day...? We still cant afford it and we wont pay it. He then got mean. It seems like an extortion. We recently closed our bank account. We can barely getting by and they want to take from us what we dont have.

After we stop talking to him they sent a Collection Agency to harrass us. Now a law office from Chicago of all places is clling us. We dont know what to do.

Its outrageous that a company would be this dishonest and taking advantage of a small business like ours.

I'm doing my best to read and research of ways to help get us out of this. we may have to Close our business if we cant resolve this.

STAY AWAY FROM VANTIV!