saffakanera
Expert Member
- Joined
- Sep 25, 2006
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• Ever been billed for that gym or cellphone contract you thought had expired?
• Thanks to the new act, automatic contract renewals will be no more. Companies will have to contact you – in writing – between 40 and 80 business days before your contract expires. They have to give you the option to continue your contract, change its terms or cancel it.
• Note that the contract will continue on a month-to-month basis until you make your choice.
• You will also be able to cancel contracts at any time. No more waiting for the full 24 months to end. If you’re unhappy, give the company 20 days’ notice – in writing – and you’re home free.
• And while you won’t have to pay the full value of the contract, keep in mind that you still have to pay anything you owe the company up to the date of cancellation.
• The company might also charge you a cancellation fee, possibly no more than 10 percent of the amounts still owed.
• Thanks to the new act, automatic contract renewals will be no more. Companies will have to contact you – in writing – between 40 and 80 business days before your contract expires. They have to give you the option to continue your contract, change its terms or cancel it.
• Note that the contract will continue on a month-to-month basis until you make your choice.
• You will also be able to cancel contracts at any time. No more waiting for the full 24 months to end. If you’re unhappy, give the company 20 days’ notice – in writing – and you’re home free.
• And while you won’t have to pay the full value of the contract, keep in mind that you still have to pay anything you owe the company up to the date of cancellation.
• The company might also charge you a cancellation fee, possibly no more than 10 percent of the amounts still owed.