Jaimedude,

You see...it DOES make sense. The 'term' of the contract is the dispute, so the vendors quite extortion attempt is 'threat of collection.' The term ended (much like a lease), almost 8-9 months ago, and we continued on month-month (no automatic renewal...I confirmed).

They simply argue that we must pay the 'cancellation' fee and NOW an additional $200 'Admin' fee for their trouble...In fact I have received iQor, Inc formerly CBCL - Canadian Bonded Credit Limited - Now Iqor Collection Agency 's collection letter, and responded.

I have been informed by consultants that I have the right to add 'comments' to the item on my credit bureau (if they go that far). Also, the item SHOULD be classified not as 'UNPAID' but as 'DISPUTED.'

Now I am having fun...

SignGuy,
The scope of the forum is personal finance.

I couldn't imagine what would happen if we included business contract law into the discussion. As well, businesses are regulated differently than individuals.

If an individual has a problem with a company they go to consumer Protection - Provincial government.

If a business has an issue with another business, they sue them in court. It goes to contracts and agreements.

In all reality, that makes zero sense. Did you ask the obvious questions about when the contract is supposed to end as per them? Do you still have a copy of the contract?

FYI, if a creditor/vendor reports to your bureau wrongfully, it can be removed.

Vendors don't usually make mistakes when it comes to lengths of contracts.

Also, I mean why would you consider keeping face with a vendor that is willing to send you to a third party collection agency and (edited for language) your bureau? Why not threaten them back with contacting a contract lawyer or the Better Business Bureau?

Yes, it is a business problem. Curiously though, they threatened to forward to the iQor, Inc formerly CBCL - Canadian Bonded Credit Limited - Now Iqor Collection Agency , so that is what led me to this forum...
Also, this problem affects me personally as I own the business, and am the guarantor. If not to discuss being unfairly sent to collection, what would the scope of the forum be???

Hey SignGuy,

That sounds like a business problem which is outside of the scope of this discussion.

I have a vendor and they are levying a early termination penalty for service... but we are well past the end of the contract. We clearly do not owe an early termination penalty, but they are threatening collection and Credit Bureau reporting. How do I keep a good name with this bully trying to extort $$$$???