Breach of contract/Collections agency/Impact on credit rating
Description
| Law Type: | Business |
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| Location: | North York, Ontario | |||||||||||||||||||||||||||||||||||
| Specific Issue: | Breach of Contracts | |||||||||||||||||||||||||||||||||||
Case Description
1. Signed a 10 yr contract with a vacation club in 1993
2. Contract states the annual maintenance fee cannot be increased by more than CPI index as posted by the Government of Canada
3. Original company we signed with was bought out by another Club. The new company almost doubled the annual maintenance fee when the CPI did never actually exceed 1/5%
4. After paying diligently for 4 yrs, we stopped paying and taking vacations, tried to negotiate in good faith and asked the Club to honour the contract and reduce the maintenance fee
5. Not only didn't the Club reduce the fee, they started charging us $25 per call and $25 per e-mail and letter, in an attempt to silence us
6. In August this year, they gave our case to a Collection agency. Again we re-iterated our willingness to settle by giving the agency and the Club a proposal to pay what the contract states it should pay
7. The club is not accepting our proposal and wants full pmt. Half of the amount they are asking is illegal fees and interest. The agency called at 8am on Saturday to say our credit rating will be affected and they are taking us to court.
Our credit rating has always been excellent, I've been with a major telecom company for 12+ yrs, we've never been contacted by a credit agency before. Please advise best course of action.
Details
Case id : 009376
City : north york
Province : Ontario
Category : Business
Specific : Breach of Contracts
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