Quote:
Originally Posted by mathjak107
many gym memberships are self renewing LOANS and what you are agreeing to is a loan from a bank .
they pay the gym up front and you are really paying a loan .
all perfectly legal and you can possibly owe the money if you agreed with out reading how the membership works whether you cancel or not .
THE NEW YORK POST once did an under-cover expose where they showed how gyms never told the members they were actually agreeing to make payments on a loan but it was in the gym paper work you agreed to.
the worst was they were self renewing contracts and folks were being sued and were out thousands and were being sued because they just stopped going to the gym and the membership loans were self renewing un known to them , if you did not end the contract when it was up another loan was agreed to .
the gym got paid for the whole membership up front and now it is you and the bank you owe payments to .
this may not be as simple as just killing the payment . you need to read that contract that was signed .
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I believe Bally's and Lucille Roberts work or used to work like that. I remember my sister got caught in one of those contracts and used my mother's info. She stopped going to the gym and couldn't get out until one year.
All the gym contracts that i sign are the month to month contracts where you can end your membership by giving 30 days notice. I would never sign a year contract. I recently cancelled my NYC NYSC membership and it was quite easy. They require 45 days notice which is a obscene but whatever. My last day will be April 9th and then i can join a gym one block away from my job.
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