Paid for year up front of subscription - then was fired

[baylor3217]

What is the name of your state? Texas

I am in Texas but I think this online subscription business about investing is based in Arkansas (or the blog owner resides there).

I’ve been a member of their site for many years and pay about $700/year in a one time payment every August 15th.

I was recently laid off in September and reach out to them to get a refund for the 11 months of service they haven’t yet provided. I’m trying to cut every expense possible in these trying times.

here is their response to my request:

“I am sorry to hear that. I can cancel it so that it does not recur but your annual was taken on August 15th and we do not normally refund in whole or on a pro rata basis after more than a month on an annual has passed. I am willing to refund $200 and say no hard feelings and hope to see you back on the site some day.”

is this legal? 700/12 is $58/ month. Even if I granted them 2 full months to be nice that’s $116 and they’d owe me $584but they want to give me $200 and say “no hard feelings”?

what recourse do I have here?

 

[quincy]

If you already paid on August 15 for a year’s subscription, the service probably does not have to refund to you any money at all.

I don’t see any legal recourse unless you can find one in the subscription agreement you signed.

 

[adjusterjack]

what recourse do I have here?

Your recourse, if any, is addressed in your contract. Read it. What does it say about cancellation?

 

[quincy]

What is the name of your state? Texas
... “... I can cancel it so that it does not recur but your annual was taken on August 15th and we do not normally refund in whole or on a pro rata basis after more than a month on an annual has passed. I am willing to refund $200 and say no hard feelings and hope to see you back on the site some day.” ...

What I have bolded above of the response you received from the subscription service seems to be key, if you did not request a refund before September 15 - if that condition was also outlined in the subscription agreement you signed.

 

[baylor3217]

What I have bolded above of the response you received from the subscription service seems to be key, if you did not request a refund before September 15 - if that condition was also outlined in the subscription agreement you signed.

what if nothing is outlined in the agreement ?

 

[baylor3217]

Also could they ban me from the board and keep my money? Sounds like a major racket

 

[adjusterjack]

what if nothing is outlined in the agreement ?

The agreement is not cancellable unless it says it's cancellable. If it says nothing about cancellation then you've bought the service for a year for $700.

If you don't want to take the $200 then continue using the service for the rest of the term since you've already paid for it.

 

[quincy]

what if nothing is outlined in the agreement ?

If there is no clause on cancellation of the service in the agreement you signed, then you have a potential argument to make for a greater-than-$200 refund. How successful this argument would be is a question mark - but my hunch is that it won’t be successful.