How to get out of an alarm contract
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Home » Personal Finance » How to get out of an alarm contract
How to get out of an alarm contract
Most alarm companies today give you “free” alarm systems for signing up for multi-year contracts for service. These contracts are usually 2 to 3 ;years in length and are nearly impossible to terminate as a consumer. If you are looking to switch to another provider or need to cut expenses by canceling your system, there is only one ligitimate way to get out of the contract.
Instructions
1
The first thing you need to understand is that you can not terminate an alarm system contract unless you can prove that the alarm system company was dishonest or has not lived up to their end of the contract. For the most part, when you signed all of the paperwork for the contract, you most likely gave up your rights to terminate and agreed to the terms of the contract as written. The only way to get out of the contract is to find someone else to take it over. This sounds harder than it really is, especially if you have a wireless system that can be transfered to another property. Advertise your system on sites such as Craigs List or in the local newspaper. The best way to get noticed, is to offer the system for free. There are people out there that do not want to sign up for a 2 or 3 year alarm contract, but would be willing to take over your contract if there was only 1 to 2 years remaining. Sometimes you need to incentavise your buyer by offering a month or 2 of “free” monitoring services. This free service is really you paying them those 2 months once the transfer is complete.
2
Once you find someone who is interested, you will need to contact the alarm company and have them send the paperwork to the new owner to sign to take over the contract. The alarm company will need get in contact with your buyer and make sure they a credit worthy and to transfer the bililng obligations from you. The alarm company will handle all of the paperwork to avoid any fraud and to make sure everything is documented correctly.
3
After the transaction is complete, get confirmation from the company in writing that the transfer has occured and check you credit card or bank statements to make sure they do not charge after you have transfered the contract.
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