Effect on Fico Score for discontinuing a service contract.

[Anonymous]

I am new to posting so here is my very first question to present to this Forum.  I recently signed a contract for a one year membership with Massage Envy in order to get a reduced price for this luxury.  I have just been informed by my employer I will no longer have a job come June.  My future income is likely to be half of my present earnings.  I  was told be the only way to be released from the contract is to provide a statement from a physician saying I am medically unable to continue. Can my credit history be damaged for a service not used?  I have worked diligently to bring my Fico Score from 688 to 760.  I am committed to use money from savings if necessary  to keep my Fico climbing in the right direction. If appropriate to this Forum, I would be open to ethical comments in regards to completing this contract. I want to make it clear I am not bashing Massage Envy because there service has been excellent. 

[Junejer]

If you signed a contract, and you breach it, you could be held liable for the contract. Bad case scenario is that they can sue you and you lose then you'd have a PR on your reports. Your 760 would be no longer.

[wilee]

What does the contract say about early termination?

If you fail to uphold your obligations, I would, at the least, expect the balnce to be turned over to collections. Try to negotiate some way to buy out the contract at a discount if early termination options are not in the contract.

[Anonymous]

I believe that your answer is in the very question you asked......

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sanibel wrote: 

 I  was told be the only way to be released from the contract is to provide a statement from a physician saying I am medically unable to continue. 

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Do you have a primary physician?  How has your back or joints been felling lately?  Explain the situation to him or her.....I can pretty much bet there won't be an issue getting a release from your doctor or probably an outpatient clinic.  It's worth a shot

A credit fix isn't always the only way to address an issue.   BOL