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So, You Want To Join A Gym...?   Before you sign up for a health club membership, there are a few things you should know.   Beware of health club memberships that require you to sign a contract. Some gyms offer financing for their memberships. These are usually the larger health club chains. At first glance, the option to finance the membership may seem attractive, but there is a very serious pitfall. If you finance your membership, you are locked into a long term, legally binding contract that is extremely difficult to get out of (To cancel the contract, you have to move beyond a 25 mile radius of any of their gyms or prove that you are suffering from a chronic illness that prevents you from working out. Any other reason you may have to cancel will be considered invalid.)   Here are some more reasons you should not sign a finance agreement when you join a gym:   1) Statistics show that the majority of people stop going to the gym after a few months. If you sign a three year contract and decide you don't want the membership after 2 months, you're going to have a real problem. If you stop paying, the health club will turn your account over to a collection agency and your credit will be damaged.   2) What if you lose your job or your financial situation otherwise takes a turn for the worse? You won't be able to cancel the contract on the basis of financial hardship. Debt collectors will be calling you and your credit will be damaged if you can't continue paying.   3) What if you find a better gym before your contract is up? What if the gym you joined rapidly deteriorates before your contract is up? If you're locked into a 3 year contract, you won't be able to switch gyms unless you pay for both.   4) What if you relocate and the new gym isn't anywhere near as nice as the one you signed up for. You won't be able to get out of the contract just because you don't like the gym near your new residence. Let's say you join a chain because the facility you toured has a swimming pool. Then you move to another city or state and the gym near you doesn't have a swimming pool. Too bad. You won't be able to cancel because of this.   5) What if the hours at your gym are shortened and it's no longer convenient for you to go? Too bad. You're still stuck with the obligation of the contract. If you stop paying, you will be contacted by debt collectors and your credit will be damaged.   If you're still thinking of joining a gym and signing a contract, protect yourself and do some research first. Check out the company with the Better Business Bureau. Also, type the company's name into a few search engines and see what turns up.

 

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