Consumer Law, Warranties Security System Contract

[dvbii]

My jurisdiction is: Virginia

We (my wife and I) entered into a 3 year contract with a home security system provider in August of 2006. We want to cancel. Come to find out the contract says "This agreement will automatically renew for successive one-year terms unless PAI receives written notice of cancellation from customer via U.S. Mail or overnight mail postmarked no later than sixty (60) days prior to the end of the initial term or any renewal term. Customer may be required to show proof of delivery."
That means we would have written a cancellation notice by the 11th of this month. We however, did not.
My question is, can we get out of this contract? or are we obligated to yet another year of a horrible service?

Thank you in advance for any advise.

 

[Michael Wechsler]

According to the agreement, you're stuck. Typically there is a buyout clause which you'll have to pay some penalty and... unfortunately... this is a common practice to nail consumers to agreements for longer than they intended. Ask them about this issue first. Let us know what they say.

PS - I don't know if it applies here, but clauses for "liquidated damages" should not be unduly harsh. Thus any buyout you should have to pay should be reasonable and not onerous, e.g. 1/12 the contract price.