I got scammed on a similar cotract when I was just out of high school. Joined a gym for $19 a month, got the hard sell and they swore up and down I could cancel at any time. And I could cancel at any time, as long as I moved over 50 miles away!!!!!! I tried to resolve it but they just wouldn't cancel me. I told them to go fuck themselves.
Several months later, I got a call from a collection agency wanting payment. He was a cool guy and I explained everything to him. He told me that what I signed was the equivilent of a BANK LOAN! Basically, they sold me a membership and "loaned" me the money for it. In exchange for paying back the loan, I could continue to go to their club. I told him that I wasn't going to pay it and he said it would go on my credit report. I was 18 and I didn't give a shit about a credit report. I'm 28 now and have never been affecting by this being on my report. It only stay on a couple of years anyway.