Change penalties
I do understand how you feel and trust me I have been in the same situation, however I am also a business owner and when people cancel on me at the last minute and the business (whatever it is) cannot resell the room / seat / time / service, the business does suffer
The "ideal" situation would be that IF they resold your seat which you canceled then they should waive or reduce the penalty. Won't happen. One, because who is going to prove what and two, because they can't even manage their inventory as it is.
Even if you had paid for cancellation insurance it probably would not have covered you
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