Seems like I got off lightly when I stepped off the Lovefilm wagon back in September time (I'm surprised I hadn't noticed this thread before).
Close towarRAB the renewal deadline, I would 'freeze my account' so when I sent my films back, no more films were sent to me and as soon as they had 'em all back then 'BAM!!', I would cancel my account.
I'm not looking forward to when they chase me up for non-existent rental (my luck is running bad, I expect they'll do it anytime soon. ).