Elavon / Ladco Leasing / credit card Terminal

7300 Chapman Highway, Knoxville zip 37920, TN, United States Review updated:
Contact information:
Phone: 800-678-8666

in April 2008, my business partner and myself went through Citizen's National Bank, the bank that our business account was in, to get a credit card terminal through Nova (Elavon) for our small new business. We were told by the representative that we could not purchase the terminal, but only lease it with the option to purchase it after a year. The lease was for 2 years and at the end of the lease we could keep it and pay nothing more. Upon receiving all paperwork, I took the paper work to our attorney to look it over. We signed a 2 year lease @ $47.73 a month. Also we signed an agreement with Nova, saying that we would pay $43.79 per month for any transaction during any month and no payment for any month we did not have a transaction. Near the end of the first year of the lease I opt to purchase the terminal and called to do so. I learned that this lease was for 3 years. I did not sign a three year lease.
In May 2009, my partner and I closed the business, so I could be in business by myself. I therefore changed the name of the business and opened a new account. I called the both Elavon ( Nova changed their name to Elavon) and Ladco and had the paperwork changed to the new name and new account. Ladco took 2 months rent on terminal in May and then in August took 2 more. By then this was 6 months that they took out of this account, eventhough, they had deducted June and July.
I did not use the ternimal again after September, Elavon continued to take $10.00 from my dwindling business account. Ladco continued to take their money out. (In August I bought a manual credit card terminal from a different company that Elavon used. It is still in the box it came in.)
Now in March, 2010, I closed my business checking because I no longer had a business. I was forced out of business by the economy. In April, I kept getting these emails from LADCO, saying I need to pay for the terminal. I called thenumebr and ask if I could just return the machine and not pay the lease. That was good and fine. They even sent me a return shipping label. Then on April 28, I get a call from this company telling me that my lease was for 4 years and I need to pay it. I also was told that I would only get $150.00 credit off my lease, but I still owed $1470.00 on the lease. This would be 9.3 times the cost of the terminal that the manufacture sells for $269.00. I already paid over 2 years plus the 2 months they took illegally from my account in May 2009 and then in August 2009 causing an overdraft in each instance. Now they still want to charge me more? I am trying to force them to send me billing statements and or a collection letter. They said that they nor Elavon sends out statements, but that is a lie.
Now this gets better. I asked the man how he got my personal home phone number, which I had not given out. He told me they hired a private detective. The very next day, April 29, this private detective called my home and proceeded to talk to my minor son to obtain information on my former business partner. This is against Ladco's privacy policies. They hired a person to represent them to find information on me and my former business partner and talked to a minor, which is against the law in all the United States. I intend to sue over this incident alone.
I would like to join a class action suit against Ladco and Elavon if any is going on. I am sending letters out this week to make formal complaints.
I will turn over any information that I have including the terminal and return letter that was sent to me to return the terminal.

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  • Co
      25th of Jul, 2010

    man that really sucks. ladco leases are notoriously hard to get out of.

    0 Votes
  • Lo
      16th of Dec, 2010

    I'm ready to join a class action law suit too. Please contact me at [protected]

    0 Votes
  • Be
      18th of Dec, 2010

    If you want out of that lease, let them talk to your child. It is against the law for collectors to talk to children. Especially those under 18.

    0 Votes
  • Ra
      22nd of Feb, 2011


    0 Votes
  • Lu
      4th of Mar, 2011

    We will start the class action suit. Now we are gathering more people.
    Please be a part of us and contact me at 858 568 5865 or [protected]
    You are not alone. Don't give up.
    If you have been scammed by Payment systems, Azura or Ladco, please contact me.

    0 Votes
  • Pa
      12th of May, 2011

    I am an attorney investigating class actions against Ladco and Elavon. Please call me to discuss your complaints as I would like to see if I can help! I can be reached at 800.656.9529 or 201.288.2022 ext 12.

    0 Votes
  • Ri
      26th of Aug, 2011

    Banks have become as corrupt as our government. Neither one has any ethics. The only thing they care about is how much money they can get out of us and the hell with anyone eating or paying any other bills. I'm blown away by all of the lies that the rep told me while signing me up. I've requested a copy of my contract which came and was un-readable. On top of everything else when I tried to close this account by closing my U.S. bank checking account. The bank didn't inform me that I had to fill out a form for termination of my credit card account. Even though U.S. bank owns Elavon and knows the process. So they continued charging me for several more months as if was accepting credit card. I say don't take credit cards. Make it a cash society. Don't let them to continue to rip us off.
    Greg I.

    0 Votes
  • As
      21st of Jan, 2013

    Please add my name in the law suit because I am also a victim of this fraud.
    Thank you,

    0 Votes
  • As
      21st of Jan, 2013

    I am also a victim of Ladco Fraud. I found out a company called ( 866-999-4622 leasing the same machine for $4.95 a month NO 4 years contact required ... Check this company. I hope this not also another Fraudulent Company like Ladco.
    Please add my name in Class Action Law suit.
    Thank you,

    0 Votes
  • Uh
      24th of Aug, 2013

    ELAVON contacted us about their merchant services. We were told by the representative that we are buying the machine and for their terminal services on credit/debit processing there would be a monthly charge. We paid the initial charge of cost of the machine and monthly charge of over $100 every month. After a year, we had to close the business. We called ELAVON about this. Everything was still good and we had to pay early closure fee of $295 plus extra on our monthly cost. We asked them if they would like the machine back to recycle as it was no use to us. They said we have bought the machine, it is ours to keep and they don't want it back. 9 months after closing the business, we got a letter from CCA (collections agency) saying that we can setting this debt for $1500 (somehow we owed $2100 to Ladco) for a lease we had no information on. We don't know how they make their papers, but we were never told anything about LADCO. ELAVON and LADCO are parent child companies and both scam innocent small business owners together. - We had our business in Canada.

    0 Votes
  • Al
      24th of Dec, 2013

    Ladco leases, just like every lease -- for terminal or a car -- is non-cancellable. You don't have to read into the agreement to know that -- the title of the agreement says so.

    It's like renting an apartment or owning a home through a mortgage. So lease is like a mortgage. You own the terminal and can't cancel it.

    There are benefits and downfalls. Know them all and choose what's right for your business.

    -1 Votes
  • De
      14th of Mar, 2014

    Ladco Leasing is the biggest rip off ever! I would love to be apart of a class action suit.
    Put me on the list, these people are thief's. 325-653-0437

    0 Votes
  • Sh
      14th of Mar, 2014

    I am a victim of Ladco as well, and would like more information on joining the class action suit. I just need more information on how to be included in the suit. Does anyone know if there is anything in progress, or a link with more information?



    0 Votes
  • Bi
      27th of May, 2014

    I was also scammed by Elavon (doing business as LADCO). These are the same companies across the street from one another but over the phone denying that they are the same company. Attempts to terminate my Lease agreement before it was due were met with hostility and aggressive responses. When the LADCO lease expired then LADCO insisted that I return a old and outdated (4 year old piece of equipment) to Tennessee at my expense even though it was provided to me in Canada. My charges of $75.54 payable to LADCO, but collected by Elavon, would only be terminated upon receipt of the piece of equipment. In addition another fee of $31.95 per month was charged to my by Elavon for which no one has given me an explanation for either at LADCO, Elavon, or Inkas. Over and above this I am also being charged a fee of $16.95 per month and another fee of $30.45 per month by Inkas Finance corporation. Inkas provided me the equipment in the first place. Total charges are $154.89 per month - ignoring any commission fees to AMEX (2.9%), Visa (~1.95%), and Mastercard (1.95%), and Debit. DO NOT use the services of LADCO or ELAVON as you will be VERY disappointed and locked into a punitive and expensive agreement that will bleed your corporate accounts.

    0 Votes
  • Ti
      26th of Jun, 2014

    I am also a victim. I closed my bank account so they can't take money anymore. They told me it was a 2 year lease, when I tried to cancel they said I could cancel after 4 years. Huh?! Where did the 4 year lease come from? Please contact me as well. [protected]

    0 Votes
  • Fr
      15th of Apr, 2015

    I am also a victim! I would be more then happy to join a class action suit. When I stoke to the representative they ask if I wanted to buy or to lease the Equipment. I wanted to buy so he told me that after the 60 months lease the terminal would be mine and that's when I would start making money with the terminal and if the terminal ever stop working or if I had any problems with it, it was garanty and the would replace the terminal no problem! That's not what happened!!! I was convinced that the lease was to finish end of marsh 2015 when in it actually finish 13 months before in 2014. So they charged me 13 months extra and when the terminal stop working would they replace it? Not in a million years!!! When I called them and ask the speak to someone in french they just hung up on me. After I send them multiple emails to let them know what I thought of there Customer services. They responded with we will close the account and you keep the Equipment. The extra months paid will cover to price for the purchesse of the equipement. No really?? there own contrat says that if I want to buy to Equipment there will be a extra 10% of the total amount paid to cover to purchesse of the terminal. So I was charge a lease of 60 months x 63.48$= 3808.80$ for the lease from ladco. So 10% of the total lease amount is 380.88$. But they charged me 13 more months x 63.48$ = 825.24$ - the 10% 380.88$ = 444.36$ they still charged to much but will they give it back no way! They just keep on finding excuses after excuses! Let not forget about elavon that also charged me 13 extra months at 43.45$ x 13 = 521.40$ And now I have a terminal that doesn't work at all and now nobody will replace it. If there is a suit out there please contact me!

    0 Votes
  • Ap
      2nd of Dec, 2015

    these people are out of control, I gave them my credit card to pay out the lease and there still taking the lease payment out after close a couple of months ago. called them today same run around add my name to the law suit list as well. I guess I will just close the account today.

    0 Votes
  • Ge
      11th of Jan, 2016

    I have left many messages for someone to call me. We switched out our machines twice and our sales rep was suppose to return them. I now have 3 payments a month coming out with nobody returning my phone calls.
    I am not surprised now after reading all of these posts. I think that this is no way to treat a customer.
    I will let you know how I have made out. I am about to try again.

    0 Votes
  • Ti
      25th of Mar, 2016

    I too have become a victim of Ladco leasing/ Elevon . Same story, scammed by US Bank rep. who I trusted because we have been customers for over twenty five years. Ladco is expecting me to pay over $2500.00 for a machine that I could have purchased from another merchant processing company for 350.00. I feel their rep deceived me in the first place, coming to my small business while I was busy with customers and she took full advantage of setting me up with these frauds. I called the county attorney and also made a complaint to the BBB. If anyone out there has any advice or is planning a class action law suit, please feel free to call me. 859 512 0801... I feel they are predators on small business owners. I have read where the lawsuit was won in favor of the people. These people need to be stopped. Tim Messmer Alexandria KY

    0 Votes
  • Li
      6th of Jun, 2017

    @timmessmer I agree with you, I have been scammed by Us banks sales marketing business rep.on new equipment and am being charged by Ladco twice out of my account. When I called Ladco they said they didn't receive paperwork to switch the lease of equipment. But yet they sent the equipment. and they said they didn't receive paperwork to switch the lease. and said it can't be switched. and yet they sent the equipment. and my Rep. had 3-1/2 weeks to get the paperwork sent in and to get a call tag to send the old equipment back. somehow I've been mislead on this lease. and was told that I could keep the terms of which would be the same. Yet they have denied any transactions. so I have called US Bank and had them reverse charges so I don't incur overdraft fees, But I had to call to dispute this. I thought First Data was bad, This company takes the cake. Man they will rip you off coming and going. Very unhappy!

    0 Votes

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