Elavon review: Leasing terms 51

Hallo, my company name is your halo hair extensions, I been getting charges from u guys for long time. business its shut down from march. I need u to stop charging me and credit me for april month as well. thank u

This is a nightmare the money that continues to come out of my business Account for something I’m not even using anymore when I received this machine I could not even get it to work for the first three months because the machine continued to say it needed to be updated and I had no way of getting it updated not to mention the support team that was supposed to be the most amazing support system couldn’t even help us. Finally once we were able to get the machine up and running and started using it half the time it wouldn’t turn on half the time it wouldn’t even except cards. I have lost so much time and I wished I would have investigated this company way before I ever agreed to sign this lease. The people I trusted at my bank to offer me something which has turned up to be the biggest SCAM! That I have ever gotten myself into. I have spent countless hours on the phone with this company as well as Ladco leasing. Not to mention the money that I continue to lose!
I also wasn’t aware of this 48 months lease! I was sure it was only 24 months.
BIGGEST SCAM EVER!
St Joseph, Missouri

Ladco was the worst decision I ever made in my business.

I totally agree with all the frustration that every one has. I am on the same boat. I can't believe that they can still operate with such a scam. I am small business owner. I have a restaurant. In 2011 Harbor Touch sent a rep by and told us that we can get a POS system for just $120/ moth in which they will service us and the system will be ours after five years. They made me sign a contract for 5 years. Then I realised that the system is literally crap. So contacted Harbor Touch and tried to return it back to them. They said I am in a non cancellable lease. In that case they were asking me to pay $7000 for me to get out of the lease. I didn't have that money so I just kept paying them monthly. Now the contract is over but they are asking me to buy the equipment for $1000. Which probably is not even worth $2000 total. I just want let everyone know that Please be aware of these companies. Harbor Touch and Ladco Leasing.

ATTN LADCO LEASING SCAM VICTIMS: The D.A. of Ventura County, California, who has been investigating Ladco and its business practices, issued a press release on May 1, 2012, regarding the ruling handed down by the Superior Court. "...Under the Final Judgment signed by Ventura County Superior Court Judge Harry Walsh, Ladco and Elavon must pay $418, 601 in civil penalties, restitution, and cost recovery to the Ventura County District Attorney's Office, and will be bound under the terms of a permanent injunction prohibiting similar future alleged violations of law. The final judgment also requires that Ladco and Elavon cancel leases, release liens, terminate collection efforts, and provide updated status reports to credit-reporting agencies, for more than 100 impacted lessees." Here is the link to the press release in its entirety: http://da.countyofventura.org/12-030.htm

VICTIMS OF ENTRUST, You are urged to PLEASE file with the Arizona Attorney General's office Here's the link: http://www.azag.gov/consumer/complaintform.html
Both Christines (Ventura DA & NBC reporter) are standing by to assist, but they can act only in response to filings & consumer compliants. Christine Mitchell confirmed that she has spoken to the AG of AZ's office, but the folks in AZ have to run their own investigation. It appears that Arizona doesn't have a consumer complaint department at the county level (unless someone else can find it). The evil Entrust is located in Maricopa County.

FYI: Ladco Leasing's parent company is Elavon. Elavon works at maintaining a squeaky-clean image, while Ladco does all the scamming in the background.

Lori, thanks for providing this wonderful info on the history of Ladco. The D.A.'s office of Ventura County, California, has been investigating the case, and the media is finally starting to pick up on it. There is more info on my blog at
http://merchant-scamology.blogspot.com/
Thanks, Deborah

Lee Ladd Chairman founded LADCO Financial Group in 1979 and after ventures in mortgage
brokering and commercial equipment financing, entered the small-ticket leasing field in 1984. LADCO
specialized in financing point-of-sale equipment and grew to service over 120, 000 lease and rental
contracts. LADCO pioneered small ticket financing as one of the first to utilize ACH for billing and as
one of the first to participate in the placement of over $193MM in lease-backed securitizations with rated
bonds issued to investors.

In 1997, LADCO Financial Group was acquired by PMT Services. In 1998, PMT Services merged
with NOVA Corporation, the result was a new parent company, NOVA Information Systems. In 2001,
NOVA Information Systems, Inc. was acquired by US Bancorp. LADCO operated as a wholly owned
subsidiary of NOVA and US Bancorp. Lee Ladd departed the organization in 2006.

In 2006, LEECO Financial Services was incorporated with the securing of a $120MM credit facility.

LEECO provides a fully compliant and comprehensive servicing of portfolio. This includes all federal,
state and local tax collections, remittance and audit responsibilities; property tax reporting, allocation,
collection, remittance and audit responsibilities; and all monthly and ancillary costs associated with
monthly billing, collections and portfolio management. www.leecofinancial.com

Where is he now?

Lee Ladd
Owner, mile edge plus
Greater Los Angeles Area | Automotive
Current: Owner at mile edge plus
Past: President and CEO at LADCO Leasing, regional v.p. at Fireside Thrift

Ladco is charging $69 per month for 60 months, a total of $4140 plus tax for a machine that I can buy for $319. I now have to change bank accounts. I wish I read these postings before. The bank servicer was Entrust(United Bank), not Elavon. The Costco service that I'm switching to is Elavon, and they're selling me the machine for $319. Either they saw the light or they don't lease anymore.

It appears that Ladco has been breaking the laws and scamming hardworking business owners for a while. They will keep on unless they are met with a classaction effort that hits them were it hurts... in the pocket book! They are racking in such big profits with this racket that they are probably thinking so what if they lose a few individual lawsuits. As long as the other 90% never bother to call them on their misdeeds they will keep at this racket!

"The only thing necessary for the success of evil... is for good men to do nothing"

In our particular case we have clear evidence that they have forged and doctored up the original lease agreement. Luckily we had made a copy of the agreement prior to turning it over to the crooked sales rep. We definitely will be pursuing criminal as well as a civil claim against these predators.

Contact Jim72936@gmail.com if you have evidence of your signatures being forged or documents that have been doctored by Ladco/Azura.

I to have been scamed by Ladco Leasing, I had a business which I closed in Oct 2003, when I notified that I Closed the Business in October 2003 Then I discovered 2 months ago recieving a statement from my bank that there still taking out of my account. I sent the equipment back when we closed, and its now 2011 and there still taking money out. I contacted the company and asked them to stop taking payments out and refund the money that is overpayed. And they have refused to respond to that request. Pleas add my name to the Class Action Suit.
[protected], georgemi

Hi! My name is Paul Perkins. I am an attorney investigating a class action against Elavon/Ladco - please call me as I would like to hear peoples' experiences. I can be reached at 800.656.9529 and 201.288.2022.

does it state any way in the lease agreement of a perchase upfront or lease option, any knows please help

Hi, I'm located in Canada. And I was set up woth elavony and i dod not even know that main processor was LADCO. I'm really confuse. One day because i have a charge back with Elavony, elavony decided to cancel my contract with them and next you know once they cancel with me I was still getting charge through my bank under ELAVON- CANADA. So I though it was elavon company who was keep charging me 22.66$ every month so I call ELAVON to ask why they keep charging me and Elavon told me it was not them but it was LADCO. But on my statement it was not saying LADCO but was saying ELAVON- CANADA. Isn't a fraud when company use other company name in statement when it is not ELAVON. SO I called LADCO to ask why they using ELAVOn CANADA name on my bill statement. and they told me they have all right to do it. So i wanted to cancel my contract with them and they send me some sort of agreement that i have to pay over 800$ for next 11 months. I don't know what to do. If i don't pay what they can do? will they bring me to the cort for 800$. Did anyone ignore there letter and harassement? what happen to those people who refuse to pay did LADCO bring you to the cort? What happen with those people who refuse to pay them?>

LADCO Leasing also scammed my business. The sales representative was unscrupulous and completely misrepresented the terms of the deal. Before I knew it, I was obligated to pay almost five times the amount of the cost of the credit card machine over the term of my 36 month lease.

Since you heard from Key Bank that they were letting you out of the lease, has anything happened? I was told by my merchant services provider that they were letting me out of the contract too, but it ended up being only the services contract and not the equipment lease. They walked away denying any connection what so ever to Ladco and vice versa.

I dealt with these exact same scenarios in my small computer business in Pawling, NY. Key Bank (who I never would have thought would rip off their customers, but I seem to have been wrong), sent a rep over and he told me merchant services with Key were $49.99 a month. I accepted this since I didn't know any better and the card swiper was shipped. A week after getting the swiper, I ge a letter from Ladco that I am paying $49.99 a month for the swiper for 4 years. I looked up the machine online and I found I could buy it for $249. I called my bank rep and he tried to tell me that I could "offset" the cost of the machine by replacing it every year for free, which is a joke. Not being someone who takes to being ripped off very kindly, I put my law experience to work. Turns out, there are three things that make the lease unenforceable in a court of law:
#1 - There is a PURCHASE option right on the lease. If your bank rep isn't telling you about this, then they're just protecting their huge kickback from Ladco. If you are not allowed to purchase the machine outright, and you're forced into the lease, this is illegal.
#2 - Whenever you sign into a lease, the lessor MUST provide you with a breakdown of the lease. The cost of the equipment, interest rate, final aggregate cost, etc. The Ladco lease only states $49.99 a month for 4 years, nothing else. This is not a legal lease and can be fought in court if it does not have this info on it.
#3 - If you do not have business insurance, Ladco will charge you another $6.00 a month for "insurance" on the machine. This is mentioned NOWHERE on the contract and cannot be enforced. If they are taking this money from your account, either close the account and open another in another bank, or tell your bank to stop these auto-deductions.

I threatened Key Bank with these issues and they told me they "were going to do something for me they normally don't do" and that is cancel the lease. They are running scared now because I have found their weak spot and that weak spot is the lease itself. I've already filed a complaint with the FTC and the AG is next.

Have you started the process to get the class action suit together?

We signed with "Priority Payment Systems" who required that we take "Ladco Leasing's" Merchant credit card processing terminal for 48 months in order to receive their services at the quoted rates. We didn't need the credit card processing terminal, and told them that we wanted to return it.

We signed the agreement with "Priority Payment Systems", but did not receive any paperwork about the equipment lease from "Ladco Leasing" until 30 days later, and it was BACKDATED to the date of the first meeting.

Now it seems we are stuck with the credit card processing terminal, which we do not need. We don't even use it.

I was told by "Ladco Leasing" that we could “sublease the equipment” at our $69.00 plus taxes rate to someone else. I called "Priority Payment Systems" to get information about potential buyers, and was told, "they had nothing to do with Ladco."

This is truly a scam! I want to join you’re a class action lawsuit. We will owe $2900 at the end of 40 more months for a piece of equipment that we never wanted, were forced to take in order to even sign up with "Priority Payment Systems", and which we have never even used. Neither "Ladco Leasing” nor "Priority Payment Systems” gave us an "out” to return it when we got it.

I am filing complaints with the Texas Attorney General, the California Attorney General, the Federal Trade Commission, and the appropriate Better Business Bureaus of these companies. If enough of us complain, I am sure these agencies will be interested in investigating and taking the appropriate action against these companies.

Everyone who has been scammed needs to contact the Federal Trade Commission, the Better Business Bureau and their State's Attorney General, if they haven't already. Sign me up if there is a class action lawsuit!

Sincerely,
L.Schmidt

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

SORRY... I'm so frustrated, I'm having a hard time spitting out the words...LADCO says the equipment belongs to EPS90 and EPS90 says it belongs to LADCO!
ANY HELP OUT THERE?

I have a similar story to all of the above. I fell victim in July 2010! I did close my bank account and open a new one where they cannot just steal money from me every month, but they are threatening my credit unless I pay $6700.00 for equipment I did not need or want! They were hiding behind a company called EPS90. EPS90 said the equipment is not theirs and LADCO says they just wrote the check and the equipment belongs to LADCO...lies from beginning to end! Does anyone know if there is any legal action pending? I'm all into joining a class action if it happens.

I sent them so many certified letter, to Minneapolis, Knoxville...
Best way to stop them is to close the account in which they withdraw... Then they write nasty letters...me too
... now they acknowledge they owe me money...
I told them to send a check...no, they want my new bank address..dreamers...
Last letter I am taking them to court, small court, for the maximum authorized! $10, 000...room to negotiate

I have also been scammed by Ladco Leasing and their "sales" partner Bullseye Payment Solutions. If you are considering working with these sharks, RUN. I only wish I had checked forums like these before working with them. They also lied to me about the services they said they would provide, and lied about the value of the special equipment that they said was needed to do check financing. Turns out you can buy it online for $300 bucks, but they locked me in a non-cancel able lease for 3 years at $50/month. They do this to any sucker they can find. I can't believe they tricked me, I thought I was a savy business woman, but they flat out lied so I can't be too hard on myself. I hope that by writing this I can help anyone else out there, and also, I am interested in joining a class action law suit. Let's bring them down! I believe in doing business in an honest way, fulfilling your agreements, and doing good for others. Unfortunately, there are sharks like Ladco and Bullseye Payment Solutions that will do whatever it takes to steal and cause harm. I can be contacted at magictree11@yahoo.com

I have also been scammed by Ladco Leasing and their "sales" partner Bullseye Payment Solutions. If you are considering working with these sharks, RUN. I only wish I had checked forums like these before working with them. They also lied to me about the services they said they would provide, and lied about the value of the special equipment that they said was needed to do check financing. Turns out you can buy it online for $300 bucks, but they locked me in a non-cancel able lease for 3 years at $50/month. They do this to any sucker they can find. I can't believe they tricked me, I thought I was a savy business woman, but they flat out lied so I can't be too hard on myself. I hope that by writing this I can help anyone else out there, and also, I am interested in joining a class action law suit. Let's bring them down! I believe in doing business in an honest way, fulfilling your agreements, and doing good for others. Unfortunately, there are sharks like Ladco and Bullseye Payment Solutions that will do whatever it takes to steal and cause harm. You can contact me at magictree11@yahoo.com

Evidently this is a common scam. Another company in Oregon did the same thing, and was successfully sued by the FTC. I was just duped by Azura/Ladco and have filed a complaint with the FTC. Take a look at this link: http://www.ftc.gov/os/caselist/0523162/index.shtm
Complain to the FTC please.

Want out of this Ladco Scam?

Lets start with some Ladco history.

Back in November 2009, Ladco Leasing was purchased from a man named Leon Ladd by Elavon Merchant Services. Elavon DOES own Ladco, even though 9 times out of 10, they will tell you different. (Also, both of these companies are owned directly by U.S. Bank, so any line of credit or open accounts with US Bank can and will be drafted.) Many employees in Ladco were actually trained by Elavon, but training was all based on "need to know". Most Elavon employees don't even know they work in the same building as Ladco employees. Each side of the fence is told to direct your complaint to the other, mostly because no one wants to hear complaints all day. Sales people are trained strictly to make a sale and move on. Typically you will deal with customer service after the first interaction with your sales person. The fact that most customers that sign up for these services are typically rushed through review and signing of the lease agreement does make the ability to imply that you didn't read what you signed readily available to Recovery and Customer Service.

NOW- What you dont know.

Since the merge in 2009, Ladco's Recovery Department has stopped reporting debts to the credit bureaus, as they claim that it was "a better business decision". Of course they stopped. The agreement that you signed holds about as much validity contractually as the toilet paper you use every day. The secret? STOP ANY DRAFT ATTEMPTS BY LADCO. (Usually your bank can stop any/all drafts from a specific company.) Even if this means closing your existing bank account and reopening a new one. In your lease agreement, it DOES state that Ladco may draft funds from any open bank account or line of credit associated with your Social Security Number. Ironically enough, the only way they can find "any open bank account or line of credit" is if it's a US Bank account. Ladco pushes for ACH payments each month. Contact your bank if you are set up on this system, and stop drafts from Ladco. In their collection attempts, they will threaten "legal action" or "further collection" against you if you refuse payment. Some will probably say "Your credit MAY be effected if you dont maintain your obligation". The key word there is MAY. Legally, they have to say "may", because if they threaten action but never pursue it, your attorney is going to make you a rich man. Speaking of attorney, there is no need for one. Again, save your money. There are no legal grounds in which they can claim action under, and will typically try to use your credit as leverage for negotiation for payment. You really think a company that has accumulated as much revenue as they have are going to take you to court over a $200 machine? Doubtful. They're too busy ripping off other unsuspecting businesses.

In short- stop putting your hard earned dollars in the hands of crooks and criminals. Don't let them play the fear card. Your credit and your money will be fine, as long as you do as i've instructed above. Furthermore- Learn to treat your employees well and subtle hints and tips such as these wont ever surface about your business. :) If you have any further questions about your specific case or agreement, feel free to contact me via message. I would love to help, and there is plenty more information i can provide if necessary. So good luck and God speed! I pray that the thousands of people effected by this scam recover strongly and learn a valuable lesson in the process.

They are a bunch of Criminals!

Your comment is that all of us failed to "read the agreement".
Well, I read the agreement.

And the agreement states one thing... Ladco & Elavon state another, and both deny they are the responsible party.

My contract clearly stated "NO POS". It also states we are a "Telephone / Internet sales only" service.

I took notes from all conversations with Ladco and Elavon.

I was sent a POS device. Three days later I alerted both companies of this error on their part.
I requested the RMA to return the item.
They BOTH refused to provide the information and correct their problem.

In the end, I found (via help from others who filed complaints) the RMA destination address.
I took pictures of the item.
I returned the item certified mail - no RMA number provided.
The package was accepted and signed for.

I received numerous collection attempts from BOTH Ladco and Elavon.
Both companies then hired collection companies claiming their individual debts.

I challenged each attempt via certified letter to the collection companies, showing my contract clearly states NO POS, yet a POS device was sent.
I included all correspondence I had with both Ladco and Elavon showing both refused to correct the issue 3 days after receipt.

The result of each letter was a confirmation of receipt letter from the collection companies stating they are dropping the collection and returning the debt and all communications back to the respective companies.

The Ladco and Elavon services were never used (no merchant charges every processed).

To this day, a folder remains on my desk ready for legal action against either company.

Is there a lesson learned out of all of this? YES.
1) To start a merchant account that will use a POS, buy one on line (EBay).
2) Make sure your purchase does NOT include any Merchant service agreements.
3) Find a reputable merchant processing service - They may try to convince you that you need THEIR POS device. If they push it, tell them to forget the service and walk away.
4) Make sure the contract you sign only has ONE Company name - the Merchant company.
5) Make sure there is NO WORDING that says "LEASE".
6) Since you will have your OWN POS device, YOU control the terms. Do NOT Sign a multi-year agreement, you don't have to as you own your POS.
7) Make sure the contract has wording of.. trial period and cancellation period. If not, have the sales agent write the wording in and have them sign it. The companies may refuse to accept the written changes but the Agent is their employee and he/she represents that company.
8) Always keep records of any issues you have with your merchant processor. As they can drop you for "grounds", you can also drop them for "grounds"... "grounds" being "cause"... I just like the wording.

I am not a lawyer, I just learned the rules of how to complain and back-up your complaints.

To be completely honest, you are all just ignorant to that fact that you DID NOT READ WHAT YOU SIGNED. Dont blame it on the company thats taking your blatant stupidity, blame yourself. A snazzy salesman came into your shop saying that they're offering you "the best deal in town". While they talk fast and use big words or just say to leave all the work up to them, you sign away blindly without actually stopping and taking a look at what you're actually agreeing to.

Now as an intelligent, sophisticated business owner that you are, you're EXPECTED to read the agreement that you're accepting. I could tell you that i'm going to give you every bit of money that my entire company makes until i'm blue in the face, but on paper it could actually say that you're paying me every dime you make. You sign your name blindly to a complete stranger who happens to be promising to solve all your problems. How great of a business decision is that? And you wonder why your small businesses are failing. Put your violins away.

Lastly- When you threaten legal action to any company, make sure you read their terms of service. Keep in mind that numerous attorneys have written this contract, that you paid no attention to, to get exactly what they want which is obviously your money. Enjoy your lease agreement! :)

I would definitely love to get involved in a class action lawsuit. After being told that I could save several hundred dollars a month if I made the switch, I have ended up paying more each month in fees and rental costs, which I didn't have before. That's $1800 per year in funds that I'm paying for the same service I had before.

Big ripoff!

I'm sending in my complaints and threatening legal action.

I am an artist-person. Last year I participated in several street festivals, and got a complimentary space at a 4-day festival.I went to my small-ish regional bank in Nov.2009 to inquire about accepting credit cards. I was referred to an Elavon sales rep, who offered me service through MyVirtualMerchant. The deal was $39/month for 36 months for "virtual merchant software." They sent me one of those old-school, non-electronic hand-cranked card swipe thingamajigs, for which they charged me a one-time fee of $30. The procedure is to swipe the customer's credit card, fill in the credit card slip, and record the customer's address data. Then I go home, pull up the MyVirtualMerchant site on my computer, enter the data and wait for the authorization response.

I now have a fixed location for my small business, an art studio/gallery/shop. I have a space in a 100-yr-old brick building, and do not have even a phone line yet, nor internet service, so my procedure is the same. Collect the data, go home in the evening and enter it into MyVirtualMerchant, and it shows up in my bank account in a day or two. I am being billed $42.02 a month, and I don't even have any electronic swipe machines.

After reading the comments in this thread, and doing some on-line research, I'm beginning to think I'm being scammed big time. I admit I should have read the contract I signed more carefully, but I was young and foolish and didn't know there were other options besides the one the bank referred me to. I requested a copy of the contract from Elavon back in April, but they never sent it to me, so I don't know what it says about cancellation. Now I am old and wise, and have a sneaky feeling that I am being scammed.

Comments welcome...

Yea, my Wachovia branch reps acted like my experience is an isolated incident--BS! Please, I can't stress enough how important it is to file complaints with all of the following:

Federal Trade Commission, Federal Comptroller of Currency, the Office of Financial Regulation in your state and in Ca. (Ladco's headquarters), Ca. Dept. of Justice and your Attorney General.

This will generate results. I found a class-action suit on line that no one ever followed through with. So, until Ladco scams an extremely self-motivated attorney, I wouldn't hold out hope.

Please sign me up for any class actions suits as well. And extend to Elavon Merchant Services, and subsequently Wachovia bank. I opened a mobile recycling collection service and my banker at Wachovia said Elavon was the perfect solution for my customers. The Elavon Merchant Services rep, Ryan Wolfe, said the services would be $30 a month for unlimited transactions, which was reflected in the contract I signed.

I learn on my next bank statement that I'm in a 3-year $2, 500 contract with a company called Ladco Leasing for hardware. This recycling company has no physical location so how could I possibly need to rent credit card scanning equipment? I'm now regularly paying over $100 a month with monthly revenue's of a little over $1, 000. Thanks Wachovia. I've called several times to try to find a way out and i've spoken to a lawyer, but it's cheaper to pay it than file a lawsuit.

In Solidarity.

I too, have been scammed by Ladco Leasing AKA: Azura Leasing and Payment Systems.
The Sales rep told me completely different than what the small print apparently states.

The original document I signed did not state that I would have to pay $49 for 60 months plus taxes and insurance. They actually wrote it in afterwards. Luckily the documents were sent out through my e-Fax account, which saves all outgoing faxes and leaves a paper trail. The contract they sent me, that I had supposedly signed did not match the one I actually sent out.

I am sending the equipment back, I have already closed the bank account they currently have on file, and I will ignore any other requests from them. I am willing to sue for misrepresentation and fraud. Sign me up for any Class action suits. I will be making a claim through the BBB as well.

I refuse to pay for something I was scammed for, and if they decide to place this on my credit, I will ask for a Debt validation, which will obviously be disputed the same way.

Let me know if anyone has any suggestions or ideas about my case. Thank you and I hope we can think of a way to get the word out so other people don't fall in the same mess. Media, FBI, BBB...

Hello fellow "Dupes"! I can't believe it myself but, it appears that I have won my battle. Recently, I was able to get all 3 credit reporting bureaus to remove the negative info. that Ladco placed on my (otherwise spotless) credit. At the risk of giving away secrets, I will disclose (loosely) some key tactics I used: Don't wait for them (Ladco) to send you an RMA. That's like asking the drug dealer who just sold your 12 year old pot to please give you a reciept. I actually mailed the equipment in a box with festive birthday stickers on it & addressed it to a Ladco CEO. The guy signed for it & I got a return receipt back with a very legible signature on it. Second, and more importantly; Lean on your bank HARD! They are in bed with Ladco, no matter how much they deny it. They may not know exactly how shady Ladco is but, they are willing to look the other way when they see the big kick-back checks! What your bank must realize is that they are only successful if you (the small business owner) is successful. They should take a healthy interest in your survival. They should not support criminals in ripping you off! This is a scasm and it should be brought to the attention of the Federal Trade Commission, Federal Comptroller of Currency, the Office of Financial Regulation in your state and in Ca. (Ladco's headquarters), Ca. Dept. of Justice and your Attorney General. Yes, I had to send a complaint and fill out forms for each of these institutions. It has all taken hours of man-power and most of my energy. I'm certain my business has suffered but, we remain successful despite Ladco's attempted destruction. Stay strong, remember you have done nothing wrong but trust the wrong people. Don't give up hope and God bless all of you!

We need to get together and do something, it happend to me and I want to make sure it doesn't happen to others

Ladco Leasing is a company full of scam artists and unhelpful workers. If you have ever had a man called Kevin Hall come by your store and offer you free equipment but get stuck with a 5 year contract with Payment company then you know what it is like. Ladco is not the kind of company that should be allowed to conduct business with small business owners. And they will not honor the small business community and it s ethics toward there commint to good service because the salesman did not disclose the contract about the equipment. It was going to be 5 years at $179 a month. Where in the world did they come with this kind of money to charge for a N-P1300 and a N-T4210-306R. They must be drinking or smoking something really good. DO NOT DO BUSINESS WITH THIS COMPANY EVER.

LADCO leasing(www.ladco.com) and their partner in crime ELAVON Merchant services(www.elavon.com) are legal thieves.
My company was hooked in by ELAVON's promise of 24 hour account setup.
The LADCO lease page was viewed and questioned as to why is there a lease contract when we will not be getting any equipment as we are a phone and fax order company. We were told ELAVON that the lease page is just a formality as there will be no equipment. The LADCO page is just for the online merchant service license (like quickbooks online). That we understood. One week later this turned out to be FALSE! A big LIE! A package arrives with POS equipement. We contacted ELAVON and they said "YOU SIGNED THE PAPER". They told us to contact LADCO! LADCO says they only provide funds and have already paid ELAVON. LADCO says ELAVON provides the hardware. ELAVON says LADCO provides the hardware. They send you back and forth so you would give up. Well the POS products are still in their sealed packets. The Shipping box contained a letter stating, "at the end of the lease to make arrangements to return the product to LADCO leasing". If LADCO is just the "leasing" agency that fronts the money to purchase the equipment, then WHY is the equipment going back to them.

After further calls to LADCO it turns out the equipment is from them. In fact, what they ship may or may not be new. Their "Software package" is a windows application to utilize the magnetic strip card reader. Total package price $300.

We tried to return the package to LADCO 3 days after receiving it.
LADCO(www.ladco.com) wanted the FULL LEASE PAYMENT first before they would provide an RMA. Why would I pay for equipment I did not order, do not need and did not ask for. It is a SCAM of a company!

I am fully ready for any class action participation.

Below is a letter I have mailed to Ladco and others involving problems similar to the ones mentioned above. When I learn more I will file a similar complaint myself.

Ladco Leasing
SDS-12-2896
P.O. Box 86
Minneapolis, MN [protected],

To whom it may concern,

I am receiving a bill regarding 2 credit card machines that I believe is either incorrect or fraudulent.

I am told on the phone that this for bill is for a machine that I signed a contract for approximately 6 years ago. Your leasing company is telling me the the contract originally began as a 4 year contract that obligated me to pay you $32 per month for one machine and $27 per month for the second machine and that the contract automatically renewed if I do not discontinue it in writing. The company tells me that each machine is worth $120 and that they were sent to me when I arranged for accredit card processing contract. They also say that the first machine in question was last used in 2006 and the second machine in question was last used in 12/2009. One machine is said to be connected to my tax ID # and the other to someone else's. I have never used more than one machine.

In 12/2009 I changed my credit card processing account to Wells Fargo and according to instructions, returned by mail the machine I had been using in association with my previous credit card processing contract.

I discovered these ongoing charges a month ago when I discovered that the charges were automatically being deducted from an account that I was holding - I thought - idol until an issue with Medicare finally cleared up. (In fact, I had thought the account closed.) I am not sure why they were paid without question prior to that but I believe my account thought they were legitimate and I wasn’t aware.

While I do have a copy of the contract with Nova, I have no copy of the alleged contract with Ladco and when I asked to see a copy I was told that I needed to either authorize another $10 deducted from my account or give a credit card # to pay $10 to see the contract. I obviously do not want to send more money to a company that is somehow swindling me.

I did sign an agreement for credit card processing. The agreement mentioned above however is either mistaken, a small print scam or fraudulent. No one would knowingly sign an agreement obligating them to pay $27 or $32/month for 5 years for a $120 machine, especially for machines they long since returned. I could never have even used the one associated with someone else’s social security #.

WOW ; am I glad I decided to do some research about Ladco Leasing Co. and come across the complaints filed here. Or should I call them ( Ladco Scamming Co. )I to have obtained my equipment and merchant account with TRUSTED business associates at USBANK. Go figure why have I read so many complaints filed here mentioning they recieved the same through USBANK ? HMMMN ? My fees were automatically deducted from my business account as well until I started noticing the increases in the fees from LADCO. I then decided to switch banks to Wells Fargo, and they said I could keep the equipment as it would work with Wells Fargo's Merchant account. I did however have to pay a closure fee of $60.00 to close my business account with USBANK and the USBANK Merchant account with ELAVON wanted to charge me a $250.00 for early termination of contract; which I refused to pay as I felt I completed it after the two year agreement. After I switched banks and got the equipment to accept charges to my Wells Fargo business account ; I could NOT get any assistance from Ladco, Elavon either bank in getting my gift card program to work and accept all the gift cards that my customers hold with dollar values on these cards. To this day I cannot get any help on the gift card program. I then started receiving statements requesting various increasing monthly amounts from Ladco which I refused to pay as the monthly amounts were never the same amounts and extra add on fees. Many many letters from Ladco to my business address even my private home mailing address? how did they get that? I recently received a (Private Caller ) on my caller ID phone call at my place of business; where the gentleman stated he was a licensed Private Investigator from lower California trying to verify some information about me and my business and told me to call back with a reference case number? So I called back to find out what it was about ? A Private Investigator ? I never had one call me or my business before? He stated that he was calling on behalf of Ladco Leasing that we were way behind on our payments and refused to respond to any of the statements or phone calls from Ladco Leasing; and that if I did not agree to pay them the past due payments or buy the equipment from them for $1176.00 they were going to sue me and my business; he then also told me that if I did not do something right now today. The paperwork would be filed and there would be nothing I could do about it as this would be the ONLY phone call I would have and they would not honor my calls after this offer...? Woah; I said I do not want to be sued what can I do? He said pay the $1176.00 and you will then own the equipment. I said I needed to speak with my other business associates and my bank, if could I call back on Monday with a decision. He then agreed to that. So that was Sat. 01/30/10 and today is 02/01/10. So guess what ? Ladco will NOT RECEIVE 1 red cent from me...they will however get complaints filed against them here, there and everywhere including the BBB and local authority's from me and my business. I am so glad I found this site and all these complaints. As of today the machine will be shut off and boxed, I will then be contacting my Merchant account with Wells Fargo and discontinueing that as well. I would like to say 'THANK YOU' to all the people that have filed there complaints on this site; you all have helped me immensely.
Scott N.