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Evalon / Ladco Leasing
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Evalon / Ladco Leasing
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Evalon / Ladco Leasing Complaints Summary

10 Resolved
10 Unresolved
Our verdict: While Evalon / Ladco Leasing has an above-average resolution rate, there’s room for improvement. Investigate common issues reported by customers and understand how they were resolved. Be prepared to follow up on your queries if needed, and keep detailed records of all interactions.
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Evalon / Ladco Leasing reviews & complaints 20

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3:41 pm EST
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Evalon / Ladco Leasing Failure to honour lease termination agreement

I am a business owner in Canada. In November 2022 I contacted Ladco to terminate a lease on a point of sale device that I had with Ladco. The reason I was terminating the lease is that my credit card processing company (Elavon) had imposed fee increases twice within a six-month period. According to the Canadian Code of Conduct that allowed me to exit my arrangement with Elavon; also to terminate the lease of my P.O. S. device with Ladco.

When I contacted a sales rep with Ladco, whose name is "Gary C.," although initially he did not want to allow me to terminate the lease, in the end, he agreed to do so, writing: “Very well. I will submit the request... When I get the assets logged in and confirm the Elavon account is closed I will request the termination of the lease.”

However, Ladco has continued to debit my bank account for lease payments. When I contacted Ladco again to ask why they were not honouring Gary C's commitment I was told that my lease has not been ended and they will continue to withdraw payments from my account until the lease expires.

In other words - we lied.

Desired outcome: agreement by Ladco not to debit our bank account and a refund of the amount taken this past month

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Evalon / Ladco Leasing Poynt terminal lease

My business closed two years ago after I became permanently disabled. I still couldn't get them to end my lease, even though I literally cannot work or make money. All my other financial obligations were able to help me out and did so with compassion and respect. Not Ladco. They continued to charge me for years and then never sent a letter when my lease was finally ending, and thus continued to charge me month to month. All in all, I have had to spend nearly $3000 on a $100 piece of equipment. I feel absolutely scammed and it should be illegal to continue to collect on a lease when the person is permanently disabled. Even my student loans were discharged, which tells you the level of scam going on at this company.

Desired outcome: I’d love for the company to get shut down or put on blast so nobody ever signs another lease with them.

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Evalon / Ladco Leasing Excessive price gouging

I am pretty pissed off at myself, but more so with Elavon. I leased 2 terminals for my companies. 4 year agreement at $34.00 a month. So that should be $1632 for the lease. With an option to continue the lease or purchase for $400.00 So, that would be about $2000.00 for each terminal at a cost of about $4000.00. FOR A $300.00 MACHINE!

I have read alot of comments on this board about Elavon the parent company of Ladco Leasing. Yes we all were mislead and I cant even get a legible copy of my lease agreement from Ladco about how they calculate charges. But this month, for some reason I received an additional bill of $25.00 per terminal. I can not get an answer from Ladco on what the charges are for. Others on here say it is for taxes. What taxes? Federal? State? Tennesee Leasing Agreement Tax? Not sure.

I too have sent a complaint to the BBB about Ladco and Elavon. No answer or result in helping get out of a contract. I stopped using them last month and went to another company that offered a free terminal, free product support. But I didn't send back the terminal. I am keeping it and just paying the monthly fee so they cant collect and send the terminal to someone else. My fees increased because they wont apply my insurance letter I sent so now I pay $51 a month.

So in my effort to have an investigation of Price Gouging, I sent a formal letter of complaint to my Attorney General office. I suggest you all do the same. As a business owner, I to agree that we have to make some money to survive. But, when you are the company that is charging you a rental fee for the terminal, charging you $50.00 for paper AND collecting the percentage of sales? That is a little price gouging.

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Is Evalon / Ladco Leasing legit?

Our verdict: Evalon / Ladco Leasing has achieved a rare feat of perfection in legitimacy, as per the rigorous analysis conducted by Complaints Board. This achievement underscores Evalon / Ladco Leasing's position as a benchmark of trust and quality within its industry. Users and clients of Evalon / Ladco Leasing can engage with its offerings, confident in the knowledge that they are dealing with a top-tier, fully legitimized company.

Evalon / Ladco Leasing earns 100% level of Trustworthiness

Perfect Trust Endorsement: Evalon / Ladco Leasing achives 100% ligitmacy per Complaints Board. Highly recommended, yet always stay vigilant.

We found clear and detailed contact information for Evalon / Ladco Leasing. The company provides a physical address, 11 phone numbers, and 2 emails, as well as 2 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.

Elavon.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

Elavon.com has been deemed safe to visit, as it is protected by a cloud-based cybersecurity solution that uses the Domain Name System (DNS) to help protect networks from online threats.

Elavon.com you are considering visiting, which is associated with Evalon / Ladco Leasing, is very old. Longevity often suggests that a website has consistently provided valuable content, products, or services over the years and has maintained a stable user base and a sustained online presence. This could be an indication of a very positive reputation.

Evalon / Ladco Leasing website is deemed to be popular and indicating that it receives a high volume of traffic. It is important to be cautious when using a highly trafficked website, as it may be a target for cybercriminals looking to exploit vulnerabilities or steal personal information.

Elavon.com regularly updates its policies to reflect changes in laws, regulations. These policies are easy to find and understand, and they are written in plain language that is accessible to all customers. This helps customers understand what they are agreeing to and what to expect from Evalon / Ladco Leasing.

However ComplaintsBoard has detected that:

  • Evalon / Ladco Leasing protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
  • We conducted a search on social media and found several negative reviews related to Evalon / Ladco Leasing. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.
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Evalon / Ladco Leasing POS Terminal machines

In 2001 my wife was approached by I believe initially by First Data services which eventually were switched to Elevon administered by Ladco leasing. We used their equipment for approximately 4 years at pre determined monthly fee which seemed to increased considerable over time. Now when we closed our business in Aug/2015 and wanted to return our lease equipment, they did not allow us to return the equipment until we paid penalty amts for visa, mastercare $250 each and then $968 more deducted from our bank acct and then they wanted more but offered a so called deal which we took since the payments never seem to end and now they are still after more money . We have returned the equipment and paid the amts they requested which I am feeling guilty about but did not know where to apply or who to approach without having to disburse additional money. We we just a small used book family owned company and worked for minimum wages. We believe this company to be fraudulent and without any scrupules and will go at any lenght to access merchant's hardearned money to which much of they are not entitled. Our problem is that we can't locate any contract. It has created enormous marital and financial stress for months on end. Is there any class lawsuit we could join. We have dealt with the Knoxville Ladco Office Most sincerely Mr Pierre Seguin any help or assistance would be greatly appreciated asap.

February 9th, m 2015

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Evalon / Ladco Leasing lease payments beyond the time of my restaurant building lease

In 2011 I leased a small building for four years and opened a restaurant. I recently closed it and called Ladco to return the terminal which I haven't used for a year because I went from Elavon to another credit card company. I called yesterday to find out where to return the terminal and was told I had 18 more months of my lease and would have to pay 1332.05 when I returned the terminal. I would never lease a piece of equipment when the lease for the business would run out before the terminal lease would. I called yesterday and asked them to send me a copy of my original lease to my e-mail address but they did not. They were rude and told me to "have a great day". I am interested in joining a class action suit. Thank you L. C. Franchetti

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Reubass
, US
Jul 11, 2011 8:34 pm EDT

I cannot believe I didn't read the fine print. I trusted the sales person and I am learning an expensive lesson. I will I had read the complaints about them before I signed. My story is the same as everyone else... sad when companies take advantage of consumers instead of providing them with value.
Reuben

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Evalon / Ladco Leasing Scam

For any of you who could utilize this information, here you are:

Erik Porter is the Director of Business Development at Ladco Leasing (corporate office in CA) from Jan. 2011 to present.
Formerly he was in Sales & Marketing with U.S. Bank in the Business Equipment Finance Group for 7 years.

LADCO's domain is LADCO.COM. The registrar is NETWORK SOLUTIONS, LLC (URL http://www.networksolutions.com). Updated Oct. 14, 2011, Expires Dec. 13, 2012. DNS servers are: DNS4.ELAVON.NET, DNS5.ELAVON.NET, DNS6.ELAVON.NET.

The LADCO's "Lease Flow Funding" form agreement between LADCO and the Agent who signed you up has 4 in-depth Steps to "sealing the deal". LADCO utilizes the services of EPS (Electronic Payment Systems) to move funds accordingly. As most of you may know by now, the rep that snagged you gets a healthy "kick-back" from LADCO for doing so. This is what you're paying for. When I confronted the rep that attempted to "rape" my company using LADCO about how much he made off this deal, he could only look down at the floor and mumbled, "Not very much."

My reply, "Well it's enough that you don't want to give it back though, isn't it?"

All the Steps are enlightening but Step 3 and 4 are especially informative (this is all typed verbatim from the form):

STEP THREE: Verfication

a) Notify Ladco that the equipment has been installed or have your installer call LADCO Leasing when finished from the customer site [protected]).
b) You can call LADCO from the merchant's location, have the merchant contact us, or you can call us and let us know and we will contact the merchant.
c) Please have the Equipment serial number and MID# ready at the time of confirmation.
d) LADCO will walk the merchant through a verbal checklist to make sure they understand the terms and nature of the lease.
e) LADCO MUST (underscored) verify with the person who signed the lease.
f) LADCO is available 7am-4:00pm PST, Monday through Friday

STEP FOUR: Funding of Lease

To Fund, EPS must have:

a) A PERFECTLY LEGIBLE faxed or the original equipment lease properly completed and signed. EPS can approve from fax copies but requires the signed document to be sent with the Merchant application and all associated paperwork.
b) A confirmed verbal verification of delivery, installation, and functionality of ALL equipment that is the subject of the lease document.

When we have a complete package and all items listed above EPS will issue a check and send it out within 24 hours of the verbal verification. Next day delivery is available.
(Bolded and centered)
Congratulations - Now let's do it all over again!

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Evalon / Ladco Leasing - Credit Card Processing Scam

Like so many stories before, we were unscrupulously duped by Ladco Leasing. I certainly wished I would have googled them before falling for this horrendous scam. Unfortunately, the account representative that was trying to get me to change processors never mentioned anything about Ladco. Our business was cold called by Entrust Bankcard Services, which...

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Evalon / Ladco Leasing They might as well use a gun

Ladco leasing is a complete rip off. Do NOT lease credit card equipment from these ###. They might as well have put a gun to my head and robbed me. I was a new business owner and didn't know any better. I signed a 4 year lease for 2 credit card terminals for a $176 a month fee. I just purchased the same equipment for $149 per terminal. I paid them over $8000 to use their terminal and twice when power cords broke it was a HUGE hassle to get them replaced, AND I HAD TO PAY FOR THEM.

Run away from these ###. Just Google them. That will tell you what [censored]-bags they are.

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Evalon / Ladco Leasing Unfair business practices

I still kick myself for going with Ladco Leasing...I went to my USBank rep who I trusted to give me great advice on a merchant agreement. After telling me how great the service was and how much cheaper it was to go with USBank merchant services...I drank the kool-aid. Now that I think about it, I should have just gone with Paypal and paid the 3% transaction charge and not getting excited about the 2.1% these jokers promised. What they don't tell you is...you have a monthly service charge from Evalon and then I had to lease equipment from Ladco Leasing...this is where the problem starts. Ladco told me the only way to do credit cards over the internet is to lease their equipment to process the card over the web. So, I wasn't leasing any equipment, I was leasing the internet. Not knowing it was a personal guarantee for 4 years. I signed up. The company closed and they still wanted their monthly lease. Since, I bank at USBank they would steal money out of my personal accounts. Even took money out of a another company, that I was a partner in, which we banked at USBank. When I formally complained to USBank and demanded that money back, they did, but now have collection people coming after me. Not sure what to do but going to continue to fight them.

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determat
Sherbrooke, CA
Apr 24, 2012 5:34 am EDT
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100% agree with you. Promise you save money on transaction where you do save some money:
They don't tell you about monthly service charge and then I had to lease equipment. Also you have to pay 50$ insurance on the machine and tell you it's worth 2000$ if you want to buy it. Where on the internet you can get them for 100-200$
Will change company (go back to global) as soon as contract is done.

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Evalon / Ladco Leasing CONTRACTS

I am very disillusioned with Ladco Leasing and Elavon processing. I closed my business several months ago, I called both Ladco and Elavon to close the accounts and return the terminal. I signed a years lease which ended in March of 2011. I was informed by Ladco that I still had 36 months remaining on the lease which is impossible first off, then they proceeded to advise me that I could purchase the terminal for the amount of $1, 710.00 this is their fee of $47.50 per month for 36 months, I was shocked considering you can buy a new terminal ( same as I have ) for around $200.00. Either way I am paying the same amount. I was told that they could try and sub lease the terminal but there is $100.00 charge for this and no guarantee they will locate another company to take over their terminal. This is crazy. I also would like to locate anyone who has started a class action suite against LADCO, I would like to join the suite. Elavon also wants to charge me $190.00 to close my account with them. I am looking for advice from anyone who has dealt with these crooked companies.

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Tjsalo
Winnipeg, CA
May 17, 2013 2:32 pm EDT
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I as well am very dissatisfied with Ladco. I think they are unfair and unwilling to help their customers. All they want is your money through your bank account. DO NOT GIVE THEM ACCESS TO YOUR BANKING INFO! They will start charging you hidden fees and when you are fed up with them, they will say you have signed a lease and the only way out is to pay them for it.

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Small Town, Tenn.
Camden, US
Mar 14, 2013 9:29 pm EDT
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I received a phone call from a representative of Ladco Leasing who basically conned me into leasing their product. Myself, being a new and first time business owner wanted to provide my customers with a ATM service. Unfortunately I was robbed 3 months after receiving equipment. I never could build the money back up to run the machine, but continued to pay for the ATM machine for 2 1/2 years until my business was forced to close due to the economy. At that point they said I owed them 10, 000.00+ dollars.After telling them that there was no way I could do that it jumped up to 14, 000.00+!Well I personally took the ATM machine to the place they asked it to be returned to in Knoxville.At that point it was turned over to a collection agency who basically threatened to sue. taking me to court and putting a lean on my home. I was able to work with them settling for 7, 000.00 dollars in which I had to borrow money from bank to pay. I deeply encourage anybody to steer clear of this company if anyway possible!

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Evalon / Ladco Leasing Stay away

On June 25, 2010, the salesman name Marc Palluck (Paradigm Direct Company) came to my shop and showed me the way to save money if I switched the service to Paradign Direct. I was promised that could cancel the service any time without penalty. I did cancel the service after 2 months using their service. After canceling the services, I received phone calls from Nick Adams- CCA ( Ladco Company) harassing me and want over $8000.00 for breaking contracts. I kept telling him I did not sign any equipment leasing with his company. To the point I could not communicate with him, I hired a lawyer to represent my case. Around the first week in March, Ladco's Lawyer email the copy of the leasing. This is the first time I saw the leasing equipment with Azura and Ladco Leasing company. They forged my signatures on all the contract / leasing equipments.

Now the Ladco' s Lawyer email to my lawyer: " The CCA representative is authorized to speak to you about trying to reach a resolution and will be contacting you to discuss settlement alternatives."

You guy should asked them for a copy of the contract / lease and look carefully to see if you sign that.

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Evalon / Ladco Leasing Forged signature and fraudulent business practices

I owned a small business and was interested in getting financing for my customers. I looked at several options and chose a company. I was told I would have to lease a specific machine that takes images of checks. I was also told if I didn't like the service I had 30 days to cancel. After a couple weeks, we decided we didn't like the service and tried to cancel. I was then told sorry you're stuck. Best part, the company that leased the machine to me Ladco Leasing is demanding $6100 to cancel a 2 year lease! I tried to explain to anyone that would listen that I was conned into getting the service to begin with but all I keep hearing is you have to pay. Then when I asked for a copy of the paperwork that I signed, they have that I signed a personal guaranty, something I would have never done. Now they're threatening to sue me. Anyone interested in investigating filing a class action lawsuit against this company so they cannot continue these practices, please contact me at [protected]@yahoo.com. I refuse to give in to their scare and bullying tactics. STAY AWAY FROM THIS COMPANY!

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dubitable
Winston-Salem, US
Apr 21, 2011 11:20 pm EDT
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There is now a Facebook page for Ladco Complaints
https://www.facebook.com/profile.php?id=100002111000245

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dubitable
Winston-Salem, US
Mar 04, 2011 8:34 pm EST
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See post above by "Dubitable." And see post below mine from LUIS kim. Do not give up. Prepare for a fight, but I believe it's a fight that you can win. I argued unconscionability and BEAT THEM. I got out of the contract. But it's great to see that someone is finally working on a class-action suit. I'll be glad to be a part of it.

@LUIS kim Count me in. I'll furnish details on how I got out of my contract.
debwillard4050@gmail.com

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:44 pm EST
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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.

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dubitable
Winston-Salem, US
Jan 13, 2011 1:29 pm EST
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I BEAT THEM. I did some research on contract law and learned about the Doctrine of Unconscionability, Section (2-302) of the Universal Commercial Code. It is protection for the little guy against unfair, extremely one-sided contracts with big companies. Here are some helpful links:
http://library.findlaw.com/1999/Jun/1/131178.html
http://www.law.fsu.edu/journals/lawreview/downloads/334/dimatteo.pdf
http://www.drbilllong.com/Sales/U.html
http://www.law.ua.edu/lawreview/articles/Volume%2058/Issue%201/schmitz.pdf
If you signed a pre-printed contract that contains terms that were not actually negotiated between the two parties, if you felt you had no other choice but to sign it, if it is very one-sided, you may be able to argue unconscionability.

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sqz
Cornelius, US
Jan 12, 2011 11:47 pm EST

You should contact your state Attorney General. Check them is they ahve register in your state. This company is scam. They did same thing to me.

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Evalon / Ladco Leasing credit card processing fees

Same as the previous two guys. The old bait and switch.

Paradigm representative J.W. showed up at my business asking to see my old processing statements. He ran a bogus analysis showing how much money they could save me. I asked why I needed the credit card swiper when my POS already was capable and he told me that because they don't make money on the processing, they make it on the Ladco lease. I said OK, we shook hands, and I signed.

A month later my first bill arrived and the rate was about double the quote. I complained to Jessica at Paradigm and she said she'd move me into the A+ bracket and I'd see the promised savings. Those savings never occurred.

The next step was to call Ladco leasing and file a complaint. I spoke with Chris, a manager, who was initially helpful. He asked that I send him a letter and documentation of the representations made by Paradigm. He would then send them up the chain of command. If my complaint was deemed valid, they would try to pressure Paradigm into refunding what Ladco had paid them and possibly let me out of my lease .

A week later I spoke with Chris again and he stated that although I was clearly "given erroneous information" there was nothing he could do. I then told him I'd be contacting a lawyer and he curtly told me our conversation was over.

Since then, I've talked with two lawyer friends of mine and they pretty much told me they are not doing good business in the least. I even have the original documentation of the quotes. Nice legal system.

Bottom line is I now pay about $400 more a month than I did before. I'm told if I break the Ladco Lease I'll owe around 5K. Paradigms another $750.

My next step is to file formal complaints with the secretary of state for both CO and AZ but I'd be surprised if anything comes of it. The problem is that this industry is the new mortgage biz and there are ### everywhere. If anyone has any suggestions I'm all ears. Stay away from both of these companies.

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:47 pm EST
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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.

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Evalon / Ladco Leasing leasing fees

Ladco Leasing is billing me $42.02 per month, with a 36-month lease, for the use of "Virtual Merchant Software."

I do not have any equipment other than the old-school, non-electronic hand-swipe thingamajig, for which I was billed a one-time fee of $30.

Am I being scammed?

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:48 pm EST
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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.

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Evalon / Ladco Leasing - credit card Terminal

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 wa...

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Evalon / Ladco Leasing Sales person check box non cancellation

I was referred by my bank Regions to Ladco leasing after working in bank for 23yrs and knowing about merchant services I was told by Ladco that my contract was non cancellation. I never sign anything I can't cancel I have been paying this company for 5yrs now totaling 4000 for a machine for 350 or less and they still debiting my account for all kinds of unauthorized fees and every time I call to see when contract ends I get a different response. I am willing to join a class action suit also very much pissed off.I hope they will pay back every cent they have stole from business.

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Karinusia
Algonquin, US
Jun 12, 2011 12:16 am EDT
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I just learned that I signed the contract with them, being trick to do so by a sales person. I am willing to look into pressing charges, I wanted to return the equipment in a first week. They wouldn't let me.

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:43 pm EST
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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.

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Randy WF
TUMWATER, US
Feb 21, 2011 9:08 pm EST

ANYONE KNOW IF THERE IS ANY SERIOUS CLASS ACTION LAWSUIT TALK GOING ON ? FROM THE LOOKS OF THIS WEBSITE, THERE'S PLENTY OF VICTIMS AND THEY ARE ALL CLEAR ON WHO THE PERP IS!

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Randy WF
TUMWATER, US
Feb 21, 2011 9:02 pm EST

TOTALLY AGREE. LADCO LEASING IS THE MOST UNDERHANDED COMPANY I'VE EVER DEALT WITH. I AM ALSO HAVING A HUGE ISSUE WITH THEM TRYING TO EXTORT $6700. FROM MY BROTHER AND MY BUSINESS. IT WILL PUT US INTO BANKRUPTCY! THEY LIED AND CHEATED AND COULD CARE LESS !

S
S
screwladco
Wetumpka, US
Apr 10, 2010 6:16 am EDT

Hi, I too am going through crap with Ladco Leasing. I did have the gumption to put a block on my checking account but now they are threatening me with $1800 bill or they will ruin my credit. I can't afford an attorney because my business is now closed. Is anyone aware of a class action suit I can join?
Thanks

D Starr
dstarr@elmore.rr.com

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Evalon / Ladco Leasing - ladco leasing scam

Thank goodness I am not alone in this leasing nightmare, like so many of you I started a small business and was convinced by a very friendly bank repersentative at my local bank to go through them for merchant services. At the time I was going to go with an online service where I bought the equipment for a couple of hundred dollars and they needed a letter...

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Evalon / Ladco Leasing over charged and not reimbursed

I had closed my business, and wanted to finalize my leasing the credit card machine (it was paid off)...they kept charging me and 3 months later I still haven't received a credit on these charges. I have emailed them twice, called a few times. I can't close my business account until this is finalized.

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:51 pm EST
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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.

Z
Z
Zeta155
Atlanta, US
Oct 26, 2010 5:44 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

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.

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Evalon / Ladco Leasing RE: Month Charging from Cking Acct

It has come to my attention that Ladco leasing has been charging me a fee every month for the last to be safe 4 years at $37.00 plus dollars and then for Nov. & Dec. over $60.00 a month. I, closed my business in 2003 and they are still Charging me this fee. I, recently sent the machine back to a address in Knox Ville
Tn. They were able to deduct another monthly fee. I, was told when I closed my
Business that I, owned the machine and that my monthly payments that i, made
Had paid the machine off. Help someone help! They will never be able to collect
Any more fee's from me!

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LUIS kim
SAN DIEGO, US
Mar 04, 2011 5:49 pm EST
Verified customer This comment was posted by a verified customer. Learn more

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.

R
R
Randy WF
TUMWATER, US
Feb 21, 2011 9:26 pm EST

THANK YOU SOOO MUCH FOR THE INFORMATION. SO WE'VE CLOSED OUR ORIGINAL ACCOUNT AND OPENED A NEW ONE. NOW WE ARE GETTING THE THREATENING LETTERS FROM "COMMERCIAL COLLECTION OF AMERICA" STATING THEY ARE GOING TO SUE US FOR $6700.00 ON A CONTRACT THAT WE DIDN'T EVEN REALIZE WE HAD!
WHAT DO YOU KNOW ABOUT THIS COLLECTION COMPANY THAT LADCO IS USING?

Z
Z
Zeta155
Atlanta, US
Jan 26, 2011 7:54 pm EST
Verified customer This comment was posted by a verified customer. Learn more

I would recommend not to bother with a class action suit. The agreement that you signed was written essentially to negate contractual action suits against the company. However, one way to override this hassle would be to close, and re-open a new account. It may seem like a big pain, but without your information they would no longer be able to draft your account. Hope that helps! Best of luck!

C
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ChadCrandall
Gilbert, US
Jan 26, 2011 7:49 pm EST
Verified customer This comment was posted by a verified customer. Learn more

I'm another victim. Does anybody know of a class action suit against these guys?

Z
Z
Zeta155
Atlanta, US
Oct 26, 2010 5:44 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

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.

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Evalon / Ladco Leasing - Leasing terms

After working years for someone else I decided to buy a franchise. Ladco was strongly recommended by my back as their partner in merchant services. The contract was written up the rep reminded me over and over that the lease amount was tax deductable as a business expense. (should have reaised a red flag but what did I know) Well 18 months later the...

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Evalon / Ladco Leasing contacts

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Website

www.elavon.com

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