Complaint Review: Ladco Financial Group

I signed Ladco's NC lease in good faith that I was going to get a legitimate business that I could make some extra money.

I was supposed to get a web site from another company, which I never received. The amount of the monthly lease kept going higher with each passing month, until I found that I could not make the payments.

I tried to negotiate with the company to send back the equipment to stop the payments from going up so that I could pay what was owed. They were not interested.

I was told that the NC lease was just that, non-cancelable, and that I was responsible for the full amount. Ladco has now turned me over to a collection agency for the amount of $4,695.68. I am on a fixed income from my military retirement and Social Security, and cannot afford that kind of money.

I am hoping that by getting with a group of others in the same predicament, we can force Ladco to negotiate with us. I will still be willing to return the equipment, but not if I am going to get charged $4,695.68 for a piece of equipment that is not worth $300.00.

Otis
Fitzgerald, Georgia
U.S.A.