Ladco - Ladco Leasing ripoff ultimatives lack of pre-information you must sign before getting help Thousand Oaks California
Almost everyone in America uses some sort of card to pay for merchandise. Having merchant service is a must when opening up a business and trying to make a go of it.
Being a floral shop, a lot of our business is over the phone so I was in a hurry to find merchant service. I checked with my bank and they were not sure if I could get merchant service since my past credit was not all that great, but they would check into it for me.
It seemed to be taking a while and in the mean time I heard that Costco had this service and it was cheaper then going through the bank. So I filled the forms costco gave me and sent them in. Ladco called me and said they could not process my account with out doing a credit check and I needed to sign the contract so they could do the credit check. I told her I didn't want to sign until I found out if I could get it or not. She told me that it was just giving them permission to do the credit check and that someone would call and let me know of the results.
Well that never happened. All of a sudden I received this machine from Ladco. I called them and told them that I had decided (my American right)to go with my bank and if they had called me before they processed it they would have known not to send it.
Ladco continues to charge my account $23.99 a month even though they sent a call tag for the machine and I no longer have the machine.
They sent me a "Merchant Request to close processing account" and had me fax it back but it has not gotten me anywhere. This has been going on since Nov. 2003.
Under search I typed in "Ladco Leasing" I see that there are many many people that have been scamed by this company. Something has to be done. It is a company that is taking advantage of the American small business.
There isn't that much info on merchant service and what is the best route to go with it.
There is a story behind the Ladco company. Someone who knows how to investigate these kind of companies will have a story to tell about this one
Terri
Redmond, Oregon
U.S.A.
1 Updates & Rebuttals
Timothy
Palmer,Alaska,
U.S.A.
I too was ripped off by Ladco Leasing & LandMark Merchant Solutions
#2Consumer Suggestion
Thu, May 27, 2004
Like many of the others I just read here, I too was ripped off by Ladco Leasing & LandMark Merchant Solutions. Ladco refused to do anything about thier affiliate not providing the website which basically reulted in the POS equipment being un-useable by me. After advice from my attorney, I stopped all payments to them as well as had my bank retract the last payment from August 2003.
Seems now they (April 2004) have filed a charge off against my credit report, which has resulted in my losing valuable business credit, possibly losing my bonding as well. Haven't heard from the bonding company.
I have just began hiring an attorney whom I am going to have file a suit for $100.00 on each dollar of charge off filed against me. Which only comes to 235k, I've already lost well over 250k in financing due to this.