Complaint Review: Ladco Leasing

In September of 2007 my wife and I opened a photo studio. I was contacted by EPS (Electronic Payment Systems) to handle my credit card processing. I owned my own equipment. I was told that my equipment would not work on their system. They said they could hook me up for very little cost for the new equipment I needed. I was hesitant, but was assured that I could cancel anytime with no problems or hassle. They installed the machine the day before I opened. I was told to sign for the machine. I did and they left. I then read through what I signed, thinking it was just saying that I did indeed get the equipment. After reading I found that the paper I signed was much more than signing for the machine. I immediately called both EPS, AND Ladco. EPS told me that the salesman that handled the transaction was no longer employed and what ever he told me was not valid. I told them to come get this machine. Keep in mind that the machine was in less than 15 minutes. I was dumbfounded. This company is the biggest ripoff I have ever encountered. The document I signed was for a 24 month lease. This comes to $3360.00 for a piece of equipment that sells for $120.00. If you have been taken by this company PLEASE contact both the BBB and the government. Let's put this company out of business once and for all, before they ruin more people.

Hank356
Mesa, Arizona
U.S.A.