LADCO LEASING VIOLATED, BULLIED, and FED UP! Thousand Oaks California
In August of 2005 I decided to start an internet business, during this process I was referred to Ladco Leasing. Two weeks after entering the lease agreement for credit card equipment my home and all I owned was destroyed by hurricanes Katrina and Rita.
I never used the credit card equipment. I lost everything, but that did not stop the collection attempts from Ladco. After stopping their automatic drafts out of my account, I began playing them each month $116.95 for a service I never used and for equipment that was destroyed.
I forwarded the company all the necessary paperwork proving my losses during the hurricanes, and they only deducted $500.00 from my remaining balance. As a result, I refused to pay them another cent, so they withdrew the money without my consent from my checking account leaving me overdrawn several hundred dollars.
Something has to be done to stop Ladco from doing this to honest hard-working people. Isn't it enough that I lost my home and all I owned, do I have to loss my protection as an American citizen also?
I have been violated and bullied by Ladco and now I'm fed up! I'll support any class action suit against USA Card Services and or Ladco Leasing. These people need to be stopped.
Creolelady
New Orleans, Louisiana
U.S.A.
2 Updates & Rebuttals
Anonymous
Urbandale,Iowa,
U.S.A.
Insurance
#3Consumer Comment
Fri, August 22, 2008
I assume you didn't turn this into your insurance company. Why? They specifically state in their contract that you have to have insurance before ever letting you lease their machines and service. If you had turned it into your insurance, they would have paid your remaining balance. This can only mean you either lied about your insruance and didn't have any or you didn't report this.
Online under their FAQ's section:
"Does the equipment I lease require insurance?
Yes, you are required to provide proof of insurance to protect the leased equipment against loss or damage. If you do not provide the required insurance, your account may be subject to additional monthly fees. To provide your proof of insurance see the Insurance Information Form."
This is what the required insurance form states.
"Insurance is a requirement of your lease. Please provide the information below so Ladco Leasing may be named as Loss Payee and Additional Insured on your insurance policy."
You dropped the ball on this one.
Inspector
Tobyhanna,Pennsylvania,
U.S.A.
Wake up!!!!
#3Consumer Comment
Fri, August 22, 2008
What makes you think the company that leased you the equipment has to pay for the damage to it? If you lease a car, you must insure it so that the seller of the car can get their money back.
I feel for your loss but, wake up dude and pay the man. And be thankful they gave you a $500 deduction.
Charles