Complaint Review: LADCO LEASING

In my haste to start up a franchise income tax business in December,I did not research the cost of the equipment, but relied on the franchisor's recommended vendor for credit card processing.

My original contact was Nova Information Systems/Wachovia Merchant Services (757)591-5838, who sold me the equipment via Ladco Leasing,Inc. The purchase price of the equipment was $1,145.00 for the check imager and the credit card machine. A recent check on the internet revealed the check imager price at $629.00 and the credit card machine at $299.00 for a total $928.00. So I did not get too ripped off, just $215.00 or 23% higher than retail.

Well,the tax business failed and I have called Ladco Leasing to learn what the payoff amount would be. All I can seem to get is a lump sum amount which is greater than the balance due.

In order to preserve my credit history, I feel I have two options.
Pay them the payoff amount and then try to sell
the equipment for whatever I can get for it.


Refuse to pay until I get a detailed breakdown of the
payoff amount.

I will try for option 2 and then proceed with option 1. I feel this is the price I am paying for being in the position of opening without credit card processing available to customers and feeling that I absolutely had to have that service available. I will not repeat this mistake in anything else I do.

Barbara
Chatham, Massachusetts
U.S.A.