Here's how it works. You will receive a telemarketing call telling you that money can be saved with there company re credit card processing," would you like to set an appointment ". Appointment is set and a sales rep meets you at your place of business. An avalanche of deception starts here. The following promices will be verbally stated: " We guarentee a 1.3% rate because we are Visa and thus cut out the middle man." "The contract is fully cancellable." "I (the salesman will personally pick up the equipment if you are not satisfied." The sales person will give you his business card with a local address, however if you research the address or salesrep you will discover multiple addresses all to no avail. In fact, once the rep leaves your office, you will not ever receive a return call.
In my case, I am fortunate due to resources of the people who actually own my business. They have already located the individual and action is forthcomeing. At this point, assuming you, under pressure and having been exposed to deceptive trade practices, signed the paperwork, are in for the ride of your life. You will quickly learn that the processing machine is tied to a lease by which you will be forced to pay 36 to 60 months between $50.00 and a $100.00 per month. For instance, a Verifone processing machine can be purchased for approximately $219.00. Just google "Verifone". However, the refurbished machine that will be sent to you will wind up costing you $3000. to $5000.00. Let's assume at this point you send the equipment back and stop processing, you will quickly begin receiving threatening, bullying type phone calls from Ladco Leasing along with legal demands for full payment of your lease. three to five thousand dollars for a $200.00 machine. They will attack your credit and good name. There is action re two resources forthcomeing.
Stay tuned to this website for updates. I will be meeting with two of the largest class action claims law firms, one is linked to my family. I also am presently in touch with Attorney Generals from three states. one is a client. I also personally met with a high ranking member of the Federal Government recently and he has copies of countless similar stories and actions re these companies. Like I said ,stay tuned.
Vero Beach, Florida