• Report: #452084

Complaint Review: Ladco Leasing, Wholesale Merchant Processing

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  • Submitted: Fri, May 15, 2009
  • Updated: Wed, May 20, 2009

  • Reported By:Vero Beach Florida
Ladco Leasing, Wholesale Merchant Processing
555 St. Charles Drive Thousand Oaks, California U.S.A.

Ladco Leasing, Wholesale Merchant Processing, Knut Werpen Buyer Beware, Urgent Thousand Oaks California

*Consumer Comment: You are not alone!!! What can I do to help?

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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.

Ladcowmpvictim
Vero Beach, Florida
U.S.A.

This report was posted on Ripoff Report on 05/15/2009 01:30 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ladco-Leasing-Wholesale-Merchant-Processing/Thousand-Oaks-California-91360/Ladco-Leasing-Wholesale-Merchant-Processing-Knut-Werpen-Buyer-Beware-Urgent-Thousand-Oa-452084. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

You are not alone!!! What can I do to help?

AUTHOR: Sprockets - (U.S.A.)

Feel free to check out my reports and updates, they may be helpful in the case against Wholesale/LFG/Ladco. Just search Knut Werpen and my report comes up right after yours. The title of my report is "I own a bicycle shop and got taken for a ride" Please call me at 772-336-3399 ask for Louie. I am curious about when this happen to you. Because if you read my recent updates...WMP assures me that Knut has been reprimanded and that they are doing what they can to rectify the situation...NOT! I will be glad to do whatever I can to help. These guys are going down!
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