• Report: #913071

Complaint Review: Ladco Leasing

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  • Submitted: Mon, July 16, 2012
  • Updated: Mon, July 16, 2012

  • Reported By: Macy — Benton Arkansas United States of America
Ladco Leasing
7300 Chapman Highway Knoxville, Tennessee United States of America

Ladco Leasing Elavon Merchant Services Recent News Release District Attorney, County of Ventura, Calif files court action against Ladco Knoxville, Tennessee

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just posted under Elavon Merchant Services Review & Complaints this info:
The District Attorney's office of Ventura County California, recently announced the court's ruling in their civil law enforcement action against Ladco Leasing and Elavon.  Here is the website to the press release.   http://da.countyofventura.org/12-030.htm    
My story is almost the same as written by Anthony Q - Pawling..extremely small business trying to set up CC procesing, bank sent rep whom I assumed worked for bank, had me initial an authorization to begin service as to the type of equipment, never mentioned non cancellable lease or any fees. The letter from Ladco Lease letter I received after the fact said that all the terms and conditions of the lease are contained in the Terms of Service, located on their website. (51 pages).

After six months of automatic withdrawals from my bank account for all kinds of fees taking 81.5% of what I had taken on CC's, I closed my bank account and returned the equipment after trying to resolve the 48 month non-cancelable lease. The previously friendly sales rep, became very unfriendly and stated that "if you try to dodge this fee, it will be turned over to collections and we will ruin your credit".  And that is where exactly that I am now...the C.D.R.S. Inc in Santa Clarita, Ca has sent letter stating I now owe $2,355.64.
So reading this news release from the District Attorney, County of Ventura, California which states that Ladco and Elavon must pay $418,601 in civil penalties, restitution and cost recovery to the Ventura County DA office is very comforting. If you have not read this, please do so.

This report was posted on Ripoff Report on 07/16/2012 09:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ladco-Leasing/Knoxville-Tennessee-37920/Ladco-Leasing-Elavon-Merchant-Services-Recent-News-Release-District-Attorney-County-of-Ve-913071. 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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