ED Magedson – Founder
Ladco Leasing / Ladco Financing555 Saint Charles Drive Thousand Oaks, California United States of America
Back in 2002 I owned a bar & grill in the Tampa Bay area. When I took over ownership someone representing "Ladco Leasing" came into the bar and wanted to sign me up to save money with a leasing machine. I explained to the genleman that the business was up for sale and that I wasn't intetrested in signing up for anything as I wasn't sure how long I was going to be there. At that point I was told that the cost would be $85.00 each month and that I would be able to cancel at any time and the most the penalty would be was for payment up to three months.
Needless to say, after approximatly 14 months of paying this machine and a cost to me of ($1600) for a machine that if I was to purchase outright would have only cost me approximately $300. With the business now being sold the new owners didnt' want to deal with Ladco as they had their own machine, I certified mailed back to Ladco their equipement which was signed for by an employee. Once this equipement was recieved by them it now offers them to lease to another "sucker".
After Ladco recieved the equipment from me, i received noticed from them that they now wanted me to pay for the equipment in "full" which at the time they were asking for a total of $3,000 as now they were telling me that the contract was "non cancellable". After I've attempted several times via phone calls to Ladco to resolve a settlement at a reasonable cost to me, they failed to even accept any offer. Still requiring their "full" payment.
I have come to find that even after all this time, they have since sold the debt under another Ladco name and show it on their records as not being satisfied. To this date, my credit has been ruined due to such a corrupt company.
Now since tring to apply for any kind of credit (ex: refinance, car...) they are now showing not one but two outstanding loans now totalling over $6,000!
I am so fed up with everytime I turn around this company is such a f**k up they are now screwing with my credit and hurting my family.
It seems by reading all these posts someone needs to help us all out.
If anyone can recommend something, it would be most appreciated.
Who we can write, call anything!!!!!!!!!! I am at the point were getting screwed is enough by this company.
This report was posted on Ripoff Report on 07/04/2010 07:03 AM and is a permanent record located here: http://www.ripoffreport.com/reports/ladco-leasing-ladco-financing/thousand-oaks-california-91360/ladco-leasing-ladco-financing-screwed-me-for-over-7-years-thousand-oaks-california-619994. 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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