Report: #845297

Complaint Review: Ladco Leasing

  • Submitted: Mon, February 27, 2012
  • Updated: Mon, February 27, 2012
  • Reported By: Don-San Antonio, TX — San Antonio Texas United States of America
  • Ladco Leasing
    7300 Chapman Hywy
    Knoxville, Tennessee
    United States of America

Ladco Leasing Azura Leasing Deceptively gave me a 60 month contract, $4200 for a $329 machine. Knoxville, Tennessee

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In February of 2011 I decided to try and lower my credit card processing costs. My weekly phone solicitation was timely and I accepted Entrust Bank's request for a salesman's visit. After he analyzed my usage reports he said he could lower my overall fee percentages. I stressed that this estimate must include all monthly and annual fees, and include free equipment.
He said that it would, and showed me on his laptop that it was indeed about a quarter % lower.
The 10 page contract was printed with my initialing every page and signing a couple. I did not have  time to read 10 pages and took him at his word. 

 I have been in business for 18 years, am 75 years old, will retire after my lease is up in Feb 2013, so I would not knowingly sign a 5 year lease. I'm not stupid, I just did a stupid thing by believing this salesman. Then he called a verification person to prove that I actually agreed to this. Before handing me the phone, he said "just say yes to all the questions". 
After 3 months I woke up and realized I was paying more than before. I cancelled the processing service, returned the $69 per month($4200) machine, and signed up with someone else who lowered my rate and sold me the same machine for $329.  Now, I'm being sued for the total amount.
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This report was posted on Ripoff Report on 02/27/2012 10:50 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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