Report: #465466

Complaint Review: Ladco Leasing

  • Submitted: Sat, June 27, 2009
  • Updated: Fri, May 28, 2010
  • Reported By: Largo Florida
  • Ladco Leasing
    555 St. Charles Drive Suite 200
    Thousand Oaks, California

Ladco Leasing "leased" me a credit card terminal that they themselves value at $150 for $2895 (non-cancellable lease agreement). THIS IS A SCAM!!! Thousand Oaks California

*General Comment: Keep a Copy of everything you sign and read if all first...

*Consumer Comment: I am a victim to

Show customers why they should trust your business over your competitors...

Last summer my bank (Wachovia) said they would send someone out to me to help me get set up with a credit card machine for my beauty salon. The woman from my bank brought a man with her and presented me with what I belived to be Wachovia credit card processing agreements which I signed.

I later found out that the equipment they were sending me was through Ladco Leasing. They did not leave me with any copies of any lease agreement, and I only found out about Ladco because they deducted money from my account. I requested copies of the lease agreement and they sent me illegible photocopies that appeared to bear my signature.

I do not ever remember signing anything with the name Ladco Leasing on it, only the Wachovia processing papers. I believe that my signature was photocopied onto the Ladco agreement. Now my business has gone under and Ladco has a very rude collection agent saying that I personally guaranteed this shady lease.

I am contacting the Ventura, CA district attorney's office at: /consumer_support/consumer_mediation.htm and the BBB. I am sending letters to Governor Schwartzeneger's office requesting that the State of California stops allowing such scams, and I am reporting to the credit agencies that Ladco Leasing is a SCAM, maybe if enough of us contact Equifax, TransUnion and Experian, we can get them to stop reporting this bogus stuff on people's credit reports. Please join me in writing letters to stop these scam artists from ruining people's lives!!!

Largo, Florida
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This report was posted on Ripoff Report on 06/27/2009 03:23 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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#1 General Comment

Keep a Copy of everything you sign and read if all first...

AUTHOR: devils advocate - (Canada)

I am not sure how much the actual representatives say before people are signing, but I do know that I personally just read a post on Craigslist to become a rep for this company. I then emailed to learn more. I recieved an information package which included the contract that all customers would sign. I also as a rep would have had to sign an agreement but it was with a different company then Ladco. The agreement just says I am an independent contractor working with .... Company. That I understand it is a commission based possition and who all contracts and leases should be forwarded too. I always do research before signing anything and this is how I found everyones posts about complaints to do with the company. I have yet to find one complaint about the company from a representative perspective but that is not to say they are not their.

 Anyways I have in front of me the contract that all of you would have signed and I will admit I have yet to read it cover to cover but that is because I got caught up with reading everyones complaints and looking for the companies right to do as they did to each of you in the contract. The fact is so far most of those that have made complaints are complaining because they never read before they signed. At the end of the day keep a copy of the document you sign and make sure it is the same copy. I also recommend looking into any company before you sign on. If a representative can not wait until after you have had a chance to do research then what is the hurry.

Just because you complain about a company does not always mean it was a scam. I will admit there are a few stories here that sound like they might have an actual lawsuit, but at the end of the day a BBB rating is something that anyone can lower just because they are unhappy about committing after they committed and have to pay the price.

I hope everyone learned to read before signing and keep a copy of the contract.

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#2 Consumer Comment

I am a victim to

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

Ladco rep Knut Werpen representing Ladco and WMP tried to pull the same scam with me. As we began the paperwork re stated "month to month" contract page one and two looked pretty standard. We began to fill out page three and when I noticed non cancellable lease, I stopped. My time was up so I advised the Ladco rep to come back after two o'clock to review terms and conditions and either proceed or not. Later that day, the carbon copy of the contract was taped to the front door of my business and someone other than me signed a portion of the contract and completed initialling the terms and conditions. Ladco has an "F" rating with the BBB and you are correct to follow the paths you stated re complaints, I am doing that to plus I have filed with the local Police with a case number. Steve at (((ROR REDACTED))).

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