I was contacted by phone as a new business owner and was sold a credit card processing machine lease. I found out shortly into the venture that it was not affordable for my very small business and I could get a local company to do the same thing for less than half the price. I contacted LADCO and tried to get out of my lease but was told that it was "non-cancelable" but I could buy the equipment from them at an outrageous price or simply continue to pay for equipment I was no longer using. I returned the equipment to them and put a stop-payment order on my bank account to put a halt on the automatic payments, which cost me a hefty fee at the bank.
Somehow they got around that to take funds out of my account at an even higher payment than I was paying before! I've written letters and talked to customer service people at this company to no avail. They've now sent my account to a collection agency who is threatening to sue me. I don't know what I can do to stop this legal nightmare. If anyone has any suggestions I sure would be open to them.
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