In June, my company, a violin shop, was approached by two representatives of LADCO Leasing, and were made to believe that it was urgent that we change credit card processing machines because theirs can process payments automatically and would save us SO much money. They quickly told the owner of our store (who is Chinese, and couldn't understand everything they were saying) that most people just say yes to everything and sign the contract so that would be ok. They finally gave into the harrassing, not to mention the constant phonecalls they got from LADCO for weeks before, and signed the contract.
Since then, the automatic payment feature began to double charge our customers, and we would get angry phone calls from them, and lost a lot of business because our payment processing was so inconsistent. LADCO Leasing pushed a faulty machine on us with the promise of a "lease-to-own" deal, and continued to charge more and more for the machine. One of these machines, purchased on the internet, is worth $180-$300 max. They were "leasing" us a bad machine for over $5,000/year.
Finally, after the loss of customers, and the moral of the business declining, our company wrote a letter to LADCO Leasing saying we were terminating our use of their service and were returning the machine they gave us. Shortly after that, we were served with papers saying we were being sued on grounds of breach of contract. Their entire organization reeks of fraud, and I know this should be winnable in court, but there seem to be thousands of independant businesses that have all been scammed in some way or another by this horrible company.
We are more than willing to jump on a class action lawsuit, and have already made preparations to present a counterclaim and countersuit. If you are approached by anyone from this business, WATCH OUT! They are trying to scam you into a contract that will put you under faster than you can say "Guarantee Agreement".
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