After several years as a customer of Ladco and their associate, Merchant Services, I found, as a craftsperson, most of my business was cash or check and I no longer needed the services of a credit card processor. I wrote to both Ladco and Merchant Services, giving them 30 days notice to stop electronic withdrawls from my bank account. Ladco leases the card equipment and M.S. Does the banking piece. I also notified my bank, who, as if in cohoots with these people, told me there was nothing they could do to stop Ladco from entering my account electronically. I withdrew all the money and send Ladco a Bank Check each month to fulfill the contract.
Three months later, Ladco is still trying to enter the account, ignoring more letters and a Stop Order. For this, the bank is charging me an overdraft and Ladco charges a return fee penalty plus late fees and so called "administrative" fees. They appear to intentionally rack these fees up by trying to break into the account numerous times a month, rather than the normal one time per month. A call to Ladco denies ever having recieved my letters, even though one was sent Certified/Return Reciept, which they signed for. Then in the course of the telephone conversation, the person slipped and said that I had the wrong date on one of the letters.
Then the late night phone calls started; "I must allow them into my account or suffer the consequences." Now they send me threatening letters saying they will "ruin my credit" or even take me to court.
I'm sorry, but I approached this whole thing in a proper and dignified manner, and was a good customer for many years. These are the kind of people who give business a very bad name.
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