I was approached by a representative when I first opened my bar. Once I saw it contained a personal guarantee and a non-cancellable lease, I told the representative I wouldn't sign it. I few days later, she called back and said she had found a way to get me a credit card machine and service set up without having to go through the non-cancellable lease and personal guarantee. Within a week or so, I had the equipment and was set up.
I paid every month for about a year and a half until I finally got smart & realized I could buy one of my own and use my own bank's services for a lot less. I returned the equipment and cancelled the service. LADCO never provided any credit to me for the return of the equipment and continued to bill me monthly. It was at that time I learned that they were saying I had a 48 month lease.
I asked LADCO and the collection agencies they sent the account to several times for proof of any lease. I also filed complaints with the credit bureau, Federal Trade Commission, and state Attorney General's offices... Nothing happened.
Eventually, one of the collection agencies sent me a copy of the lease and personal guarantee. It was then that I noticed that my signature had been forged. It wasn't even close. When I pointed this out to the collections agency, they agreed to me & returned the file to LADCO, but LADCO refuses to drop it and still harrasses me contantly for this.
Do yourself a favor and stay away from these guys. If you've already been victimized, I encourage you to report them to everybody you can think of! My complaints have gone ignored.
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