Ladco Leasing - LADCO and ELAVON thieves

69 of 72 Ladco Leasing reviews

LADCO leasing( and their partner in crime ELAVON Merchant services( are legal thieves.

My company was hooked in by ELAVON's promise of 24 hour account setup.

The LADCO lease page was viewed and questioned as to why is there a lease contract when we will not be getting any equipment as we are a phone and fax order company. We were told ELAVON that the lease page is just a formality as there will be no equipment. The LADCO page is just for the online merchant service license (like quickbooks online). That we understood. One week later this turned out to be FALSE! A big LIE! A package arrives with POS equipement. We contacted ELAVON and they said "YOU SIGNED THE PAPER". They told us to contact LADCO! LADCO says they only provide funds and have already paid ELAVON. LADCO says ELAVON provides the hardware. ELAVON says LADCO provides the hardware. They send you back and forth so you would give up. Well the POS products are still in their sealed packets. The Shipping box contained a letter stating, "at the end of the lease to make arrangements to return the product to LADCO leasing". If LADCO is just the "leasing" agency that fronts the money to purchase the equipment, then WHY is the equipment going back to them.

After further calls to LADCO it turns out the equipment is from them. In fact, what they ship may or may not be new. Their "Software package" is a windows application to utilize the magnetic strip card reader. Total package price $300.

We tried to return the package to LADCO 3 days after receiving it.

LADCO( wanted the FULL LEASE PAYMENT first before they would provide an RMA. Why would I pay for equipment I did not order, do not need and did not ask for. It is a SCAM of a company!!

I am fully ready for any class action participation.

This review is a subjective opinion of a user.
Report Comment Private message author

More Review Details

Product or service
Review category
review #171794 by
Had an experience with Ladco Leasing? Submit review ›
Helpful? 38 Yes 38 1 No 1
Had the same issue 0 Yes 0
69 of 72 Ladco Leasing reviews
Comment as anonymous As anonymous or Log in
OR Is it your business? Respond to your
customers as verified company representative.
Apply for a Free Plan

Feb 24 #1117362

Post information on the internet. Try to find people who are victims like you. Complain to Ventura Court in C.A. we did it before. LADCO end up was fine almost 0.5 mil. It's stressful, but you can do that.

0 0 Reply

Feb 24 #1117316

can any one tell me the CEO name and a RMA for Ladco. I am having issues with them as well.

0 0 Reply

Nov 16, 2015 #1064754

Complain to Ventura court. Couple years ago, Ladco had a class action lawsuit. They were fine over 450,000 . If you had enough people to complain, the Ventura court will consider. I went online and contact the victims like me. Our voices had heard. Ladco lost the case. Good luck to you

0 0 Reply

Dec 16, 2014 #916810

I am currently fighting with them as well. their rep. changed out my equipment for one that fit my phone lines. That equipment got taken by him and returned. They kept 2 accounts open and basically stole from me for almost a year. Double fees, double renting etc. when I went to the AG office to ask what I could do, they expressed interest in helping. Just threatening with the AG office helped some but not the return of the equipment, which I unplugged and don't use. I am currently still trying to get them to cancel the lease and issue an RMA. They are very rude on the phone and I will go back to the AG office for more help.
I will prevail. Thanks for the other comments, it bolsters me to know others out there are being used.

0 0 Reply

Jul 01, 2012 #505149

PLEASE DO NOT MAKE THE SAME MISTAKE AS I DID.We made the foolish mistake of signing up with LADCO/ELAVON

0 0 Reply

May 19, 2013 #653291 Winnipeg, Manitoba, Canada

Are you interested in pursuing legal action against them? I am trying to organize a group put an end to these crooks. Maybe together we can shut them down and get out of our fraudulent contracts. I too signed up for a 48 month lease and have been charged extra, told we could cancel, but are now faced with a penalty to cancel. We closed our bank account to stop any more further withdrawals.

0 0 Reply
Bill Jarrett

May 16, 2012 #481174

I wouldn't do business with these thieves ever again. Ladco blames Elavon and Elavon blames Ladco... they are partners in crime and thives is the exact word for them. I quit them three months ago and they're still stealing money from my bank account.

Bill Jarrett
Vandalia Tactical & Thunderbowl Lanes

1 0 Reply

May 19, 2013 #653295 Winnipeg, Manitoba, Canada

These people are not out to help, they are only interested in stealing your money. Do you want to get involved in legal action against them? It has been done before and hopefully we can do it again. Let's not let them get away with this criminal activity. I am trying to get in contact with Christine Mitchell who has won a class action lawsuit against them in 2009. Maybe she can help us out!

Tim Salo

Christine Mitchell
Senior Paralegal
Ventura County District Attorney
Special Prosecutions Division
5720 Ralston Street, #300
Ventura, CA 93003

1 0 Reply

Nov 16, 2015 #1064543

Yes stole from me my email discusting day light robbery

0 0 Reply
Pjs' General Store

Apr 23, 2012 #470300

Just a heads up to anyone else considering using this company. We just had $25.98 taken from our bank account for an "annual administrative fee" by LADCO no billing, no prior warning, unless it is buried in their contract somwhere. Small potatoes, I know however if this is how they choose to do business they have lost another customer. READ YOUR CONTRACT or take it to an attorney.I for one refuse to associate with scondrels like this.Gratefully we only have 10 months left on this contract.

2 0 Reply
Angry Merchant!

Mar 02, 2012 #441424

We made the foolish mistake of signing up with LADCO/ELAVON. They claim that after 4 miserable years of paying them $42.22/mo. for equipment that is outdated and stored in a box in our back room that they will let us out of the lease on May 1. That remains to be seen because I am seeing online horror stories of how they continue to steal money out of the merchant's account even though the lease is up. If that happens I am going to find an attorney to start a class action suit against them. I think there will be lots o joiners!! They are robbers and thieves and apparently the government just looks the other way!

1 0 Reply
Lori B

Feb 28, 2012 #439322

Hands down, Elevon and Ladco are 2 of the most unethical and thieving companies I've ever had the displeasure of dealing with.

Let us not forget that they are owned by USBank - so kind and gratuitous up front. Don't, for one second, be fooled. When it comes to taking your money, they'll stop at nothing for excuses.

If you love dysfunction, having a bank's hands in your back pocket basically taking anything they wish, and telling you, "We operate like this because we CAN," then these companies are for you.

I've signed nothing but made a trusting verbal agreement with a USBank representative (hands down my biggest mistake). Ladco's equipment has been sitting in my office in it's original packaging waiting to be picked up for over a month.

Meanwhile I've been victimized with withdrawals from my bank account, statements with inflated fictitious fees and no one can seem to "get it fixed" despite 6+ promises that it will be rectified.

I've had better treatment at K-Mart.

I'm a very new small business owner. My fiercest threat has been from the very bank that proudly declares their support of small business in the US.

Doing research on Ladco or Elevon? Don't walk - RUN! to another financial institution other than USBank that stands behind it's commitments.

0 0 Reply

Nov 23, 2011 #379347

Please anyone that has a business, please do not go with elavon or ladco, they are real scammers, i never signed anything and they said i did, they ask me to provide items from notary and so on, just to cancel it , or else they give me a discount to cancel and cost me 1000.83$ or else it will go to account receivable, wow these are real scammers, but i said i will not pay, then they just say well dont need to continue this convo then, so even though u didnt sign the contract, its automatically signed once your with them so good luck, please dont be in my situation

0 0 Reply
mr mole

Sep 19, 2011 #346499

FYI US Bank owns LADCO. Northern Leasing and Global Tech merged with LADCO.
If you talk to any representative at LADCO, you are speaking to people paid by US Bank.
LADCO doesn't hire sales reps. The merchants are approached by sales reps from companies selling equipment or software. They get paid in full when they get the equip. or software sold and delivered to the merchant. If a payment is made to LADCO either by check or automatic payment (from merchants bank acct) the 48 month non-cancellable, personally guaranteed agreement is considered ratified, and is permanently part of the guarantors credit history. Just sayn' Good luck tryin to get out of what you signed.

1 0 Reply

Jun 26, 2011 #304815

The Ventura County District Attorney's Office is conducting an investigation into the business practices of Ladco Leasing, Inc. ("Ladco"), of Thousand Oaks, California. The investigation could result in a civil prosecution by our office in which we would seek injunctive relief, penalties and restitution to victims of any unlawful or unfair practices committed by Ladco. Ladco was involved in the business of leasing equipment credit-card swiping terminals to small businesses. If you or your business was a party to a lease with Ladco, we request that you please complete the attached questionnaire and return it to us as soon as possible. If you have any questions, you may call Christine Mitchell of the Ventura County District Attorney's Office at 805/662-1731. Thank you for your assistance in this matter.

Christine Mitchell
Senior Paralegal
Ventura County District Attorney
Special Prosecutions Division
5720 Ralston Street, #300
Ventura, CA 93003

1 0 Reply

May 19, 2013 #653289 Winnipeg, Manitoba, Canada

hi christine
It seems like Ladco,Inkas and Elavon are still up to their immoral business practices. I am looking into organizing a group of people and possibly a website to help the growing number of people with complaints. Any help with this would be greatly appreciated. It seems like Ladco/Inkas have different locations in North America. Is this to confuse the issue?

1 0 Reply

Jun 02, 2011 #293541

please stay away these two company ties you in contract then if you refuse to pay they will make sure you have bad credit.

0 0 Reply
Robert Schalte

Dec 07, 2010 #219784

Over the course of several years, Elavon raised my rates because I wasn't paying attention, to close to 5%! I was running about $1M/yr and was outraged. I switched my service to US Bank because my banker told me US Bank owns Elavon and because I'm her client, nothing like that would happen. Within fifteen months, they had my rates up to about 4%.

It's strange. They get a company's business and can largely sit back and watch the money come in. I don't understand why the industry has to be so crooked.

I just switched to IM Global Solutions. The fellow who is my representative seems genuine and honest, and the rates are low. I searched the internet thoroughly and couldn't find anything negative about them. We'll see how it goes.

Because I just this morning cancelled my acct with US Bank/Elavon (and was charged a $195 cancellation fee - unbelievable how low they will stoop), I wanted to tell my experience online. That's why I've posted here. Chances are I won't have any reason to come back to these boards again, at least not for a while. But I’m interested in any feedback to my post. If you have any, please email me directly, Thank you.

1 0 Reply

Sep 29, 2010 #195422

DO NOT SIGN THE PERSONAL GUARANTY SECTION FOR LADCO LEASING OR ELEVON!!! This is not only a dangerous agreement you are entering into; it is an outright rip-off. I have been doing business with US Bank for 40 years now, but no more; ever. When we decided to take our business online we had USNB set us up with a merchant account and they immediately forwarded us to Elevon for the Virtual Merchant order processing. Elevon then has Ladco Leasing lease the equipment which is nothing more than an encrypted card swiper that works only with their system. Because the package was so clunky and time consuming we purchased a card swiper from Intuit for less than $50.00 and used the Intuit point-of-sale system for all in house sales which proved to be FAR more efficient and effective. In addition to this, we now owned our card swiper; no lease, no further payments to Intuit for the hardware. We continued to use the Elevon Virtual Merchant service on-line because we were locked in a four year lease agreement and set the Ladco POS hardware aside as junk.
How did this happen? While moving into new facilities, remodeling and a myriad of other such tasks Mr. Dumb A$$ here was not paying attention and signed each X as requested by Ladco on the faxed lease agreement form, including the Personal Guaranty option which was conveniently located just below the corporate signatures and marked as a required signature. Over the phone they will mention the 4-year term but will say nothing of the
... Show more

1 0 Reply
Former Employee

Jun 21, 2010 #156056

When you are speaking to a Ladco representative, you are actually speaking to an Elavon employee.

0 0 Reply

1-20 of 25 comments

Great comment! Would you like to convert it into review?

You will be able to edit the text before publishing.

You May Also Like

× You are about to contact

Review submitted through "Contact Us" will not get published on the site or forwarded to Ladco Leasing. However, many companies do monitor reviews on our site.

You were reading a complaint about Ladco Leasing.
Filing a new complaint about