Tuesday, March 20, 2012

Some of the Backstory

I started investigating complaints about Elavon and its subsidiary, Ladco Leasing, in 2010; I had a merchant account with Elavon involving a "software lease" from Ladco Leasing. I fought my way through and finally got out of that "irrevocable" lease with Ladco. I posted on ComplaintsBoard.com, where I found countless complaints about Ladco Leasing. I got an e-mail from another Ladco victim who wanted to know how I managed to get out of my contract. We started an e-mail support group. We got many, many more emails and phone calls from other small business owners who were also victims of Ladco. Each new member of the group shared their story, along with their efforts to fight. These small businesses are located all over the United States, in different industries. The circumstances of each case were different, but had two details in common: (1) they are all SMALL businesses; and (2) they all had so-called "non-cancellable" contracts for leasing credit card processing equipment from Ladco or Northern Leasing. Apparently the name of the company gets changed every so often in order to protect the guilty. Information sharing eventually led to the investigation by the District Attorney of Ventura County, California. It has finally drawn the attention of the news media:
Christine Haas News Anchor/Reporter T: 619-578-0270 Email: Christine.Haas@nbcuni.com On Twitter: @christinenbcsd W: www.nbcsandiego.com