Lease term was really long, nobody explain me the lease terms, just made me sign for 48 months and paid too much money compare with my actual bank where I purchased the machine for $200 vs Ladco monthly payment $34 for 48 months. Make sure to read every single page of the contract and do not waste the money. I definitely do not recommend this company for small business.

need address to send equipment back to ladco

hi there I was trying to cancel my acct with elevon who go through digitech precessors im within my 90 days to cancel digitech now phoned me jan. 8th and are being very nasty with me. strongarming me all I want to know where do I send my ladco equipment to, when I spoke to digitech they would not give me an address where to send it to and a matter of fact they hung up on me I surly hope you will look at this and help me please send me an address where I can return this equipment to. jane at [email protected]

I would like to lodge a complaint regarding unlawful business practices of ladco leasing. I was hard sold on switching from moneris to paylogec/ladco and deceived about what i was getting into. signatures on documents were forged, service was spotty and unexplained fees were charged to my account. It is all over the internet what thievery this company practices.They literally charge thousands and thousands of dollars to small business owners for leased equipment that is worth hundreds, if it works at all.

Lori, thanks for providing this wonderful info on the history of Ladco. The D.A.'s office of Ventura County, California, has been investigating the case, and the media is finally starting to pick up on it. There is more info on my blog at
http://merchant-scamology.blogspot.com/
Thanks, Deborah

FYI: Ladco Leasing's parent company is Elavon. Elavon works at maintaining a squeaky-clean image, while Ladco does all the scamming in the background.

After working years for someone else I decided to buy a franchise.

Ladco was strongly recommended by my back as their partner in merchant services. The contract was written up the rep reminded me over and over that the lease amount was tax deductable as a business expense. (should have reaised a red flag but what did I know)
Well 18 months later the business failed and when I turned the franchise over to the new owner I offered to turn over the lease for the credit card machine and it's 52.00 a month payment. I was told I was crazy and she shows me her payment of the same equipment for 8.00 a month. I looked up the retail price of the equipment NEW and it comes to $600.00. Ledco ecpects me to pay 2500.00, 400% interest on the equipment and a 200.00 buy out at the end.
They over inflated the price of the equipment to start out, they push the fact that this high price is now deductable on your taxes.

Lee Ladd Chairman founded LADCO Financial Group in 1979 and after ventures in mortgage
brokering and commercial equipment financing, entered the small-ticket leasing field in 1984. LADCO
specialized in financing point-of-sale equipment and grew to service over 120, 000 lease and rental
contracts. LADCO pioneered small ticket financing as one of the first to utilize ACH for billing and as
one of the first to participate in the placement of over $193MM in lease-backed securitizations with rated
bonds issued to investors.

In 1997, LADCO Financial Group was acquired by PMT Services. In 1998, PMT Services merged
with NOVA Corporation, the result was a new parent company, NOVA Information Systems. In 2001,
NOVA Information Systems, Inc. was acquired by US Bancorp. LADCO operated as a wholly owned
subsidiary of NOVA and US Bancorp. Lee Ladd departed the organization in 2006.

In 2006, LEECO Financial Services was incorporated with the securing of a $120MM credit facility.

LEECO provides a fully compliant and comprehensive servicing of portfolio. This includes all federal,
state and local tax collections, remittance and audit responsibilities; property tax reporting, allocation,
collection, remittance and audit responsibilities; and all monthly and ancillary costs associated with
monthly billing, collections and portfolio management. www.leecofinancial.com

Where is he now?

Lee Ladd
Owner, mile edge plus
Greater Los Angeles Area | Automotive
Current: Owner at mile edge plus
Past: President and CEO at LADCO Leasing, regional v.p. at Fireside Thrift