Graywolf,
I am so sorry that you had to go through this experience. I thought that the Versa was a decent low priced bike.
But to be honest, the only budget priced bikes I would really recommend to anybody is either a Citizenbike or a Greenzone. By the way, I purchased one (Greenzone Value Edition) several weeks ago, and I am very happy with it. Otherwise, a used Dahon, a Downtube or something like that could have been another possibility if you are on a tight budget.
I hope things work out for you, and I think you should return the bike for a refund.
Ed