From the IBill CMI

I think we should have an ongoing thread on what IBill tells their webmasters in the CMI. Today's posting sounds like they are starting to hear all the grumbles among webmasters and affilites, and in light of their recent "mostly silent" updates, the long worded one today indicates to me that 1) they are starting to hear, and 2) they may be getting a little nervous at the defection rate of webmasters....

Here's the latest posting from today, and at least it's more than just changing the date.

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iBill Update:
The purpose of this communication is to provide an overview of iBill’s current status.

In light of the financial situation due to issues with our previous processor, difficulties have been encountered recently in regards to payouts and promissory notes. We understand the uncertainty these difficulties present to our clients. This was not our intention and we want to inform our clients that we ARE moving forward. iBill has been processing for over nine years and we continue to be committed to the industry. All decisions made are to ensure the long-term viability of iBill and allow for clients to be paid on all monies owed.

We understand that we have made commitments which have been unfortunately delayed. We are currently working to secure capital which will assist in bringing payouts back on schedule. In addition, progress is being made in negotiations with our previous processor for the release of funds. These funds will be directly paid out to our clients.

Please bear with us as we work through these issues. Be assured that we will be back on schedule shortly and these issues will be behind us in the near future. Please continue to check CMI for further updates as they become available.
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"blah blah blah...up shits creek without a paddle...blah blah blah"

blah blah balh.. please keep sending us money, if, after we have paid all our staff, we have any left we may give you soem.. blah bal bahl

Quote:

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Originally posted by collegeboyslive
blah blah balh.. please keep sending us money, if, after we have paid all our staff, we have any left we may give you soem.. blah bal bahl

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It seems to be working ;)

Regards,

Lee

From today 1/5/05


Payout Update
iBill continues to make substantial progress and we are close to putting our September 16, 2004 problems behind us.

To this end, iBill has obtained an investment from a New York fund management company. We received the first $2 million installment this week.

It is our sincerest intent to ensure all of our webmasters that are processing with iBill are kept current on funds owed going forward.

For Wednesday, January 5, 2004, the following payouts will be made:
12/08/04 RevShare Payout

12/22/04 RevShare Payout

For Tuesday, January 11, 2004, the following payouts will be made:
12/15/04 US Payout

12/19/04 EU Payout

The 01/01/05 US payout, 01/05/05 EU payout and past due EU reserves will be funded in January. An update on payout dates will be provided on January 11, 2004. Thank you again for your continued support. We look forward to resuming a reliable payout schedule with you and earning your business. We will continue to update you as we move forward.

humm,

what about all thew funds from credit cards they are charging every day? where is that going?

Quote:

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Originally posted by collegeboyslive
humm,

what about all thew funds from credit cards they are charging every day? where is that going?

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that seems to be the big question.

btw, ARS is getting paid every week, on time, since all this began... just fyi :)

those that are getting paid without interruption are the fish that 1. can afford to sue the hell out of ibill
2. those that are the premium clients that ibill is ass kissing to to make sure they dont' go under.

ibill is so not worried about the little guys dropping off.....more will come......

wonder how the reception was at the vegas show for Ibill?

:)

Re: ARS, they probably have their own merchant account so the banks transfer the funds direct to their account.

Has anyone received any iBill EU payments in the last 4 weeks?

ap.

the ibill CMI says the EU payout is supposed to go out on 11th, along with US 12/15 payout..... we'll see

no sign of ibill at the show.

they were wise

probably asked not to show up for fear of a lynching ....

:)

Well it looks like the IBill payments for 12/15 arrived. Now can they keep up with the schedule, catch up from 1/1/05, and all past due payments and reserves?

Let's see.

Quote:

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Originally posted by tombarr
Well it looks like the IBill payments for 12/15 arrived. Now can they keep up with the schedule, catch up from 1/1/05, and all past due payments and reserves?

Let's see.

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well, not theyre behind on EU again... theyre still robbing EU to pay US and vice versa.

it makes no sense... WHERE IS THE MONEY THEY ARE COLLECTING FROM OUR MEMBERS???

they shouldnt need a loan to make payout, at least not the current periods.

Hey D,

iBill have always had a 6-8 week lag to give them a buffer against excessive chargebacks. We just got paid on EU rebills that happened 8 weeks ago so I figure its back to normal.

Has anyone received their promissory note or owed reserve/share exchange offer thingy yet? We haven't.

ap.