let's look at it a little differently - as if ibill was one person instead of a corporation. we'll call him bob.

1. bob doesn't have enough money to pay his rent and his bills so

2. he borrows money to pay part of his bills, and to help him get a new warddrobe to look for work but

3. he only borrows 1/10th of what he needs.

now, bob has a job that already isn't sufficient to pay his bills, which is why he is late on all of them. he hasn't borrowed enough money to pay his bills off, but only enough to pay part of them.

he offers his landlord and his phone bill 10% of what he owes them. he owes all other debtors a smaller percent, and tells them he will pay them back within two years. but during that time, he has the same monthly expenses he had that didn't allow him to pay his bills in the first place, and he has the same income he had when things went wrong. yes, he's hoping to get a new job, but that may not happen.

when you look at it this way, can you really believe ibill will make good? bob here couldn't get a loan at the bank, and he would be evicted for non payment right after his utilities and credit cards were turned off.