Quote:
Originally posted by jayeff
Whether the payments could be made or not, this is the second time in the past couple of years that iBill have screwed up and passed the full impact of its own problems straight along to its clients.
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You are referring to the much discussed web900 right? In all fairness to iBill you should be aware that iBill did not pass the full impact of that problem to the clients. iBill was paying out web900 before they actually received monies from Worldcom. When Worldcom went belly up, iBill had in fact already paid out a huge sum of money. The missing payments were the next payments in line. Of the amount that was owed by Worldcom to iBill, roughly half of that amount was paid to the clients by iBill. The total loss on that fiasco was closer to a 50/50 split with the clients eating half and iBill eating the other half.
Mike33, I too also believe iBill will pay. I just take exception to someone coming on here telling people that they should be happy with the situation as it currently stands.