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Originally Posted by angelsofporn
I know of a couple larger companies that will remain nameless that got ibill to give up all thier rebillers and tranfer them to anothere processor recently when they threatened with their lawyers etc...seems to be the way
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I have canceled most of my rebills by now so wouldn't be worth much to me to transfer the rest of them. Though i would gladly accept the transfer and not release the tape of their conference call to the media which would certainly give them a lot of legal liability.
I can accept a business going bad and having to close its doors. What i can't accept is sitting back and letting this fraud happen where they continue to process signups/rebills and don't pay our anything to their clients. If things go bad for 3rd party billing company, they should work to transfer the rebills and pay out everything they possible can. In this case, it seems the whole purpose of buying Ibill was to steal money from the clients of Ibill. I mean a company that does $330 million/yr to almost nothing a year later is crazy.
The guys that founded Ibill already cashed out some time ago when they sold to intercept and intercept sold to Ipay/Penthouse. It's not the original people of Ibill that created this mess, its all Penthouse's doing.