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Originally Posted by Shoplifter
This endless babble about this is making those with legitimate concerns look bad. I am sure Mr. Galanis et all are sitting atop their solid gold toilets reading this and laughing. Some of the officers at Ibill may take heat, but those above them never will.
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Usually companies declare bankruptcy when they can't make the payments on their debts. But all Ibill has to do is use the webmaster payment money to make loan payments which should more than cover it. But with some loans, they become payable at a certain date in which if not paid in full, the bank forces the company into bankruptcy to collect.
Corporate owners do not like to go into bankruptcy because what that means is they loose both control and ownership of the company which is transferred to the debt holders.