Ibill update (for those with no CMI access) - GoFuckYourself.com

DeadFidel · 12-01-2004, 03:10 PM

OK, so it show up on stats, but not in my account. and more important, read the part about past due funds.

Dear iBill US Client,
As announced on the iBill client conference call on Wednesday, November 3rd, iBill will resume scheduled US payouts starting with November 1st transactions. November 1st through November 15th transactions will be paid out on December 1st.

All US clients will resume their normal payout schedule:
1st of Month: 1 - 15th transactions from the previous month

15th of Month: 16th - end of month transactions from the previous month

Monthly clients will be paid on the 15th of the month for previous month transactions

RevShare clients will resume their normal payout schedule:
8th of the Month: 1st - 15th transactions from the previous month

22nd of the Month: 16th - end of the month transactions

Catalog Complete clients will resume their normal payout schedule:
26th of the Month: 1st ? end of the month transactions from the previous month

Past due client transactions and reserves will be repaid with 6% interest over an extended period. However, repayments of outstanding client reserves will be subject to the release of funds currently being held by our former processor, and such repayments may be made directly to clients by our former processor. We are working with our former processor with the intention of expediting payout of outstanding client reserves.

Clients will also have the option to convert their entire past due amounts or a portion of the past due amounts into equity at a 50% discount.

RevShare amounts due as of October 31st will be paid in four equal payments. Additional information regarding the RevShare past due payout program will follow in a later communication.

By Monday, December 6th, you will be able to log into the Merchant Info area at http://www.ibill.com/merchantinfo/login/login.cfm to review past due amounts, a brief summary of the plans and select the option that you would like to move forward with. You will receive confirmation of your plan selection immediately and depending on the option chosen, the promissory note will follow. For those selecting the equity option, additional details will follow pending regulatory approvals.

We thank you for your support and continued patience with us and look forward to having this all behind us as soon as possible.

Sincerely,
Your iBill Team

fktup · 12-01-2004, 03:13 PM

Thanks for the update. Let's hope the make good on it.

TheWylders · 12-01-2004, 03:40 PM

Yea, so CMI shows a check cut for me which I should receive tomorrow via bank transfer. Problem is, there's only money there for sales from 11/1-11/15. No pastdue amounts whatsoever, no reserves, nothing! WTF!!! There update says they're going to pay it, but never says when. My undersatanding was on the Nov 3rd call they said pastdue amounts would begin to be paid in Dec along with normal payments. Am I just confused or is this totally fucked up!! I'm sending them only enough signups to keep my account active, even had my rep give me shit about having the iBill links 'way down at the bottm' I told him until I got some confidence back, that was where it was going to stay!

camcutie · 12-01-2004, 04:03 PM

I called ibill today because I had the same questions for them....

"They say" we did get paid for 11-1 to 11-15 today but....

Rep told me that the PAST DUE PAYOUTS will begin this month. They aren't able to pay everyone all at once (?) so they are paying some people each day. IE: Some on the 1st ,some on the 2nd, some on the 3rd etc. and so on until the end of the month. They don't know as of today who will get paid when but say they will have a list of names by the 6th and you can call and ask where your name is on the list (which date you will be paid).

They say they will be paying us 1/12 of what they owe us plus 6% interest each month up until pay off or thier old processor comes through. But did not say exact dates. When the old processor comes through they say they will pay us everything owed in one lump sum within a week after they recieve the funds.

I did get a CMI report on 11-1 to 11-15 today as well but usually takes until the next day to show in the bank... when it does show in the bank I'll be posting another thread for sure!!!! :- P

*Krystal*

Hinc · 12-01-2004, 04:25 PM

Thanks alot for the update !

Of course it´d be better if they´d pay out all pastdue amounts amounts in total and at once, but at least I suppose you´d have to hand it to them, that this seems like a viable path out of crisis - and to get everyone what they´re owed (+6% interest).

It aint like time for celebration, but it´s a whole lot better than I´d feared, and as such I´d say this thread brought on a small smile on behalf of Ibill.

TheWylders · 12-01-2004, 04:30 PM

Thanks for the info Krystal! I guess it's still just a wait and see game, I really hope they're going to bounce back from all this but I'm really starting to loose patience.
BTW Krystal, Liv still wants to take a trip to Florida if you're still up for it

You gonna be in Vegas in January?

12-01-2004, 03:10 PM	#1
DeadFidel Confirmed User Join Date: Jul 2003 Location: This was my wife circa 2002 Posts: 6,760	Ibill update (for those with no CMI access) OK, so it show up on stats, but not in my account. and more important, read the part about past due funds. Dear iBill US Client, As announced on the iBill client conference call on Wednesday, November 3rd, iBill will resume scheduled US payouts starting with November 1st transactions. November 1st through November 15th transactions will be paid out on December 1st. All US clients will resume their normal payout schedule: 1st of Month: 1 - 15th transactions from the previous month 15th of Month: 16th - end of month transactions from the previous month Monthly clients will be paid on the 15th of the month for previous month transactions RevShare clients will resume their normal payout schedule: 8th of the Month: 1st - 15th transactions from the previous month 22nd of the Month: 16th - end of the month transactions Catalog Complete clients will resume their normal payout schedule: 26th of the Month: 1st ? end of the month transactions from the previous month Past due client transactions and reserves will be repaid with 6% interest over an extended period. However, repayments of outstanding client reserves will be subject to the release of funds currently being held by our former processor, and such repayments may be made directly to clients by our former processor. We are working with our former processor with the intention of expediting payout of outstanding client reserves. Clients will also have the option to convert their entire past due amounts or a portion of the past due amounts into equity at a 50% discount. RevShare amounts due as of October 31st will be paid in four equal payments. Additional information regarding the RevShare past due payout program will follow in a later communication. By Monday, December 6th, you will be able to log into the Merchant Info area at http://www.ibill.com/merchantinfo/login/login.cfm to review past due amounts, a brief summary of the plans and select the option that you would like to move forward with. You will receive confirmation of your plan selection immediately and depending on the option chosen, the promissory note will follow. For those selecting the equity option, additional details will follow pending regulatory approvals. We thank you for your support and continued patience with us and look forward to having this all behind us as soon as possible. Sincerely, Your iBill Team

12-01-2004, 03:13 PM	#2
fktup Confirmed User Join Date: Nov 2003 Location: CO Posts: 238	Thanks for the update. Let's hope the make good on it. __________________ pornofish adult site reviews

12-01-2004, 04:25 PM	#5
Hinc Confirmed User Join Date: Oct 2004 Posts: 2,577	Thanks alot for the update ! Of course it´d be better if they´d pay out all pastdue amounts amounts in total and at once, but at least I suppose you´d have to hand it to them, that this seems like a viable path out of crisis - and to get everyone what they´re owed (+6% interest). It aint like time for celebration, but it´s a whole lot better than I´d feared, and as such I´d say this thread brought on a small smile on behalf of Ibill. __________________ webmaster @ adultlist. com AdultList.com - Directory Listings, Advertisements, Hardlinks Loasex.com - Directory and old school TGP - taking submits A few sales/opportunities: High Quality Guest Posts For Sale Network of Aged sites for sales. Get in touch on the email above for info.

12-01-2004, 03:40 PM	#3
TheWylders Confirmed User Join Date: Jul 2004 Location: Memphis, TN Posts: 623	Yea, so CMI shows a check cut for me which I should receive tomorrow via bank transfer. Problem is, there's only money there for sales from 11/1-11/15. No pastdue amounts whatsoever, no reserves, nothing! WTF!!! There update says they're going to pay it, but never says when. My undersatanding was on the Nov 3rd call they said pastdue amounts would begin to be paid in Dec along with normal payments. Am I just confused or is this totally fucked up!! I'm sending them only enough signups to keep my account active, even had my rep give me shit about having the iBill links 'way down at the bottm' I told him until I got some confidence back, that was where it was going to stay!

12-01-2004, 04:03 PM	#4
camcutie Confirmed User Join Date: Oct 2004 Location: USA Posts: 817	I called ibill today because I had the same questions for them.... "They say" we did get paid for 11-1 to 11-15 today but.... Rep told me that the PAST DUE PAYOUTS will begin this month. They aren't able to pay everyone all at once (?) so they are paying some people each day. IE: Some on the 1st ,some on the 2nd, some on the 3rd etc. and so on until the end of the month. They don't know as of today who will get paid when but say they will have a list of names by the 6th and you can call and ask where your name is on the list (which date you will be paid). They say they will be paying us 1/12 of what they owe us plus 6% interest each month up until pay off or thier old processor comes through. But did not say exact dates. When the old processor comes through they say they will pay us everything owed in one lump sum within a week after they recieve the funds. I did get a CMI report on 11-1 to 11-15 today as well but usually takes until the next day to show in the bank... when it does show in the bank I'll be posting another thread for sure!!!! :- P Krystal

12-01-2004, 04:30 PM	#6
TheWylders Confirmed User Join Date: Jul 2004 Location: Memphis, TN Posts: 623	Thanks for the info Krystal! I guess it's still just a wait and see game, I really hope they're going to bounce back from all this but I'm really starting to loose patience. BTW Krystal, Liv still wants to take a trip to Florida if you're still up for it You gonna be in Vegas in January?