Globill..anyone else get their package today?
 

My 'settlement package' just came in.... anyone else get theirs?

Not too optimistic. :(

No. We haven't even received confirmation that they received our snail mail, which was sent ages ago via registered mail. :mad:

What does the settlement package look like? Anything at all is better than what people usually get when a processor goes under.

nothing yet.. that has to suck

what is the "settlement package" supposed to contain?
anybody know?

It's a zip file containing several pages explaining what your 'options' are... there's 2.

From what I can tell by reading it quickly, it's saying:

-Take 10% and walk away

-Hold out for 110%, assuming they recover the funds that are being held.

Hmm

I can't fucking believe it. I was having a good day until now. I got the package. It would have probably been better if they just fucking disapeared. Now I have to look at how much I made, and how litttle Im getting.

Option #2 to get up to 110% if they win the suit against the CPA's is comeplete BULLSHIT and will never ever happen.

that fuckin' sucks.

Yooo hoo!

10%. What a fucking deal; I was expecting just a bag of shit. This is a great present; I would have never expected so much...

Long-assed legal document basically offering two options:

- Take 10% now and move on with your life
- Hold out for a potential 110% if they win some litigation

At this point, the 10% looks tempting to me. Kinda tired of flogging this dead horse and not willing to wait years more.

It is a better offer than I expected though. They coulda pulled a lancelot/websitebilling/OBS/DMR and completely vanished.

:1orglaugh

I think Lancelot offered an actual bag of shit when they went under. But you had to drive to Terry and Elizabeth's house, scoop some of their dog's poop into your own bag and then pay them a nominal fee for the privelege.

I bet the Globill guys are having a good time with our cash out in the carribean.

Apparenlty not. According to the lawsuit, the programmer/employees are suing the accountants and financial officers who embezzled huge chunks of change, on top of all the Visa problems. Looks like an Enron thing where a coupla crooks at the top shafterd both employees and webmasters and now there's lawsuits galore.

[QUOTE]Originally posted by mikeeee
[B]I can't fucking believe it. I was having a good day until now. I got the package. It would have probably been better if they just fucking disapeared. Now I have to look at how much I made, and how litttle Im getting.

I agree with you. First DMR totally screws me, then Globill royally f*cks me.... hell, I may as well just stay bent over for the next one. :(

I've been laughing all day but that is the funniest 'shit' baahahahahah that I have read it a week.


hahahahahaha

All right I'll be the first to share. They owed me $10,900 on one site, and offered $1,090.

The other site, they never mentioned, so I guess they didn't like that I combined two sites in one letter, so I guess I can just kiss the 10% goodbye on that one.

You people are looking at it the wrong way. You didn't loose 90% of your money today. You lost 100% 2 months ago. It would be a total fucking miracle to get that 10% and I will take it.

I plan on taking my $1,090 and see if I can find a hooker I can fuck up the ass so she can have the same Globill experience I did. :thumbsup

Sometimes I feel good that I dont have my own paysite...

Goddamn....I fucking hate those assholes...10%, what a damn joke. And the letter says potentially "up to a maximum of" 110%, so even if they win, you'll probably still get your 10%.

Fuckers!

did you even read it? If they win, all proceeds go to the webmasters FIRST, before any deductions, and then to globill employees second. So if they win, you would probably see well in excess of 10%, maybe even our full amount. Only thing is that you have to wait for the legal stuff to finish and that could take a year or two. Plus there is no gaurantee when you are talking court. But given the situation, the settlement is really not that bad at all. At least there are some real choices.

um...probably lawyers first

That's what I'm saying...I think the Settlement 2 idea is not a winning idea...who is thinking of electing that option?

I was expecting a letter which basically said "we are broke and you can have X cents on the dollar if you sign a thing saying you won't sue us." I was kinda hoping for more than 10%, but the figure doesn't really shock me either. I'm actually really annoyed to have to decide whether I should wait to get actual money or accept chump change now. Interested to see which option other folks are choosing.

That's what I would have assumed but the contract is very clear that the employees are funding the litigation themselves and NO deductions will be made on the judgement (if any) until webmasters are first paid. Only then will deductions be made for lawyers and damages to the employees. That's a pretty fair deal, all things considered. The only thing is do I want to wait around for another 2 yrs for that or take some chump change now and go to Vegas to blow it....

:1orglaugh :1orglaugh

Hmm, I do love Vegas

What a bunch of CLASS A cockholsters!!!
I swear when i get to hell i will fucking sit next to satan and enjoy torturing those spinless fucks!

Its such a pissoff. The way im feeling right now I would just tell them to take it all and leave me the fuck alone.
They should be castrated with a pair of rusty garden scissors!

10% now or 110% later....Ya riiiiiiiiiiiiiiiiiiiiiighhhhhhhhhhhhT!
as if....

If I've said it once, I've said it a million times:

"It's all about the carrot and the stick."

If something looks too good to be true (like using Globill and avoiding the Visa regulation fees) then it probably is. I'm not making fun of those of you that went with Globill but you really should have seen this one coming right from the start.

I would love to know when they new about the CPAs stealing from us and when a suit was filed agaionst them.
Remember you will only get up to 110% if they win against both the CPAs and Visa. Read all the documents so your fucked both ways.
Best to just stick your head between your legs and kiss your ass good bye !!!


Cindy xx

The 110% is if they win against the CPAs only, not Visa. It clearly states they won't sue Visa until the first lawsuit is finished and webmasters are paid.

Isn't anyone actually reading this thing?! Seems that everyone quickly skimmed it, made a few assumptions and are just posting anything off the tops of their heads here.

Understandable, however some of us had been with Globill for years, and had no reason not to trust them in running their business... needless to say, this all came as quite a shock after all this time. :sadcrying

It's GFY. Why on earth would people actually read stuff properly and then make informed replies? Are you thinking of another board? :glugglug

here is the payments they owed me for the 5 weeks they held back, not to mention the 6 months of reserve they owe me. they only offered me $277 what a fucking joke, with reserve it sould be close to 10k
so they left off a zero on my payout

Period Ending: 2003-07-20
Sales Gross: $1399.45
Income: $1176.23
Partner Income: $0.00
Referral Bonus: $0.00
Referral Income: $0.00
Phone Income: $87.50
Old Reserve: $52.27

Reserve: $104.95
Phone Reserve: $39.37
Click Payout: $0.00
Chargeback Gross: $0.00
Chargeback Count: 0 [$0.00]
Credit Gross: $0.00
Deductions: $0.00

From previous: $0.00
Minpay: $200.00
Commission Bonus: 1.00
Final Period Income: $1171.67
Income + Previous: $1171.67
Actual Payout: $1171.67

Reason (if any): 0

-------------------------------
Period Ending: 2003-07-13
Sales Gross: $982.60
Income: $825.86
Partner Income: $0.00
Referral Bonus: $0.00
Referral Income: $0.00
Phone Income: $46.09
Old Reserve: $29.67

Reserve: $73.69
Phone Reserve: $20.74
Click Payout: $0.00
Chargeback Gross: $0.00
Chargeback Count: 0 [$0.00]
Credit Gross: $0.00
Deductions: $0.00

From previous: $0.00
Minpay: $200.00
Commission Bonus: 1.00
Final Period Income: $807.18
Income + Previous: $807.18
Actual Payout: $807.18

Reason (if any): 0
-------------------------------------------------------------------
Period Ending: 2003-07-06
Sales Gross: $1467.60
Income: $1200.31
Partner Income: $13.45
Referral Bonus: $0.00
Referral Income: $0.00
Phone Income: $15.36
Old Reserve: $50.73

Reserve: $110.07
Phone Reserve: $6.91
Click Payout: $0.00
Chargeback Gross: $0.00
Chargeback Count: 0 [$0.00]
Credit Gross: $0.00
Deductions: $0.00

From previous: $0.00
Minpay: $200.00
Commission Bonus: 1.00
Final Period Income: $1162.87
Income + Previous: $1162.87
Actual Payout: $1162.87

Reason (if any): 0
-----------------------------------------------------------
Period Ending: 2003-06-29
Sales Gross: $1741.50
Income: $1409.56
Partner Income: $21.95
Referral Bonus: $0.00
Referral Income: $0.00
Phone Income: $30.73
Old Reserve: $74.04

Reserve: $130.61
Phone Reserve: $13.82
Click Payout: $0.00
Chargeback Gross: $0.00
Chargeback Count: 0 [$0.00]
Credit Gross: $0.00
Deductions: $0.00

From previous: $0.00
Minpay: $200.00
Commission Bonus: 1.00
Final Period Income: $1391.84
Income + Previous: $1391.84
Actual Payout: $1391.84

Reason (if any): 0
-------------------------------------------------------
Period Ending: 2003-06-22
Sales Gross: $1544.95
Income: $1298.50
Partner Income: $0.00
Referral Bonus: $0.00
Referral Income: $0.00
Phone Income: $15.37
Old Reserve: $98.21

Reserve: $115.87
Phone Reserve: $6.91
Click Payout: $0.00
Chargeback Gross: $0.00
Chargeback Count: 0 [$0.00]
Credit Gross: $0.00
Deductions: $0.00

From previous: $0.00
Minpay: $200.00
Commission Bonus: 1.00
Final Period Income: $1289.29
Income + Previous: $1289.29
Actual Payout: $1289.29

Reason (if any): 0
----------------------------------------------------------

Hmmm. I got chopped some but no where near that level. The figures they say they owe me are about 10-15% less than what I had on file. But a lot of webmasters fucked themselves on this. The minute Globill wnet down, some dumbass webmasters were telling all their users to chargeback. I even got spam from these guys telling me to get my Globill users to charge back. Well they achieved their goal. There were apparently a ton of chargebacks which means more Visa fines, more penalties...which ultimately just reduces any amounts we are due to get paid back. Not to mention, more users out there now know how to do chargebacks, which isn't good for anyone.

Yeah it's bullshit bud
we did the right thing and honored all memberships for globill customers also i only ever had one charge back in 12 months.
Makes me sick

What is this "Let's Make a Deal"?!

Even if we take what's behind Door #1 - The question remains: "Ten percent of how much?" 10% of what they REALLY owe us - or 10% of what they SAY they say is owed? There is a reason our pay stats vanished when Glo-Bill closed shop.


RE: Terry and Elizabeth Neves - They have put our hard earned cash to good use - In the past year, they have purchased several beachfront condos in Jupiter, FL - EACH costing between $700,000 and $900,000. And that's the truth. There is no question that they will rot in Hell.

That money was lost... Read the threads of that time....

Now, if you need that money to operate, pay your rent, food, car, weed, etc... then take it and kiss their ass: they didn't have to give you a fucking nickel....

On the other hand, if your business is solid enough, take the possible 11o% . Those odds are better than the one I had at the casino last weekend ...

They claim there is an amount of reserve held in another bank, and that could be paid out shortly... just like poker...

I am taking the long run. I don't need the 10% ...

:2 cents:

The large majority of us used GLOBILL for years and it was not about the new regulations. I had used them for over 3 years..

here is my take on the situation.

1. One needs to find out if the two bank accounts hold in excess of 16 million (probably 18-19 million).

2. Documents show that the programmers (indispute owners) are acting in good faith. This does not mean that they have to pay back any monies though. This may be a ploy to stem any lawsuits directed at the company from any webmasters.

3. The 1.6 million has probably been accrued by the CPA and a % spend (unretreivable without liquidation of assets and property) and the rest funneled into account that might be hard to trace. A very small portion of this will be recovered.

4. If the programers get access to the two bank accouts then it is possible that we could see between 20-70% of our money back, not much more.

5. If you decide to sue you may get 70% of your monies. Plus if you have a good lawyer a % of your lost recurring rebill monies.


I am going with option 2 until I know whether they get access to the two bank accounts. If notified with a payment date I will sit tight. If not I will sue.

Also, these documents bode well for submission to the IRS for business losses. Also I have asked my lawyer in the past over Lancelots theft for the recurring (loss of rebill income) to look into what losses I can deduce from my income statement.

goooooood luck.

:thumbsup

Amen! That's what I'm doing too.

There's a few things I am still wondering...

- Why did webmasters have to proactively send a request for settlement? Globill sent us all checks or wires periodically, they have our full details.

- Why were checks CANCELLED? There should have been sufficient funds in their account to cover checks that were already sent; if the checks were cancelled then what did this money get used for?

- Why does www.globill-systems.com still show the normal site? Not a single clue that they have closed down - get a free preview account!

- Why are the stats no longer available? They showed up briefly on another server for a short period but it looks like they're gone for good now.

Not to mention, more users out there now know how to do chargebacks, which isn't good for anyone.

I wouldnt think that is a wise assumption in this day and age. Prolly more prudent to believe all consumers know the charge back trick.

So the game is to charge them only enough that it is not worth the time to chargeback and just simply cancel.

Wonder what that threshhold amount is, for the average consumer...

rowan

1. legal, and also weeds out those who don't care or are lazy. Less money to pay out. Notice though that they have sent you an amount for the settlement.

2. All bank account were frozen. Seems that the law suit against the CPAs move faster than our notice.

3. don't know

4. don't know

exactly....for those who haven't realized already...globill will never send anything..I didn't even bother sending them a request...I know they're gone for good...

Agreed I am taking that option as well:thumbsup

:glugglug

There are a lot of unanswered questions and a tremendous amount of bullshit in the "settlement package". Obviously this company had deep rooted problems for a considerable amount of time preceding July 25, 2003. Yet rather than be forthcoming, they chose to respond to the growing concern of the webmasters with constant reassurance - thus instilling a false sense of security.

The "CPAs" named in the settlement package - with whom they claim to have filed suit against for misappropriation of 1.6 million dollars, most of which constituted webmaster's reserve funds - are allegedly the husband and wife who own the company!

The entire thing reeks of dishonesty - I'll be surprised if we ever see one red cent.

the option 1 agreement says they will send a check within 30 days of returning the agreement. That's fast enough to find out for ourselves if they will send a red cent or not. If they don't then sue them. Pretty simple. The dead horse has been more than flogged by now. I think it's approaching dicing and marinating.

10% :1orglaugh :1orglaugh :1orglaugh

Total owed as of September 30, 2003 (?Total Owed?): US$1,104.14

Guaranteed Payment Under Settlement Option 1: US$110.41

What a fucking joke!!

I was kind of okay believing they had a Visa problem because I felt like that was a known risk I took staying with them after the changeover. I'd been with them for years when the Visa regs changed and I felt like they had taken care of me and I didn't want to lose my rebilling.

But the whole our accountants/nominal leaders snarfed the dough thing . . .

50 IOUs from globill :glugglug