Lender: "iBill Defaulted On Its Loan!" iBill: "What You Talkin 'Bout Willis?"
 

Ok, this is funny shit:

http://xbiz.com/news_piece.php?id=14772

"If the outstanding amounts are not immediately paid in full, the filing said, the lender intends to dispose of all collateral owned by IBD, including accounts receivable, processor reserves, inventory, equipment, property and other collateral of iBill and its XTV Investments fund."


I guess they better get in line. It starts at ibull's front door...and extends around the globe.

Why in the world would anyone lend iBill money :)
WG

Not really surprising. The only thing a billing company has is trust and they lost that a long time ago. The only good thing is that a lot of us got a tax write-off for bad debts.

-A

That makes a change from listening to lies, "forward looking statements" and bullshit.


And this is a loose use of words...

Etelegate.com is not any legal entity - it's a $10 domain name. The actual company Etelegate Limited is a UK entity which has already been dissolved.

ibill blows

it never ends

Call the phone number on etelegates website it goes to ibill sales department:1orglaugh

WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit

the etelegate smokescreen?

a poor smokescreen at that!

Exactly!

The other factor is - "whoever" is also using the name of a dissolved UK company, Etelegate Limited, as a contact on the etelegate website (the address, 29 Harley Street, London, on the website is a maildrop).

No filings have been received by the UK companies registrar since the company formation and this company has already been dissolved at Companies House in the UK. (BTW... it is an offense to purport to operate or trade using a company name which does not exist or has been dissolved)

Give em more rope! :1orglaugh

You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies.

We are pinned to 1% CB but the processors get away with fraud.

I've wondered about that too for quite some time. Its mind-boggling to think that a company such as iBill that has badly ripped off so many others - is still allowed to process for visa and MC. I think that also speaks about the ethics of the major CC companies as well. They don't appear to give a rat's ass about the ongoing fraud and scam - as long as the billing continues. No one can convince me that the higher-ups at visa and MC aren't aware of the situation with iBill and unpaid webmasters.