woj

50 Ibill updates

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tony286

The new stuff ibill is doing sounds very exciting. No more waiting for the first and the 15 th of the month.

Dawgy

yeah i agree

just wish theyd explain why they dont have money on hand for the 1-15 period of september to payout on oct 1...

how can u run a processing company with no money

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the revolution is coming.

txl

September Payout Schedule

Please be advised of the payout dates for September 2004.

Check Date Pay Date

US Monthly & Semi-Monthly 9/15/04 N/A
EU Monthly & Semi-Monthly 9/19/04 N/A
US Revshare 9/22/04 N/A
US Catalog 9/26/04 N/A
US Partner 9/27/04 N/A
Reserve Payout 9/30/04 N/A

mrthumbs

Look around you.. shit is hitting the fan.. again..nothing to be very excited about.

Ray@TastyDollars

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Raven

With all due respect, Adam....I hope and pray that IBill comes back from wherever they've been these past few years.

We had an account with you....as far back as '99. When you didn't pay the web 900, we changed processers, but kept you as a fourth back up.....

As they fell, one by one, we considered you again.

When we were forced to buy our company back from our ex partners, that was not your fault. But, when we could not get an account rep to help us change the name on the account, that was your doing.

Every show I attend, I talk to your reps. Each and every one of them apologises and tells me to call after I get home.

I am fed up with this. If you can't change an account name, so that I'm able to pay the registration fee....then, how am I to ever trust your organisation again?

The last time I talked to an I Bill rep was at the Florida show. They told me to call them when I got home. I told them to call me and gave them my phone number. They didn't. As expected.

I give up.

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Methodcash Rick

Aye, it does indeed... THing is tho, if it is, the approval process would take much longer than 1 day, as I think Adam stated...

It may be time for us to bite the bullet again, and drop 3rd party in favor of our own accounts..

God what a nightmare that would be...

imageman

I am sure they have the money on hand . But they are waiting to see if First Data pays them. Don't forget Web 900. If Ibill paid out on time and then First Data held on to the funds it would be Ibill that lost out and not the webmasters.

Oh and don't forget all those members who have access to your site for free until the Visa rebills go through in a week or two ? Lets see how many decide to cancel once this fiasco gets out on the web ?

Oh and Epoch have been processing in Asia for some time so what's new about Ibill doing that ?

As usual Ibill dose too little too late and follows way behind the professionals like CCbill and Epoch. Ibill you can run as hard as you like but you have done too much damage to ever seem credible again.

I wonder if Ibill can answer this. Epoch had notice of First Data's move out of the adult market at the same time as Ibill as i understand it. So how come Epoch made a smooth transition without stand-ins and weeks without Visa Remember we have already paid our $750 this year to Ibill ( do we get a refund for this period ?) . After all Ibill promote themselves as the biggest and oldest online billing company so surely they should be way ahead with all their experience and resources.







.

RyuLion

Woah! I hope they have a good answer!

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keyboard warrior

Think IBILL needs a better sig! what a shitty logo!

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- nothing here -

robbieh

Quote - When a company encounters a business issue such as we did with First Data,


all monies are held.


Please explain this to my landlord,

besides, when it comes down to paying reserves.shouldn't you have enough money to pay what you witheld from me 6 months ago ?

Something else, little while ago, Ibill decided to move the reserves to the end of the month instead of paying out on the 15th, was just wondering how much interest that is over all the accounts Ibill handles.

TaDoW

damn I'm glad I didn't switch over to ibill

LOLOL

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imageman

Another very good point and one i had forgotten.



.

Jack76

Dream on
EU webmasters are not paid for August and you would like to get money for September

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DeadFidel

How many of you have all your eggs in one basket? I too am getting screwed by ibill, but luckily I learned the hard way and can pay my bills this month.

MickeyG

bump for more answers to some of these questions.

Okidoki

is it me? or is ibill.com down?

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DeadFidel

This thread was just about to fall onto the second page.
They owe me 4k plus, plus. Tell you what sickens me most are the fucking people thanking Mark and Adam, for the fucking updates. I bet they get their fucking check come Friday.
Stop being so fucking polite; it's our fucking money! You think by kissing their ass they'll make an exeption and pay YOU?
Fuckin ah.

NickB.

Correct, site is down!

http://www.ibill.com

scoreman

Join pages appear to be up still.

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Kevin2

I use Ibill for only one of our sites and they haven't paid for August yet. I emailed my account rep and she emailed Client Support and copied me and still nada. Worst of all is one of my affiliates has a zero value sale and I emailed Client Support asking how the heck this can happen and they just ignore me.

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scardog

No. I don't think being polite, or screaming at them is going to change who, when, or if we get paid. First Data is holding our money. Cursing at Ibill will not change this fact. I think being civil in times like these is the best course of action.

NickB.

Damn... I hope they work it out! Good luck Ibill!

hjnet

Great Timing

scoreman

the site appears to be back up now

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DeadFidel

Bullshit. Nice guys finish...

and you need to put pressure on them. If You all sit around with an "oh well let's wait and see" attitude like you, they will too!

onceapilgrim

yep, the cmi is down as well.

I changed over to ccbill last week and now wish I'd have done it last year.

Looks like ibill is going down and I'm advising all my members who joined in september to get refunds from there credit card companies.
If I'm not having the money, no fucker is especially those hahahahas at I fucking bill.

scoreman

Your wasting your time by harassing them for payment. No amount of bitching will get you paid faster. iBill is well aware that without payout to their clients soon then its the end of the road for them. 90%+ of their clients have a payout date on Oct 1. Those 90% are currently not owed, but should iBill miss that payout date thats when the shit will really really really start hitting the fan.

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scoreman

Won't you feel smart if they make payout in the next few days and your members refund all your sept joins....

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DeadFidel

Then I guess we don't have too long to wait and see, do we?

collegeboyslive

Oh come on guys, here is how i see this play out ( Place your bets )

A lot of webmasters are waiting to see if they get paid on the 1st. if they dont there will probally be mass changing of processors ( even more than now) When I bill eventually gets their systems back on line it will be too late, the only people left with them will be tiny little sites billing 5-10 people a week. Ibil wont be able to make payrol so their staff will leave and Ibill will fold.

Who is going to stay with a processor who cant pay?

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MickeyG

Huh? I bumped this thread from the bottom of page 3 because I want to see more answers to other peoples questions. I certainly am not kissing anyones ass. Maybe you missed the big FUCK YOU IBILL i wrote earlier in the thread? Believe me I am pissed!

I am however grateful that Adam actually came on here to respond to some the questions. After a week of canned statements from them direct answers are certainly appreciated.

Tipsy

If this was any business other than online porn you'd have a point

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TheLegacy

how come no one from IBill has answered this question??

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scoreman

Those financials are of Care Concepts, not iBill. I dont believe you can look at the Care Concepts SEC financial disclosures and infer any judgement on iBill's financials from them.

The ISO plan they have for their clients leaves alot of questions like

A) Will clients have to be approved for the merchant acct? iBill has said that they would be underwriting the accounts but can the bank still require some of the basics they usually require for the merchant account setup? For example most banks require that the applicants be USA citizens and they cannot have bad credit.

B) Will the clients be required to have personal guarantees? (thats where you have to sign off for the liabilities of your merchant acct and technically put up your house should the merchant acct get screwed). Its one thing when you get a merchant acct and have the ability to manage it, its another when a third party controls the merchant acct management decisions. I would be very uncomfortable with putting up my house to another's management decisions.

C) Will there be check cutting done by iBill? Those of us who utilize revshare in our affiliate programs would have to begin implementing an upgrade to our accounting staff to make accomodations for checks should we be now required to do this. In most ISO situations the banks directly fund the merchant account holders and therefore the checks are the account holder's responsibility.

Those are three questions right off the top of my head, given some time to think on this some more, I'm sure I'd have alot more to ask.

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TheLegacy

Im calling a BS on this one

Anyone who can read financials knows perfectly well that Care concepts is a shell company.... the financials a webmaster is referring to are Ibills.... that were public.... Ibill are the ones 11 million in the hole... not care concepts.... because care concepts has no $$

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icedemon

iBill is reminding me so much of PSWBilling when they were on their way out. PSWBilling kept telling everybody they would get paid and people held on to them hoping to get paid until the last minute. PSWBilling talked about sueing VISA with money they didn't have to pay thier clients just like iBill talks about sueing First Data with money they don't have to pay thier clients.

I think iBill will survive this mess, but I also thought the same of PSWBilling. I don't use either company. It's just weird to see the same thing play out all over again (like how people react and how the company reacts).

TheLegacy

honestly the only way IBill will survive this is if webmasters turn a blind eye. I was royally pissed when someone said that Care Concepts is not apart of IBill -when in fact anyone who can read financials knows perfectly well that Care concepts is a shell company.

do they think we are that stupid??

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jimmyf

not good

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jimmyf

looks like they do

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Jack76

Only 10% Ibill's clients live in Europe?

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TheLegacy

agreed, I work with thousands of webmasters who are great friends of mine. I do not subsribe to any of the billing companies so unlike scoreman who is a lawyer and is in tight with IBill - I have no bonds, just protecting my webmaster friends.

but to come up and lie to me, when scoreman knows full well as does IBill and tell me that "Care Concepts has nothing to do with IBill and is a separate company" when in fact they and those who read their financials know Care Concepts is a shell company - pisses me off.

I have heard too many times how IBill treats people like shit, and expects that we are going to beleive the excuses that are given when in fact mismanagement and stupidity / greed is what is to blame here. Until now they refuses to look after their debts

They are not going to be let off the hook that easily nor make us beleive that everything is okay

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scardog

Nobody said everything was okay. Everything is not okay, but they are working to repair any damage that has happened. I am sure you have your reasons to grind the axe, but others experience with Ibill may be different, and they have our money that we use to feed our children. So, we are hoping for the best.

scoreman

This is priceless. First you call "bullshit" and then you come out and call me a liar.


Ok for starters I am no securities expert, but maybe you should point to these numbers you are speaking of. When I look at the Edgar filings made by Care concepts I see a company that publishes things like this:

"Total revenue for sales in the nine months ending September 30, 2003 was $263,500 compared to $542,808 in the nine months ending September 30, 2002, a decrease of $279,308. The decrease was due to the sales of marketing agreements, totaling $414,092 in the first nine months of 2002. "

and this

"Costs and expenses totaled $148,301 in the quarter ended September 30, 2003, including $25,119 for selling, general and administrative costs; and $123,182 for management fees. Costs and expenses totaled $221,966 for the quarter ended September 30, 2002, including selling, general and administrative costs of $176,966 and management fees of $45,000. "

Are these the assets you are referring to? Any disclosure of assets that you could have been shown of Care Concepts would have been from the previous quarter. Care Concepts last SEC filings came in August and were for results that ended in June 30th 2004. At no time has Care Concepts listed iBill assets in their SEC disclosures except to say that iBill had "Unaudited revenue"

In short, the "financials" you are talking about ARE all about Care Concepts and NOT iBill.

Oh, one more thing. Fuck you for calling me a liar you asshole.

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collegeboyslive

Just another sobering thought for your morning coffee.


If Ibill goes down, so do your 6 months of reserves, which , if you are like me, that can add up to tens of thousands

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TheLegacy

I dont mean to attack you personally, lets keep this above board here as Im sure you have alot at stake as does my webmaster friends if IBill goes under... but I will say on record that it is only ibill, who keeps telling everybody that everything is fine, but it isn't!

Ibills financials, the last time they were made public showed that they were 11 million behind, and without continual transactions they would be in trouble and not able to pay webmasters is what is being referred to here..... not care concepts.

Care concepts does not have the ability to take on an 11 million dollar debt.

Question: why has care concepts rescinded their original offer to purchase ibill?

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scardog

Answer: Ibill lost their processing bank, which has had a severe impact on the business, which they are fighting to repair. Care Concepts instead bought almost 50% of the company that owns ibill.

scoreman

I'm fine with keeping this professional, but you can expect if you say that I am lying to you I will take that personally.

To my knowledge Care Concepts rescinded the deal because it was part of the agreement that should AMEX delist their stock due to the purchase, then the agreement was rescinded. AMEX wasnt too happy with this reverse merger as it was essentially allowing iBill to IPO without the usual oversight. IBill essentially was getting access to capital markets in the AMEX without Care Concept stockholder approval or any of the other usual requirements.

I would be one of the first to say that the IBD/iBill merger smells bad and looks shady.

As far as the 11 million debt you are referring to, I dont see it anywhere. Maybe you could post a link? I would hazard a guess that this debt has its origins with the fact that Intercept sold iBill to Penthouse Int'l for a small cash amount and a large note. That note would have been right around the amount of 11 millionish. In the event that note comes due, what do you think Intercept will do? Liquidating iBill is not the option I think they would choose as then their iBill asset goes for pennies on the dollar. They don't want iBill back so I would think they would renegotiate terms with the PHSL group.

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TheLegacy

correct, AMEX delisted them, they rescinded. How is any of this good for ibill or care concepts (whose stock has plumeted in the last days)?

My point is that this is not a good situation for care concepts, ibill, or any of their webmasters whom are now forced into getting their own merchant accounts while having to pay ibill fees?

You are on line with the 11 million note, renegotiate all you want, Ibill doesn't look to have enough reserves or cash to take a hit by Visa or to have all of the bank reserves held and still continue its day to day operations and pay the webmasters.

Im just very worried for my clients and webmaster friends of mine, and i sincerely feel that IBill is using a small bucket to scoop water out of a sinking liner here and tell us all that things will be okay.. Thing is (as Im sure you are more than aware of) we have all heard these stories before by other companies that have gone under.

I dont think that webmasters are that niave anymore, and ignoring then / not paying past monies owed and other situations mentioned here is the way too go for giving any confidence and trust that anything promised or assurances by IBill can be taken at face value.

I sure hope your right my friend, because like you - many webmasters have a great deal to loose and IBill has only managed one thing correctly in their companies dealings - how to pull the wool over everyones eyes.

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