XBIZ NEWS: IBill Plans to Cover Merchant Debts of Former Company
 

XBIZ NEWS: IBill Plans to Cover Merchant Debts of Former Company

DENVER ? iBill says it plans to honor all promissory notes issued by the former company of the same name.

With the announcement made over the weekend, the third-party processor also said that it would release a new iBill payment processing, iBill 2.0, that includes a payback option for former iBill merchants.

http://www.xbiz.com/news/118099

Holy shit!

I am impressed.

Some good news for a few folks. See how it goes.

thats awesome if true!

$33 million i doubt that. How are they going to verify the notes if they don't have access to the old IBILL files. And since they are supposed to have nothing to do with the old IBILL, sound like BS to me ?

I will beloeve it if it ever really happens.:2 cents:

i sale short iBill promissory notes.

They already said they are new owners, and I'm sure when they bought it they didn't buy the liabilities. Something fishy!!!

But if true, great move!

money money

What about all the money we were scammed when our Ibill account was moved to Etelegate?

Etelegate is STILL rebilling our members from 2006 and not paying us.

great news for those who are owed, but I still wouldn't trust em

Its only for those that have promissory notes issued by iBill. I doubt iBill even issued promissory notes and just packed up and left way back when.
WG

of course you have to process with them to get your money, right?

and they decided to pay although they always said they have nothing to do with the old iBill...

i'd insist on getting my money first before i'd start anything new with them

By the way it's written I kinda get the impression you must also process with the new ibill as well to receive payment on the old debts.

If they were just going to pay people the money they are owed I would assume they would just come out and say it.

Might be sticky for those who want to get their money back, hard to say w/o more details so I guess the jury is still out until they make it right- but I do feel it's a step in the right direction that new ownership is finally acknowledging these debts and taking some course of action, though it may be limited, at settling them.

I believe it when I see it.

They said they brought the domain name IBILL.net. i didnt see any talk of them buying the company. Ill post if i get my $80,000.00 :error

were you issued a promisory note or is that some kind of scam tactic?

sounds like clever marketing gimmick to me.

surely they will want you to process with them in return. i'd never send a nickle that way again.

if they've agreed to pay people then thats what they should do. might be some laws that prohibit them from attaching conditions to the satisfaction of the previous debts.

who knows. i don't care enough anymore.

:2 cents:

Yeah, believe this when your bank account gets hit with the transfer. 'Promissory note' can mean a lot of things and it is most often linked to bank credit, trade creditors, etc... I don't know where 'owed Webmasters' fits into all of this but, if the bill is as big as everyone says it is, I highly doubt that iBill will be 'footing' it. I could, however, see this: Use our processor for your sites again and we will ensure that you are paid over time --- in other words, trust us again and we promise (again) that we'll pay you. LMAO I, for one, will be sticking with our current providers. :)

where is rodrigo.. he will clear this all up....




.

It was a scam much like this is. IBILL sent out few if any notes so the $33 million missing will never get paid back. This new IBILL is dyeing to get adult web masters so they will try anything to get gullible people to sign up. This so called new IBILL refused to post how they insure the money they hold for your sites or even if they have insurance.

When they purchased the company ( if indeed they did ?) they would only have the books if they purchased the debt as well. Sounds like its time to re double the bumps and renew the posts on all the boards. I think XBIZ should as some searching question before posting crap that will only raise hopes of unfortunate web-masters only to have them dashed at the last minute..

If you have to open an account with IBILL before you get back the moneys stolen from you, then you know its a fake just like the last time IBill tried this 4 years ago

How many times are people going to let these idiots fuck them over.
the money is gone it is not ever coming back.
why lose more fucking around with their empty promises.

lets see if it comes to fruition :2 cents::thumbsup

ipsp rights are gold- smart move if they do.

I am not sure I will believe that either.

Even if they pay out a few hundred grand to those that may have managed to get notes out of the old ibill. Nothing at all for everybody else.

That's still a very small fraction of the ~$33 million owed.

And the way it's worded about the 2.0 Webmaster Repayment option sounds like they will only be paying if you are signed up with their processing again.

Seriously. Did ANYONE here who has been fucked over by the old iBill get a promissory note? If so, speak up so we can all see how much bullshit this ploy really is.