Personal Loan Shop - any progress

[gramtrad]

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Hi all,

Does anyone have any information, please, on the current position with this merchant?

I was aware from earlier threads, in the vertical forum, that there are difficulties with this merchant ( pequliar to Webgains, I would add). However, it all appears to have gone quiet, recently.

When will the issues be sorted and when will the merchant be back to live status on the network?

A note on the updated position would be appreciated.

Thanks

[Andrew Copeland]

Hi gramtrad

Unfortunately, there has not been any further movement on the situation but we're doing all we can to get the situation resolved.

We're hoping to be able to release payment of the July commissions very soon. In order to get commissions out to affiliates as soon as possible, Webgains has decided that, while the invoices have not been settled, we'll pay out commissions once the merchant has issued sufficient payments to cover the commissions bit of the invoice. We're not going to wait for the full invoice amount (our fees etc) to be cleared as this may take longer than hoped.

At the moment we're waiting on a small payment from the merchant in order to cover off the commission value on the invoice. As soon as this has been received, commissions will be released...at least for the July invoice.

As I know more, I'll keep you all posted.

Cheers

[gramtrad]

Hi gramtrad

Unfortunately, there has not been any further movement on the situation but we're doing all we can to get the situation resolved.

We're hoping to be able to release payment of the July commissions very soon. In order to get commissions out to affiliates as soon as possible, Webgains has decided that, while the invoices have not been settled, we'll pay out commissions once the merchant has issued sufficient payments to cover the commissions bit of the invoice. We're not going to wait for the full invoice amount (our fees etc) to be cleared as this may take longer than hoped.

At the moment we're waiting on a small payment from the merchant in order to cover off the commission value on the invoice. As soon as this has been received, commissions will be released...at least for the July invoice.

As I know more, I'll keep you all posted.

Cheers

Bump !

Any news please?

[Hero]

Hiya,
Andrew is off to our adtech stand today, I'll ask him to give you an update on this tomorrow

thanks

[Andrew Copeland]

Hi all,

Unfortunately, we haven't received the payment from the merchant as yet. I've contacted them regarding it but unfortunately they are away on holiday until the 6-10-2008 with limited access to email.

I'm hoping to hear back shortly.

I really am sorry this is taking so long to sort out...i know its a huge inconvenience for you guys and no news in these situations doesn't really go down that well.

I'll keep at it.

[gramtrad]

Hi all,

Unfortunately, we haven't received the payment from the merchant as yet. I've contacted them regarding it but unfortunately they are away on holiday until the 6-10-2008 with limited access to email.

I'm hoping to hear back shortly.

I really am sorry this is taking so long to sort out...i know its a huge inconvenience for you guys and no news in these situations doesn't really go down that well.

I'll keep at it.

Any update on this merchant please?

Have they paid up and if so, when will they be back on?

Thanks

[Andrew Copeland]

Hi all,

Unfortunately, we have not been able to come to an agreement with the merchant regarding the outstanding funds within, what we deem to be, a reasonable timeframe.

As some of the transactions have been outstanding since July, we had therefore issued a payment deadline to the merchant which unfortunately was not met and we have now begun legal proceedings in order to recoup the outstanding invoice amounts.

The program on the network has therefore been closed and, considering the current situation, I do not anticipate it relaunching.

At the moment, I have no further information on the progress of the legal proceedings as this is being dealt with by our solicitors.

However, as soon as any further information is available that I am able to pass on, please rest assured that I will do so.

Again, please accept my apologies for the delay in resolving this matter. We are doing all that we can to ensure that it is dealt with appropriately and in as quick a manner as possible.

If anyone has any concerns, please feel free to contact me and I'll do my best to answer any questions you may have.

Many thanks