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I think the bad debt is legitimate. I spoke with Jared this morning and he assured me that payments would go out today and that all accounts had been updated and the bad debt factored in.
When I talked to them I felt the same however still had to wonder. I read some interesting things the last few hours about what is going on. I can see where they could even hold back funds to us because of Neteller.
Its all ugly right now..What exactly is “bad debt” and how does it fall on affiliates? I’ve noticed chargebacks skyrocketed this month and more were added on for the previous month. Chargebacks have basically wiped this month clean for me.
You said you were reading some interesting things about what was going on. Links please, I didnt see any in the CC forum.
They still have my payment no sign of it yet!
I’ve been in touch with them for a long time.
Nothing here yet either. I spoke to Jared yesterday and he said, once again, that payments would be going out any moment now. 🙁
He indicated they had received ANOTHER bad debt charge of $100K and that had caused the additional delay as it was reconciled against commissions.
Just spoke to Jared about an hour ago, and he told me that payments would go out on NEXT WEDNESDAY!!
This sucks big time! What surprises me is this bad debt issue never happened before. They told me on tuesday that my payment was sent.
So next Wednesday the 21st?
Jared told me payments went out on Monday, then that got changed. Then he swore they would go out by mid week. Then yesterday he told me the absolute latest they would go out was Monday of next week. Now he tells Liz they are going out NEXT Weds????
This is getting really rediculous :angry: :angry: :angry:
Where does this bad debt show in our reports?
Is it a standard place?
I will be visiting YOUR stats next!
Guys check your Casino Coins Stats this morning. They took a chainsaw to most of us last night!
Yup, it looks haineous. How do chargebacks like this occur on such a wide scale?
Somewhere among the US$55million frozen by Neteller was a significant amount held by online casino properties. Am willing to bet this has caused a serious cash flow problem for many in the industry and it is being especially felt hard by affiliates, waiting for payment, who are getting one run-around after another.
Be patient. Help your program partners get back up on their feet by reducing the heat. Don’t start dropping them and hurting their market exposure even more. In other words, give them some rope.
Can’t say they will ALL recover. But if they were honest and reliable with you in the past, then give them the benefit of the doubt.
Casino Coins, and OTHERS, may be going about this in the wrong way, but bear with them.
BobMcd
Nothing Hurts More than the Truth!Damn Right this is ridiculous!!
Every month for the past 3 I have had chargebacks that exceed the amount deposited in the previous month – So where are these chargebacks comming from? 4 months ago – 3 months ago or 5 months ago???
Whats even more ludicrous is that these chargebacks seem to hit everyone associated with Casino Coins and not just a select few.
How is it possible for EVERY affiliate to have chargebacks??
Rarely have I encountered a chargeback – Let alone 3 months of them.
Somethings gone array – Just exactly what it is – Only Casino Coins knows.
bobmcd wrote:Be patient. Help your program partners get back up on their feet by reducing the heat. Don’t start dropping them and hurting their market exposure even more. In other words, give them some rope.Can’t say they will ALL recover. But if they were honest and reliable with you in the past, then give them the benefit of the doubt.
Bob – you may or may not be right – we of course don’t know – because they have not had the business acumen to provide their affiliate partners with a clear picture.
“give them some rope – give them the benfit of the doubt” …
:crazy:There should be no doubt :
– if they have a cash crunch then they should be seeking additional cash through corporate finance to run their day-to-day business payments.
– if the business is so poorly structured that they cannot finance their business then they should at least be straight up with their affiliate partners and explain the situation clearly.
– we should not be hearing stories, or seeing continual delays and missed deadlines for payments.
Continual defaulting on due payments is no way to run a financial enterprise – and is no way does it engender support from their affiliate partners.
I don’t know who is making the decisions in this case – but whoever it is – they’ve been consistantly poor and are destroying the reputation of the brand amoungst affiliates.
If there is a cash shortage – then the management of Casino Coins (and other affiliate programs) should be putting business plans in place and clearly communicating them … not continually putting up false dates for payment and then failing to deliver.
