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General - Stock Video / Re: Revostock Payments
« on: September 17, 2015, 18:28 »
Mantis/philipus (and just about every disgruntled Revostock producer) are right about the legality of what Revostock has done. Contributor monies (the designated percentage of each purchase price) should have been set aside and not used for Revostock's financial funds.
It's an unfortunate situation, with such an established provider of video content, that they cannot seem to keep their hands out of the Producers' pot (essentially, this is what has caused the entire downfall).
Our position, being owed thousands of dollars right now, means we've had to begin debt recovery proceedings in attempt to recover loss of earnings before Revostock simply decides to fold.
If it helps anyone else, we were advised to create a record of payments (monthly) and to send a business invoice for the amount due. This, to begin the process of recovery. Post or send with email tracking.
Debt recovery is not a pretty process and is generally only used as a last resort (you'll lose a percentage) but with no payment since March, no constructive communication from the company (radio silence) and the prospect of a large amount of money disappearing - we've had no choice.
Currently we're looking to recoup overdue earnings, yet we're still having sales on the site (which means nothing if they're not being paid) so, it's a tricky one to assess. Do you delete your portfolio, having spent so much time uploading, and in the knowledge that Revostock still has a good online presence for buyers?
If only they would keep us informed.
Very frustrating.
It's an unfortunate situation, with such an established provider of video content, that they cannot seem to keep their hands out of the Producers' pot (essentially, this is what has caused the entire downfall).
Our position, being owed thousands of dollars right now, means we've had to begin debt recovery proceedings in attempt to recover loss of earnings before Revostock simply decides to fold.
If it helps anyone else, we were advised to create a record of payments (monthly) and to send a business invoice for the amount due. This, to begin the process of recovery. Post or send with email tracking.
Debt recovery is not a pretty process and is generally only used as a last resort (you'll lose a percentage) but with no payment since March, no constructive communication from the company (radio silence) and the prospect of a large amount of money disappearing - we've had no choice.
Currently we're looking to recoup overdue earnings, yet we're still having sales on the site (which means nothing if they're not being paid) so, it's a tricky one to assess. Do you delete your portfolio, having spent so much time uploading, and in the knowledge that Revostock still has a good online presence for buyers?
If only they would keep us informed.
Very frustrating.