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Thursday, September 15, 2011

Troubles for "Troubleshooter" Tom Martino – he files for bankruptcy protection

bankruptcy He's well-known for his consumer advocacy shows and his knowledge of finances and business. However, even the man known as the "Troubleshooter" has had his troubles during the recession. Tom Martino, who still has a TV show and radio show in Denver on KHOW-AM (630), announced he has filed for personal bankruptcy protection. In his filing, Martino listed assets of $1.37 million and liabilities of over $78 million. The Denver Post reports that Martino was unable to finance short-term real estate loans, and the value of properties he owned plummeted during the recession. Martino tells the newspaper, "There are so many people in this same boat. You've got millions of dollars in lost value and all of a sudden you can't refinance your loans and you are just upside down. I just don't know what I could have done."
Tags: KHOW, Tom Martino

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