Hey Daddy and Junior - Don't Forget Tax Time!!!

Great comments from henshelsforjail (love the username) today got me thinking about a potential problem former FNLC'ers may face during the next few months. I'm talking about the possibility of our W-2 forms being delayed or not being sent at all. This was something my team discussed when we were laid off a few months before the company went bankrupt. Given the fact that many of us had problems signing up for unemployment benefits due to erroneous bookkeeping, it wouldn't surprise me if this nasty W-2 business is swept under the rug, at least until the last possible minute.

To put things into perspective, I earned money from four different entities in '07, including a brief stint collecting unemployment after Daddy and Junior sent me on permanent vacation. Not surprisingly, three of the four W-2's have already been sent to me. Guess who the fourth is?

Here's the thing - I don't like to wait until the last minute to file taxes. I either WANT MY REFUND RIGHT NOW or I want to have some time to pay my amount due before April 15th. I imagine many of you feel the same way. Hell, I bet there are some of you that are expecting a refund and could really use the cash since, y'know, First NLC isn't around to deposit that paycheck into your bank account twice a month.

Has anybody received their W-2 yet? Right now, I'm not expecting much, other than one final screw job by Daddy and Junior. On the other hand, at least I didn't foolishly and arrogantly run my company into the ground, so I guess I have that to be thankful for!

The Online Post Mortem

All that's left of firstnlc.com and thelendingcenter.com is this statement:

Due to conditions beyond our control, effective immediately we are no longer taking applications.

Those loans where closing documents have been executed will be funded in the normal manner.

I've pasted a screenshot to capture this moment. I figure the web hosting bill will be due soon, and then there will be nothing - anybody want to buy some domain names?

BANKRUPT!!!!

It's all over. Daddy's and Junior's assets are being liquidated. FBR has declared bankruptcy on its subprime mortgage operations. The deal with Sun won't be closed.

Hey Junior - can't wait to see your resume! If you and Daddy mishandled your personal finances as badly as your business finances, we'll be seeing you in the unemployment line soon enough.

And yeah - I bet you WOULD file for unemployment.

Finally, this three-ring circus has been shut down as the clowns have been kicked to the curb.

HAH HAH HAH!!!

Loads of links:

• Washington Post
• Reuters
• Washington Business Journal
• CNN
• DS News

At last, FBR did "what was required" and cut this sorry company loose. Good-bye and good riddance.

Is There Anybody Out There?

Our friends at the Implode-O-Meter posted an update on the latest misfortunes at Daddy and Junior's Us-First Moneygrab (formerly known as "First NLC"). Apparently, an email was sent out with the following info:

"First NLC (The Lending Center) cut off computer access on Monday night at 7pm EST for all employees. There is no compensation plan in place for 2008. It looks like Tuesday is going to be the day they close up shop. Keep an eye on it early Tuesday, it is probably all over".

Can anybody confirm that this company is finally about to go kaput?