My Rich Uncle Student Loans

Parent Cafe
7

<p>Last I heard, they were filing for bankruptcy.</p>

<p>"The company known as My Rich Uncle, a student-loan business that stopped originating loans in September 2008 because of liquidity problems, listed four times as many liabilities as assets in its Chapter 7 petition, filed Friday in New York City.</p>

<p>Weighed down by debt, MRU Holdings Inc. voluntarily plunged itself into liquidation proceedings. The company opted for the Chapter 7 filing instead of a Chapter 11 filing, which enables companies to reorganize while receiving protection from creditors…"</p>

<p><a href=“http://online.wsj.com/article/NA_WSJ_PUB:SB123423624282666641.html[/url]”>http://online.wsj.com/article/NA_WSJ_PUB:SB123423624282666641.html&lt;/a&gt;&lt;/p&gt;