Don Wan

Plans for reorganization of Lapre's companies have included discussions on how to repay his creditors, which include Phoenix-based computer, telecommunications and printing companies, the U.S. Postal Service and the Salt River Project. His largest national creditors are Paxson Communications (owed approximately $900,000) and MCI (owed more than $700,000).

The company's bank-card processing merchant for more than nine years, Electronic Clearing House (ECHO), has lent New Strategies $1 million to get back on its feet. And now the two companies are considering a merger.

Don Lapre's face appears on seemingly every item of literature that leaves his offices.

Don Lapre's face appears on seemingly every item of literature that leaves his offices.

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"The company could just explode," says Lapre. "I spread myself too thin operations-wise, but now I brought in a chief operating officer and a chief executive officer. We're still in bankruptcy mode, but it looks like New Strategies will be back on its feet and will do phenomenally in January."

ECHO is interested in promoting its banking services on Lapre's infomercials.

"There's only one major motivation for a merger, and that's to make money," says ECHO chief executive officer Joel Barry. "And Don's organization definitely makes money. Secondly, his heavy money in media television, which runs from a million to a million and a half a month, is an effort we could piggyback to offer other products to merchants that Don could easily incorporate into his infomercials. It's a cross-marketing effort."

Barry says he has no trepidation about working with a bankrupt company.

"Don's an amazing motivator and he's an amazing creator. The challenge that faces those types of people is getting into the details of day-to-day management, and that's the primary issue here. He's now put together a team that I think is able to handle the day-to-day and allow him to focus on the creative aspects."

As for Lapre, going bankrupt is just another day in paradise.

"I fail at more things than anyone I've ever met," he says. "But I try more things than anyone I've ever met. I'm a good loser."