Bankruptcy Troubles for NWA Marketer

A Rogers businessman recently filed for Chapter 7 bankruptcy protection and listed $1.2 million in debts.

Timothy Salmonsen, who was an owner of Trendsetter International Marketing Inc., reported only $206,000 in assets.

Salmonsen's attorney, Robert Teague of Rogers, said a combination of personal as well as business debts caused the bankruptcy.

One of the assets Salmonsen listed was a possible lawsuit against his ex-business partners, but the lawsuit didn't name the partners. Trendsetter was a wholesale distributor that operated between 1996 and February 2007.

The filing showed the business has no assets against debts of $90,000.

The largest unsecured claim in Salmonsen's bankruptcy is held by the Bank of Oklahoma in Tulsa for $180,000 for the first mortgage on a Pea Ridge home that was foreclosed on in January.

Salmonsen reported making $80,000 in 2006 and $70,000 in 2007.

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