Several years ago I followed a broker friend's advice and invested though him into a self directed IRA. The first couple of stocks did fairly well and I rolled over my CD's into the account. My problem is this. Two of the stocks have tanked, Fine Holst (FINE)is in reorganization and is not trading. FirstPlus Financial (FP) is trading at around $0.13. These are the only stocks in this account and it has a yearly maintenance fee. The account has a negative balance since I have not payed this years fee. My question is what can or should I do with this IRA? At the time I did not have the investing knowlege that I have now nor was I able to access the resorces that I how have available to me. Is this IRA dead? Should I just let it set to see if the stocks come back. Fine Host is still a viable company and servicing their contracts as far as I know. If I just let this sit then the fees will mount up. Can the broker come after me for the fees or can they close my account taking the stocks.I have posted similar post on the Foolish Question and Investing Beginners Boards with out much of a response. Any help or ideas will be greatly appriciated.
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