Win ME Freeze After BIOS

I have an old Toshiba Tecra laptop. It has a 266mhz processor and 128 megs of RAM. I had this laptop tweaked out and it was not giving me any problems, it even booted up with 99% free system resources (a miracle for Win ME). But now I cannot get past the Windows ME splash screen. I boot through the Toshiba BIOS and it just sits on the splash screen for ME. I ran scandisk using a win98 boot disk and was able to correct a few problems. The problems all involved directory sizes being reported incorrectly. However, it still will not boot. I went into DOS and was able to extract the files I desperately needed. I was also able to delete quite a few directories that I did not need. It still will not boot. I have come to the conclusion that I have corrupted FAT tables. Does anyone agree or disagree? If it is the FAT tables, does anyone know what to do to resolve the issue? If it's not the FAT tables what could it be? I have a friend who has WIN 98 on a laptop doing the exact same thing. Any ideas would be greatly appreciated.