Problems with booting, no bootable device(possible HDD problem)

I hope I'm posting this in the right category, if not, I apologize. About a week ago my laptop randomly froze, did a restart and got the message: Windows failed to start. A recent hardware or software change might be the cause(and so on). Illustrative image here:

After hours of googling, nothing really took me anywhere, most probable cause seemed to be the HDD full of errors or something.Tried hirensboot CD to use mini win XP, couldnt access my C drive at all. So I did a clean Win 7 install, took really long time to get to the installing part, and everything was okay until yesterday. Pretty much the same thing, froze all of the sudden, and restart took me to a black screen: No bootable device- insert boot disc and press any key.

And the worst part is, that I can't try repairs or clean installs. When I insert the win 7 dvd(that works on other computers as well as it did in mine) at the point where a blue screen should appear with "Install Windows" and other options, another black screen with cursor only appears.

Is the hard drive fried? Motherboard maybe? What is my best course of action as of this point? If I took it to service, what could they charge me from it ( i dont have any friends who's that good with computers). Any help would be very much appreciated.
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More about problems booting bootable device hdd problem
  1. It sounds as though your HDD may be faulty. Try using Windows Check Disk (chkdsk) to find out if it has any bad sectors. See below:
  2. I would try an optical drive bootable disk like KNOPPIX or better yet, start with MEMTEST86 to check your memory, but it of course also tests your optical drive.

    I suspect that your HDD is dying/dead and if the optical boot works and memory is okay, run a drive test on it using the test program for that drive -- which laptop?
  3. Thanks, got a couple of cds and dvds, will try them. Laptop is Emachines E732ZG.
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