My friend Jeremy started his web hosting business some months back. He took a huge amount of loan for setting up the infrastructure and borrowing web space for the clients. However, the initial response to his venture was lukewarm and he did not get many customers. However, the running cost was high and every month he had to pay the steep rental to the main web hosting company. This way he ran into considerable amount of debt and could not pay the monthly installments for some months. The loan company started making calls and he found the situation embarrassing.
One day he came to me and asked whether he should give up his effort to stay afloat. I knew that the demand of Internet in his region was picking up so I advised him to seek professional debt solutions. Upon my advice he contacted a reputed debt solution company. It gave him the required debt management help and he cleared the dues accumulated in reduced EMIs as settled by the company. Last I heard from him is his business is running well.