Ask HN: Clients are gone, lots of debt, what would you do?

Last October I left a comfy job at a marketing startup that had become very profitable (Inc 500, NY Times articles, and all that jazz). I had stopped taking classes full time to work with this company, so I never completed my CS degree. After leaving my job, I started my own company to develop some consumer site ideas. My partner bailed early to go to law school, so there was a bit of a gray cloud overhead from the start. In order to get money coming in I began running lead generation and online marketing for a few clients. Over time, that grew to consume my entire working hours. It peaked at about $70k in revenue in July and has been steadily declining from there to a low of $15k in November, thanks to the economy and increased online ad competition. On Monday of this week, without warning, my last two clients pulled the plug due to economic conditions. The deals were profitable, but they had too many account defaults. One client has seen his annual bad debts total double in November.