Laura, the simple truth to your 'position' is that you are in a bankrupt situation or in other words, your debts exceed your assets and you currently have no realistic way of paying those debts back.

To declare yourself bankrupt would involve you going to your local court and completing the necessary documentation. This would also involve a fee (about £600 I believe). As you no doubt do not have this sum of money I would suggest that you write to your bank and credit card company. Tell them your exact circumstances and suggest that they may care to bankrupt you (this would save you the fee). They may very well write you off as a 'bad debt' though and NOT bankrupt you as it would involve them in losing even more money on you.

If you do go/are made bankrupt it only last for 12 months and IS NOT the end of the World for you. Thousands of people go bankrupt every year and survive it. If you are unsure of which course of action to take you could always make an appointment to see a debt counsellor at your local Citizens Advice Bureau (CAB office) for a free chat and consultation.

Whatever you decide, the very best of luck to you and your husband.