Wife has CC debts. Can they take our paid off car?

My wife and I have been paying every bill on time for te past 10 years. Last year we had a second child and bills started to add up. Not only that, but I am still a graduate student and therefore get paid very little, barely to live. Also, in 2008 I had 2 surgeries and ended up in the ICU for 3 months and it took 6 months for recovery. My wife doesn't work. My wife have a lease which will end in Oct 2011. She never missed a payment. I have a car but I put both of our names on it. Purchased it in Jan 2010 cash money. I have always had enough money for a nice dependable car and always kept the money moving from one vehicle to another, so this was my real savings. Now we are in the hole, about $30K or so. She does very little work online as a tutor, and my income is still fixed, at least until I get my PhD sometime next Spring-Summer. We have no choice but to MISS next month's payments for all credit cards. I was helping paying all cards on time, never missed one payment. My question is: since I can't afford to do a repayment plan or a settlement, I will have to let the situation rolls on it's own. Two questions: can CC companies have access to my very little cash saving from the bank? Both names on the account. If so, when? After a court judegement? Second: Can a judgement make me sell my car? Even though both names are on title. I will remove her name next week just in case, even though this is very early in the process. Any suggestions will be great.