I expect a huge judgement to be entered against me?

Find a bankruptcy attorney and talk to them....you can get a free consultation.

Don't despair. Rather try to work on and improve the situation. You can take the help of an attorney. As for your home and car, if the worth of your home is not enough to pay for the judgment amount, the cars can be taken away too. If possible, you can try to get an out of court settlement but your best option would be to get help from an attorney.

Oh God!! You are in a terrible situation mate. Don't think about death now. I am sure you are a brave guy.

Do you live in a community property state? If yes, then she will be equally liable for the debts. If the creditors/collectors get a judgment against you, then they can garnish your wages/bank account. They can even impose a lien on your car and home. Check your state wage garnishment laws.

I really hope that the creditors/collectors don't get a judgment against you.

Listen, home ownership isn't worth your despair. If you have a lot of equity in your home, you might want to consider selling it, and settling this debt with the creditor. If you don't have sufficient equity, contact a bankruptcy attorney; bankruptcy is not the end of the world. As a matter of fact, bankruptcy has proven to be a fresh start for a lot of people. Again, settlement is always a possibility, too, but it depends on where or how you can access enough money to offer as settlement.

Yes, you will own a home again in the future. Focus on putting this behind you, and then you can begin saving for a down payment on a home.

Best of luck to you!

As others have said, contact an attorney. I know crazy stuff goes through ones mind in these types of situations, but what help would that be, that is a cowardly act.

For what its worth, in my state, an "unsecured" creditor cannot force the forclosure of a home, just put a lien on it. Im sure you will feel better once you speak to someone and explore your options.

I wish you the best of luck.

I totally agree that you need to consult an attorney. With that level of debt on the line, you can be assured that they will pursue agressive litigation.
Without knowing the details of your situation, there are issues that need to be investigated that, unless you know debt collection law, need to be reviewed by an attorney. What, for example, is the status of your state statute of debt repayment limitations on all or any portion of the debt? Who were the signatories to each debt, and how does state community property law affect obligation of a spouse for each specific type of debt? Those are questions that need legal advice.