Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
You certainly have the option to file a Chapter 7 bankruptcy, which will liquidate your assets and discharge your debts. You'll essentially get a fresh start. The downside is that bankruptcy stays with your forever and will effect your credit/ability to borrow for no less than 5 years.
My suggestion is to try and work out payment plans with all of the creditors. If you cannot work this out, then consider filing Chapter 7.