Please help - crisis stage

Ade704

Hi all.

I've got myself into a real mess but more importantly, my parents have been dragged into it too. I set up a new company 5 years ago and I have gradually put everything into it. In addition, because I had a well-paid job before, I have been able to take out some large loans and I've also taken out various credit cards that are now all pretty much maxed. This was all on the basis that the company would take off, but our suppliers have hit delay after delay and it is getting the point where I can't wait much longer. My father works with me and has made similar sacrifices. He and my mother have racked up credit card debts and loans but he has also put his nest-egg piece of land on the table too - it secures the business overdraft with the bank. In other words, everything rides on the success of the company.
The problem is that our personal monthly outgoings are now more than the company can afford. I am not too bad - if everything goes pear-shaped, I am only 36 and I've just got married to a wonderfully supportive woman who has a well-paid job. I've been advised by a friend who went bankrupt a couple of years ago that I could basically wipe the slate clean without really affecting my wife (the house is in her name and all debts are in mine) and I am young enough to start again. But it is my parents that I am really worried about - they will lose everything. Their nest-egg will be swallowed by the bank, their house will go and they are both approaching 70. The knowledge that they could end up with nothing is killing me.
The really really frustrating thing is that if the credit card debts could be changed into loans, then we could probably squeeze through. We can't get any new cards to do the transfer 'shuffle' and their house is mortgaged up to the hilt. But if the credit card companies would agree to change the debts into loans, even if the rate was 10%, it would make a huge difference and we could probably survive.
The question is, will the credit card companies negotiate, if so, how do we go about it? I am wary of contacting them in case it sets any alarm bells off but I would have thought that from their point of view, if they knew we were going to go down as the situation stands, but that we could survive if the interest rates were cut, then in theory they should at least consider it. Any help or advice would be really appreciated. I am at my wits end!
Thanks a lot, Ade