Is filing bankruptcy really all that bad??

My husband has been in the hospital 5 times since February. We do not have medical Insurance because of many reasons. When he was in the hospital the only way the family could survive without his income was to put everything from groceries to CIPS on the credit cards because we had no income coming in. Now that he is back to good health and we are both working we still don't make enough to pay off all these bills. We tried filing for state aid to help with the medical but we were denied. The medical bills alone are over 40 thousand and the credit cards are probably around another 10 thousand. What should we do? If we file will we loose our house and car too? I would like to just erase the medical and credit card debt but keep some other small loans that we have. Is this possible?