Bankruptcy doesn't mean you have to turn in the vehicles.
They just become the sole obligation of your wife if she's the other person listed on the loans. Your name would still be on the titles and you could keep paying on those and get the title in the end while the unsecured debt (personal loans, credit cards, and so on) goes bye bye.
It would likely be best that you did not re-affirm any debt related to the vehicles or your part in this liability mess could survive the bankruptcy without you being eligible for another discharge for eight years.
In fact, having your wife's name on the titles severely complicates the trustee's job of trying to seize even if you can't exempt enough of the car's value, because your wife has equitable interest in the property. It would be tantamount to stealing from a non-bankrupt debtor.
You'd just have bad credit for a few years.
Depends on your state exemptions and how much of the loan is actually paid/equity you actually have as to if the trustee could place your house in jeopardy or not. Normally, your wife won't need to file bankruptcy over your debts unless you live in a community property state or there's just no other way to exempt the full amount of the house (or at least enough that the trustee isn't going to take it).
Many bankruptcy attorneys do a free consult and I think it's an option worth considering if your situation has deteriorated to the point where it's hopeless and this is the only option for a quick turnaround. Just realize that you won't be taking on a lot of debt again for a while most likely, but do you really want to?
In the future, I would advise not signing any more loan agreements that assume your job and income will remain steady. It seems like your employer has cut your income several times already and is a fair bit of economic trouble themselves, that or they sometimes do this to start giving someone "the hint" that it's time to "resign", and then they don't owe UI. Either way, it's never a safe assumption that your income today will continue unchanged.
As for creditors, they just do what creditors do. Load you with as much debt as they can legally justify. They love car and house loans because most people will go without food before they lose those, so they only have to repossess sometimes. Loans are essentially "stealing from your imaginary future income". They assume that life and the world exist in a steady state. So unless you have a crystal ball with you in the finance room, you should be wary of long term commitments.
As with everything in life, you have to watch out for these people because they're not in your corner. You have to pick your battles and know when to take calculated risks and when to show restraint, and if all you're doing is taking on loans because "I want, I want, I want." you become very exposed.
Sometimes I see things, on Facebook, that make me fully cognizant of how people out there behave with money. The other day, someone was actually begging for money so they could make a down payment on a 30 year mortgage. They can't even go out and work and save that much, and they expect other people that are caught up in trench warfare against the banks, making their own payments so they don't lose their houses that month, are going to go for this.
Or a guy I know in San Francisco where he said "Oh I make a lot of money." at one of those tech companies that makes no money and is a cash furnace running on loans itself, with no profit. So he goes and gets himself a $3 million mortgage and then another one for a cabin with wildfire damage out in some park where the wildfires even melted the phone lines and he can't get a phone and now he thinks the California government will make AT&T build 7 miles of copper lines under "carrier of last resort" and that's not what this is.
Sometimes, you just want to know, morbid curiosity, what went through these people's minds that made them think financing all this stuff on an iffy job was a good idea. I mean, this is like "invading Russia in winter" bad.
