Personal Loan Debt

I took out a personal loan when we needed to have our roof repaired and a new conservatory built but we never expected to get into debt. The loan was for $50000 and it was through a high street bank, which meant we weren’t paying high interest or charges on it every month. The repayment was over 2 years and was within our budget, however, we couldn’t have foreseen the additional problems we were about to face. Personal loan debts experience the workmen had quoted us $10,000 to fix our roof which was badly damaged but once work began they found additional problems such a water damage. This meant were had to borrow an extra $15,000 which we hadn’t budgeted for and we weren’t sure how we were going to repay it. We had asked to extend the loan and explained our situation to the bank however they seemed unsympathetic with our problem. Despite our finances being strained, by the time all the work was complete on our house we had only defaulted once. A friend suggested we should take out a consolidation loan which would be paid over a longer period of time, however, we were refused. The financial collapse meant even though our credit rating wasn’t too bad our default on the loan and our mortgage meant banks wouldn’t lend to us. We couldn’t continue to manage the monthly repayments and eventually we defaulted for the second time which meant additional charges. We end up in such situation that I can't handle the stress anymore I started to have health problems as well. Some suggest go and visit some licensed insolvency trustee maybe they can help you with debt, I don't know what to do? Is it right decision can they help me out?