assalamu alaikum
You should try your best to pay it. if you can't pay it then you should try your best to obtain forgiveness from your creditors. if you get forgiveness then you won't be held guilty by Allah for it anymore
If you fail to get forgiveness then you still shouldn't despair of forgiveness from Allah. You can pray to Allah for Allah to compensate your creditors from His bounty and forgive you and for Allah to put mercy in your creditors hearts so they forgive you.
Bottom line is, if you've sincerely tried your best all your life to pay off your debts but weren't able to, then do not despair as Allah could forgive you