I have to agree with Woody - if you're serious about paying off the debt, you need to reduce the playing budget to expenses only now. Accept the inevitable relegation and increase your chances of saving the club.
When we ran out of money (c. 2007) we had a horrible few seasons and were spanked by all and sundry. It'll hurt, but surely not as much as it will when you don't have a club to support. I hope it doesn't come to that, and wish you the best of luck.