My parents filed bankruptcy...

So my husband and I had my parents over lastnight and they mentioned something about my loans. And how that a loan under their name was frozen and that i still pay it off but theres no interest. They said they filed for bank rupsy because theres a credit card they had that they have an issue with with the company yada yada, pretty much they couldn't pay it off so they told them they wernt and the company increased their interest rate on purpose and well they filed it. Or however that works. Well my husband just told me now that they have mentioned that and they are struggling to pay their Bills he does NOT what so ever NO acceptance want my parents to get us or our son anything for Christmas. Last year they spent like $200 on each grandchild. So my husband said if they cant pay their bills they will not be buying us gifts that's not fair to them. Now yes I see where he is coming from. I know it will suck to hear that they cant buy anything for their grandson but in a way that's there fault for how they spend money. Now I'll remind you that my husband also grew up with not much gifts around Christmas. And my parents always spent alot of money with us on christmas. So I'm use to alot of gifts they dont mean much to me anymore its al about my son now and christmas isnt just about gifts, we are strong about teaching our son that christmas is more than gifts. But anyway I guess I'm wondering if I could have your opinion. Is my husband being rational?Irrational? I'm frustrated at my parents and the fact that my husbqnd is always so against what everything my parents do and I get it and I see where he is coming from . It's just frustrating it's always something and theres always a fight and it puts tension between us. I'm fine with them not doing gifts. I'm ok with that 100% but I know how they are going to react and feel. And it's just going to be a big fight.... Help??