[Toad]

If it was just the bushes that were worn, then there wouldn't be any major issues, as they can be replaced quite simply. However, it sounds to me that your problem is with the bearings... If the bearings are shot, then the wheels will have play in them. You can check this by jacking the rear up, and trying to twist the wheels side to side. They shouldn't move at all. If they do move, then you're in trouble. If the axle is in good condition, then new bearings could fix the problem. However, if the axle is not in good condition, you will be looking at a much bigger issue. The most cost effective solution will be a new axle I'm afraid...