IF vm is a problem, you would have got a message about it.
Your problem is either software problems, or hardware. Contact your vendor about it. If not, you will have a major job ahead.
The vm settings should be as following:
You should have a fixed size memory setting, usually 1,5 times you ram size. You should have the pagefile on a physical drive that is not used by the OS. Which implies that you should have 2 HDDs. If you don't have 2, it doesn't matter really.
The 1,5 times size ... It is not SHOULD, but rather recomended. Since you have lots of ram, you could try have a smaller pagefile. Anyway, the system notify you if it runs out of memory.