When you file BK, you do get to put which creditors you want to cover in it, but it's by no means a simple process. Depends on your financial situation how involved things will get. You need to go through a bankruptcy lawyer without a doubt. You might want to find a loan consolidator to help you out, or contact your credit card companies and tell them that you're in financial difficulty and you need to get assistance from them on lowering your interest rate and setting up payment plans. They'll be happy to work with you. Some sort of payment from you is better than nothing in their eyes. Good luck, and know that you are not alone in your situation! You'd be amazed at how many people have lost everything due to the economic conditions, and are working towards starting over.