An excellent post by Oklahoma Bankruptcy Attorney Dan Nunley about 3 common myths of bankruptcy.
Bankruptcy is a very misunderstood area of law.  It is extremely important to get competent legal advice about your options and rights in regards to your debts.  Do not delay.  Do not rely on what your neighbor, co-worker or friend who filed bankruptcy tells you.  It is very likely their situation is very different from yours, possibly even in very subtle ways.  Get your own legal advice.  Most bankruptcy attorneys will give you a short consultation for free… take advantage of it.