Well first, I strongly recommend that you consult a bankruptcy attorney as there are two forms of bankruptcies for individuals, Chapter 7 and Chapter 13. Chapter 7 is a liquidation of debts while Chapter 13 is a reorganization of debts. It is important that before you file for bankruptcy you consult an attorney regarding the right bankruptcy to file, as filing the wrong type of bankruptcy may have unintended consequences.
It begins with the filing of a petition with the court that discloses all of your income, expenses, assets, and debts; and ends with an order of discharge from the bankruptcy judge stating that many of your debts have been wiped away.