If you declare bankruptcy, you will still be liable for some of your debts. Examples of such debts include secured loans (i.e. car loans), mortgages, spousal support payment, child support payment, alimony, debt as a result of fraud, court imposed fines etc. Bankruptcy allows you to eliminate most, if not all, of your unsecured debts, such as credit cards, lines of credit, bank loans, payday loans, and tax debts.