I am not a lawyer and I am sure others can give more complete knowledge, but here goes.
Use this as an absolute last resort. It will kill your credit rating for 10 yrs. It will be next to impossible to buy a car, or a house, or much of anything without cash during that time.
You debts are not completely forgiven in most cases. Usually there is some money that is coming in, so I believe that the judge will award the creditors with some sort of payment plan. They may not get all their money, but they will get as much as they can. I am not sure about winning money, but I would not count on it.
Consumer Credit Counseling will offer for free to help you get you debts under control.
Here is a link to one I found, there are branches in most every area.
They can often help you with negotiating with your creditors and not have to file for bankruptcy.
Check it out for more information.