Need to file bankruptcy, help with details!

Hi,

Let me know the details of bankruptcy. I am in such a situation, I couldn’t handle the debts in any other way. But, I am still not able to make the final decision as I have no idea on the formalities related to it.

And I have noticed some cons of bankruptcy in my search. They are:
1. Lose of all credit cards.
2. Will have to explain to a judge or trustee how got into a financial mess.
3. Bankruptcy will make it nearly impossible to get a mortgage if don't already have one.

So, I would like to know if there are any eligibility criteria for getting approved for a bankruptcy. And in case, if we need to take a mortgage in the future, do we have an option?

I have seen some Etobicoke bankruptcy companies , but I fear whether I would get into another trouble if go for bankruptcy. So, please let me know the details you know. Awaiting reply. Thanks in advance!