When you file for bankruptcy, you're not allowed to pick and choose which creditors you'd like to give preference to; all creditors have equal claim. As part of the papers you file, you must list all your creditors and all your debts, excluding daily necessities. After you've filed the papers, your creditors will be notified to attend a meeting. They'll elect a trustee, who'll take over all your assets. The trustee also has responsibility to collect payments from you or liquidate your assets and will distribute the proceeds to your creditors. You must cooperate with the trustee, including attending the creditors' meeting, furnish all documentation about your debts, and file a complete list of your assets and liabilities. The trustee will designate your secured, unsecured, and partially secured creditors. If you don't fully list your creditors, not only could your case be dismissed, you could be subject to criminal prosecution. Be sure to discuss with an attorney any particular matter you're not sure of, as well as obtaining information on paying creditors if you go ahead with filing for bankruptcy.