I have lost my job and prospects are limited. If I have to file for bankruptcy whay can I expect to happen? I want to go into this with as much knowledge as possible.

The first thing you should do is talk with a bk attorney. The laws were changed a few years ago and you have to see if you qualify for chp 7 or 13.You will have to take a credit counsleing class and you will have to list all your debts,what you have in the bank,etc. A bk attorney will be able to advise you of everything you to know