First of all, it must be stated that after entering the bankruptcy procedure, the court will appoint the bankruptcy administrator to clean up the creditor's rights and debts and manage the property. If there is nothing left after the existing property has been repaid, it may be declared bankrupt. After being declared bankrupt, you can't manage your own property, all the property must be managed by the bankruptcy administrator, and you must pay the remuneration to the bankruptcy administrator. The declaration of bankruptcy cannot be lifted until all debts have been repaid.

2. If you are declared bankrupt, your divorce proceedings may be affected, and it will also be shown on your credit record, so you can't apply for a loan from the bank, you can't apply for a credit card, and so on. Some laws will also restrict the rights of the bankrupt, such as not being an estate administrator, not being able to register for election, and so on.

3. A bankruptcy petition must be filed with the court of the domicile, with details of the property, creditors and debtors (including the amount, nature of creditor's rights, etc.).

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You can use the house as a mortgage.