Im seriously considering for the first time in my life bankruptcy - what should I expect

Location - Sydney

For the first time ever it feels like im drowning in debt. It's so bad I don't ever think i'd be able to get out of it without hitting the lottery or something.

I want to know what to expect if i do declare, surrounding the debt I owe. What happens to my household assets? What happens if i have a court-imposed judgement debt on me, does that go away too? What about tax-debt ? What did life look like after you declared bankruptcy ? What were the consequences?