The answer to this is absolutely not.  The government views bankruptcy as a way to give citizens a fresh start.  It does this by eliminating debt legally but allowing you to keep property that is essential to you obtaining a fresh start.  The government does not want to take everything from you and make you a public charge, rather, they are interested in forcing the creditors to eliminate the debt without forcing the government to support you.  However, you should know that the government is not going to force creditors to eliminate your debt and allow you to keep luxury items such as fur coats, recreational vehicles, etc.

Statutory Property Exemptions Allow You To Keep Certain Property While Filing Bankruptcy

If the government took all of your belongings, the government would then have to support you.  This is not their goal.  Therefore, they allow you keep things essential to you obtaining a fresh start such as certain retirement accounts, equity in your home, equity in your vehicles, household furniture, tools of your trade, and many personal items.  Arizona provides certain exemptions via statute.  These statutes provide a detailed list of what you are allowed to keep.  When people come to see me and use our services, we provide them with a workbook that, among other things, lists all of their property exemptions.