Yes, a creditor can go after your wife's assets to satisfy a claim against you. Therefore, if you file bankruptcy, your wife should also file bankruptcy.
Depending on your income and other factors, you may be eligible to file Chapter 7. Chapter 7 bankruptcy is straight liquidation which eliminates certain types of debts. If you are not eligible to file Chapter 7, you can file Chapter 13; however, Chapter 13 bankruptcy requires a plan (budget) for repayment of creditors.
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