Yes, generally only one spouse can file an individual bankruptcy case and not involve their spouse. Bankruptcy does normally discharge (i.e. wipe out) balances left after foreclosure sales, credit cards, etc., so it may be a good idea for you. Generally all household income has to be considered, so while your wife does not have to file bankruptcy with you, if she has income it will likely have to be considered in your bankruptcy petition, though this will not cause her to be part of the bankruptcy or make it appear on her credit report at all.
I suggest you consult with a bankruptcy attorney in your area. Many bankruptcy attorneys offer free consultations and can tell you if bankruptcy is your best alternative.
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