Declaring insolvency bankruptcy - role of family members

Hello All, 

Few years back  needed some urgent money so I borrowed money(70,000 Rs) from lenders at 22% per month against blank cheque.

I was unable to back the money with such a high rate of interest, I again borrowed money from other lender, again with blank cheque to pay back my previous loan.

As result I ran into a debt trap. 

Now  have nothing left to pay back the money.

I want to declare myself Bankrupt.

Now my question is how it will effect my children's and wife properties and assets ?(They had no role / co sign in the friendly loans that I borrowed)

Kindly pls guide me what should I do.

Thanks