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Have those people actually lost everything or is it just some scheme to pay less?
Bankruptcy is an expensive and not-fun process. Basically, similar to what happens on death all creditors are carefully listed out and prioritized, assets beyond the bare minimum to live are liquidated to pay creditors what they can and of course the bankruptcy lawyers fees don't help with the mountains of debt and costs. Certain debts cannot be discharged through bankruptcy so basically you trash your finances, mental health and credit for a shot at maybe being able to fix your finances with less debt payments
https://apnews.com/article/medical-debt-legislation-2a4f2fab7e2c58a68ac4541b8309c7aa
I'll let you figure it out.
Some people kill themselves (either actively or by refusing treatment) so that their families won’t be in debt and will have a place to live, that’s how lost everything it can get.