This very rarely happens. When you file a chapter 7 bankruptcy you are allowed certain exemptions under the law. While these exemptions are too lengthy to list here, most people are concerned with the car and homestead exemptions.
The Texas motor vehicle exemption is a very generous exemption. It allows for the full value of one car for each licensed driver in your household. And, if a member of your household is not licensed but depends on the vehicle for transportation, that vehicle can be exempted.
The Texas Homestead exemption allows for an unlimited exemption for a home on 10 acres or less in a city, town or village, or 100 acres or less in the country (this is increased to 200 acres for families).
There are numerous other exemptions allowed in a chapter 7 in Texas including (but certainly not limited to) exemptions concerning livestock, jewelry, home furnishings, and fire arms, just to name a few. As you can see, Texas exemptions are quite generous and if you have personal property that exceed these exemptions, you would likely choose to file a Chapter 13 in order to protect these assets. However, it is unusual for an individual / married couple to have assets exceeding Texas exemptions.