bankruptcy = zero balance in ones account ?

No. Bankruptcy is a legal positioned by the court system. With a zero balance, you sound extremely illiquid. If your liabillities exceed your assets, you would also be insolvent.

Bankruptcy is the last resort only you know whether you go to this route. It doesn't mean you got zero balance account and you can file bankruptcy. Bankruptcy is for people or firms who are unable to pay out all their debts. Bankruptcy can be very useful in resolving financial problems.

You can consult to the bankurptcy Experts and you can file a bankruptcy.
The bankruptcy can give and advice.