Bankruptcy is a last resort to your debt problems. Oh yes, you CAN file whenever you want, if you qualify, but as said - it ruins your credit big time.

Keep in mind that good ol Uncle Sam won't allow to bankrupt out of debts owed to the GOVT, normally.

Bankruptcy is for people who just do not have any other choice. It sounds like you are in a bit of a rut but it is probably not a good idea to just pull the plug, not yet anyways