I knew someone long ago that did and he discovered that he couldn't even rent an apartment with it on his credit. Maybe that's changed, maybe not. He lived in an RV in our back pasture for a while (hubby's friend).
Answer to your question: It depends on your situation. How far behind on payments and in debt are you? What is your biggest concern? Are you doing it to save your home/stop a foreclosure?
My best advice - consult a bankruptcy attorney, give them your situation and see what they suggest.
REMEMBER - A Bankruptcy stays on your credit for 7-10 YEARS and although it may improve your credit initially after it has been discharged, your credit history will reflect bankruptcy semi-permanently until this time frame has elapsed.
Also you have to consider what type of bankruptcy are you able to file. Do you have enough cash coming in to file a Ch. 13 repayment/debt consolidation? Or are you going to challenge all of the debt as "unsecured" in a Ch. 7?
Bankruptcy may be the answer but it depends on your situaiton and the type and age of the debt you are dealing with. Honestly I would need to know a lot more about the situaiton before I could really begin to say very much.
If you post some more info I can give you a basic game plan but I generally have to the people I collect off of that bankruptcy might be the wrong way to go and the nbig reason is that just because you file does not mean you get off scott free... The judge can always say that you case is dismissed and not discharged. If dismissed then everyone comes after you and you are now 2 to 4 months deeper in the hole than when you started.
That I am finding but I am really trying to get people to read some of my suff. I may have only written 1 articleso far and am planning on many more but I wanna see if anyone think my writing style is even worth reading... I guess you could ay I am dying for some feedback