When determining whether or not to file for bankruptcy, you should consider whether or not you have the ability to get out of the financial problem you're in within a short period of time. I don't believe that people should have to struggle with debts forever.
The majority of people who file bankruptcy have either suffered a job loss, a major medical issue, or some type of economic downturn that has prevented them from having the income to pay their debts.
If you have been struggling to pay your debts for the past 12 months, you should consider bankruptcy. If you're going to experience unemployment, you should consider bankruptcy. If medical bills are weighing you down, you should consider bankruptcy.
To make the most informed decision, you should talk with a bankruptcy attorney about your specific financial situation.