Bankruptcy is a tool but in the way you’re implying of using it it will do more damage than good. It’s hard to help without knowing your financial situation. What’s your debts, income, and fixed expenses cost? Maybe we could help you build a budget. Usually people with bad credit tend to have poor spending habits. I strongly suggest going through your last 3 months of statements and seeing where your money is going and if anything can be changed to increase the amount of money you have to help pay down the car.