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Don't do it.
Unless we're missing more information about your big picture, it doesn't sound like you're in that much trouble. Bankruptcy is a last resort. You have a good credit rating. Congratulations, you're doing better than many out there. Why would you want to bungle that up with a bankruptcy?
Bankruptcy is something that takes a long time to recover from, and in the meantime it will cripple you financially, limiting certain freedoms you might currently enjoy. Think of it this way: What if down the road you decide you want to apply for a mortgage? If you go ahead with the bankruptcy, it won't likely happen for years.
$20,000 is not a large debt. If you are renting and make decent money and (will eventually) own your car, you just might be in good shape to tear the crap out of your debt. What other debts do you have? What is your income level? Determine your debt-to-assets ratio, or your debt-to-income ratio before making any decisions.
Do you have creditors nagging you? If not, you shouldn't even be thinking of bankruptcy.
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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön
Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot
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