Yes, people go bankrupt for various reasons. Some reasons are more-or-less outside your control (medical costs being number one), many are at least partially within your control.

When you say the government should bail out individuals, you're saying that I should pay for someone's gambling addiction, someone's lack of effort in finding a job after graduating from university with $150K in loans, someone's inability to manage their credit cards.

It's one thing to help people who are in need, something else entirely to help people who are in a bad place because of their own poor decisions.