It is important to note the differences between Chapter 7 and Chapter 13 bankruptcy before deciding which to use. Chapter 13 reorganizes your debt, meaning you still pay what is owed, but over a period of time and through your regular income without giving up your assets. Under Chapter 7, most qualified debts are waived after a liquidation of assets. So for individuals who have a consistent income and who wish to keep their home or car, Chapter 13 may be the best option. However Chapter 7 may be preferred for those who want to cut down significantly on their debt without the continued burden of monthly payments. The choice largely depends on the details of your case, including the needs of yourself and your family. It is important that you do not make a decision like this without the input of an attorney.