There are many advantages to each form of bankruptcy. The Chapter 13 advantages are: the retention of most assets, it can be filed more frequently, and it is more likely that you will keep your home. Some Chapter 7 advantages are that the cases are quicker (months as opposed to years), the discharge of nearly all debts and it is a much better option for those with few assets. Often it is best to consult with an attorney well versed in bankruptcy law to determine the best option for consumers.