You will have to file a plan in the case of a Chapter 13 bankruptcy and indicate how you are going to schedule the payments of your overdue and current debts over a period of next five years. The important thing in this case is the allowance to retain the rights to your property or your car. This would not be possible in other cases. This becomes possible only when you are able to make the promised payments to your creditors. These scheduled payments will in all probability be almost the same as or a little more than the monthly regular payments that you face on the house mortgage or your car loan to make up for the amounts that you may have fallen behind on. You can take a decision to file a plan for Chapter 13 if you have a house that you do not want to lose possession of or if it is a valuable piece of property that is not considered `exempt’. It is also the right choice for you if you feel that you are going to be able to catch up with your overdue payments when given a reasonable time. However, you will have to prove that you have sufficient monthly income to take care of all the necessities after making all the scheduled payments to your creditors as they fall due (see Texas Chapter 13 bankruptcy).