Why would you file a Chapter 13 case? There are five reasons. Here’s the first one:
Sometimes your assets have too much value, and if you were to file a Chapter 7 case, then the trustee would sell your assets and you would lose them. Chapter 13 gives you the opportunity, if the price isn’t too high, to buy back the value of your assets from your creditors over a 60-month plan.
This makes it more affordable and more reasonable for you to maintain your assets while you reorganize your debts and get the relief that bankruptcy provides.