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that depends. a couple things you'd need to consider are whether all of your debt is unsecured (credit card debt, generally) or whether you also have secured debt (mortgage, car) - this, and your goals in filing bankruptcy, will affect which chapter you file in.

another large consideration is what type of exemption your state has for homes. it may be that you are unable to exempt your home because it is worth more than the allowed exemption. in a chapter 7, you'd sell it and keep the value of the exemption. in a chapter 13, you could pay off the difference in value during the length of the plan.

chapter 7 is generally known as the discharge chapter, meaning if your debts are unsecured, they will be eliminated. chapter 13 is the repayment chapter, which allows to pay back only a portion of your unsecured debts and maintain payments on secured debts.

short answer is, talk to an attorney.

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Q: If you have a large balloon payment due in 2 months and 110k worth of credit card debt will you lose the house when you declare bankruptcy?
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