What is the difference between chapter 7 and 13?

Chapter 13 is a three to a five year payment plan for those who own assets that they would like to keep such as a car or house, that they could not otherwise keep under chapter 7.

Chapter 7-a "liquidation and fresh start"-this is the type of bankruptcy that most clients think about-the end result is a discharge which wipes out most of a persons debts. What property can I keep after I file for chapter 7 bankruptcy? Upto $2,500 of cash, $10,000 of equity in a house, $5,000 of personal property, one (1) car having equity not to exceed $2,400.00 and unlimited pension, IRA or SEP money.