Chapter 7 is a much faster option. The goal will be to discharge all your unsecured debt such as credit cards and personal loans that are not tied to your property (like payday loans). The exception to this rule might be taxes you owe for the last 3 years (bit more complicated so talk to your attorney) and student loans. If you want to surrender a car or house because you can't afford it, you would discharge any balance you owe after the creditor sells the property.
People in Chapter 7 bankruptcy cannot afford to pay their unsecured creditors any money. Often they are under the average income for their state.
You cannot file a Chapter 7 case if you are behind on your child support/ maintenance payments.
You cannot file Chapter 7 if you are behind on your car or house AND want to keep the property.