In many cases, you can keep your home and car if you file for bankruptcy, depending on the equity you have in them and the exemptions available under Illinois law.
In Chapter 7, assets can be liquidated to repay creditors, but certain exemptions protect a portion of your property. For instance, for your home, Illinois offers a homestead exemption of up to $15,000 in equity for an individual or $30,000 for a married couple filing jointly. If the equity in your home is within the exemption limit, you may be able to keep it.
In Chapter 13, you can usually keep your home and car as long as you continue making payments under the repayment plan approved by the court.