A buyback plan is done in a Chapter 7 case. If the debtor wants to keep assets over the State’s allowable exemptions, I can negotiate an agreement with the Trustee.  Say, for example, my client is $1000-$3000 over the allowable exemptions and they want to keep those assets whether it be personal belongings or equity in a car. My client could file a Chapter 13 but I would much rather have my client file a Chapter 7 and request that a monthly payment be made to the Trustee after the 341 meeting. The Trustee will then distribute this payment to your creditors and you get to keep your property.