What is a BuyBack?  A buyback is done in a chapter 7 case.  It's were the debtor makes an offer to purchase their unencumbered non-exempt assets back from the Chapter 7 Trustee. When you file chapter 7 you are require to list all your asset.  Your attorney will then put your state and constitutional exemptions on these assets to protect any equity they may have. If they can't be completely protected then the chapter 7 Trustee has the right to sell them to the highest bidder. Generally that is the debtor.  Your attorney will make the offer to buy back the equity in the assets and request  that the payments be made over a period of time. Generally, most trustees will allow 10-12 months with no interest for a buy back.  This way the person isn’t forced to give up their vehicle and or personal belongings that can't be exempt. Please hire an attorney.  The cost of an attorney will likely be less than the value property you lose because you didn’t know the law.