“Mom, what’s it called again when a business has its trucks taken away?” my 11-year-old called from the living room. “Reposession,” I responded.
My husband had recently explained to our son what happens to a business when it files for bankruptcy. “Their vehicles are repossessed. They’re taken away and sold to someone else.”
The repossession of business assets may not be regular dinner table banter in other people’s households, but in our home, there is no financial topic that is not discussed.
We haven’t filed for bankruptcy, but because of some very bad financial decisions, we very nearly did. By speaking openly about our finances and general…
