Debtor in possession

A debtor in possession is like a grown-up who owes some money to other grown-ups. But instead of just hiding from the people they owe money to, the grown-up who owes money gets to keep control of their things and try to pay back the money they owe while they figure out how to get back on track. It's like the grown-up is taking care of their own money problems instead of having someone else take over. This is called being a "debtor in possession." It's kind of like if you were playing a game and you were running low on points, but instead of quitting the game, you got to keep playing and try to earn more points to make up for what you lost. Being a debtor in possession is a way for someone who owes money to try to fix things themselves without giving up control.