A Comparison Of Perceptions: Students And Bankruptcy Filers On Causes Of Financial Distress

Abstract

This study compares opinions about the causes of bankruptcy held by students at Texas A&M University –Corpus Christi with those of individuals who have filed for Chapter 13 bankruptcy. Personal bankruptcy affects many Americans and is the source of much controversy. This study should be helpful to creditors, who need to avoid losses from unpaid debts, educators who must be aware of students’ perceptions and misperceptions to effectively teach financial management, and legislators who pass laws on bankruptcy and related topics. Attorneys, accountants, and other financial advisors also need to be aware of signals of financial trouble in their clients.