Attitudes And Assets: An Investigation Of The Causes Of Personal Bankruptcy

Abstract

This descriptive study focuses on Chapter 13 bankruptcy filers in South Texas. Our survey asked respondents to identify the main reasons for the financial problems that lead to declaring bankruptcy. We also asked questions about certain attitudinal factors that may have contributed to their financial difficulties: what income they believed they needed to live comfortably, their opinions about credit card debt, and the relationship between money and happiness. Our study identifies issues that should be considered by creditors, legislators, professional advisors, and educators to help persons avoid bankruptcy.