A 1994 national study examined the perceived impact of mandatory counseling for bankrupts in Canada, using a sample of 200 bankrupts matched with their trustee or counselor. Most bankrupts felt they received considerable or extensive benefit from counseling while trustees tended to have a more moderate outlook regarding the benefits. There was congruency between both parties on what happened in the counseling sessions but less agreement on the extent of discussion of the causes leading to insolvency and legal and non-legal alternatives. This research provides baseline data on the experience and perceptions of consumer bankrupts, trustees, and private counselors in Canada. Key Words: Financial counseling, Insolvency, Bankruptcy, Canada

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