Iowa State University

Inside Iowa State
June 27, 1997

Japanese managers to study consumer debt

by Michelle Johnson

Personal bankruptcies in Japan are soaring and managers in some of Japan's leading financial institutions are seeking help from Iowa State.

Twenty-one managers from the Japanese Consumer Finance Association (JCFA) will attend a workshop on campus June 28- July 5 to get financial counseling advice from a leading expert on the topic, faculty member and consumer economist Tahira Hira.

"In Japan, the availability of financial counseling services is very limited and costly," said Hira. "This workshop is a proactive effort by JCFA members to make services available on a larger scale."

Hira will discuss social and economic factors that lead to over-extension, as well as personal factors, such as consumers' attitudes toward money and spending behaviors. Hira also will discuss strategies for prevention and for intervening with consumers already in financial trouble.

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