July 2016 – Personal Bankruptcy & Consumer Proposal Statistics

On September 30, 2016, the Office of the Superintendent of Bankruptcy released its most current statistics on personal bankruptcy and consumer proposal filings for Canadian debtors.

Canada – there were 63,628 personal bankruptcies and 60,849 consumer proposals filed in the 12-months ended July 31, 2016, for average total filings of approximately 10,373 per month. Personal bankruptcies were down 0.4% and consumer proposal filings were up 7.8% as compared to the 12-months ended July 31, 2015.

New Brunswick – there were 2,843 personal bankruptcies and 1,455 consumer proposals filed in the 12-months ended July 31, 2016, for average total filings of approximately 358 per month. Personal bankruptcies were down 4% and consumer proposal filings were up 1.2% as compared to the 12-months ended July 31, 2015.

Nova Scotia– there were 3,973 personal bankruptcies and 1,640 consumer proposals filed in the 12-months ended July 31, 2016, for average total filings of approximately 468 per month. Personal bankruptcies were up 7.1% and consumer proposal filings were up 8.9% as compared to the 12-months ended July 31, 2015.

Prince Edward Island – there were 490 personal bankruptcies and 303 consumer proposals filed in the 12-months ended July 31, 2016, for average total filings of approximately 66 per month.  Personal bankruptcies were down 4.3% and consumer proposal filings were up 11.8% as compared to the 12-months ended July 31, 2015.

More detailed statistics are in the following table:

Powell Associates Ltd. is a Licensed Insolvency Trustee, a small firm of experienced, hands-on insolvency practitioners; you won’t get stuck in an assembly line process. You will expect and receive prompt responses and resolutions of issues from our supportive and experienced team.

We will review your debt solutions options, including filing a consumer proposal or personal bankruptcy. We help Canadians with overwhelming debt get fresh financial starts.

Once you file a consumer proposal or personal bankruptcy, we deal directly with your creditors on your behalf and unsecured creditors are prohibited from contacting you or continuing legal proceedings against you. Contact us for a free, no-obligation consultation.

We offer free consultations to review your personal financial situation and practical debt resolution options. Contact us to discuss your situation over the phone or book an appointment to meet us face-to-face in Saint John, Moncton, Fredericton, Charlottetown, Dartmouth, or Miramichi – it’s your choice.