On May 31, 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 63,614 personal bankruptcies and 59,213 consumer proposals filed in the 12-months ended March 31, 2016, for average total filings of approximately 10,226 per month. Personal bankruptcies were down 1.1% and consumer proposal filings were up 8.1% as compared to the 12-months ended March 31, 2015.
New Brunswick – there were 2,828 personal bankruptcies and 1,526 consumer proposals filed in the 12-months ended March 31, 2016, for average total filings of approximately 363 per month. Personal bankruptcies were down 5.6% and consumer proposal filings were up 16.3% as compared to the 12-months ended March 31, 2015.
Nova Scotia – there were 3,760 personal bankruptcies and 1,545 consumer proposals filed in the 12-months ended March 31, 2016, for average total filings of approximately 442 per month. Personal bankruptcies were down 0.3% and consumer proposal filings were up 0.1% as compared to the 12-months ended March 31, 2015.
Prince Edward Island – there were 523 personal bankruptcies and 305 consumer proposals filed in the 12-months ended March 31, 2016, for average total filings of approximately 69 per month. Personal bankruptcies were up 3.6% and consumer proposal filings were up 36.8% as compared to the 12-months ended March 31, 2015.
More detailed statistics are in the following table:
Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of significant financial stress;
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You won’t be stuck in an assembly line process.
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You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.
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We will review your debt solution options, including filing a consumer proposal or personal bankruptcy.
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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. Your unsecured creditors are required to stop contacting you or continuing legal proceedings against you. Contact us for a free consultation.
We offer free consultations to review your financial situation and practical debt resolution options. Contact us to discuss your situation over the phone, a video chat, or in-person in Saint John, Moncton, Fredericton, Charlottetown, Dartmouth, or Miramichi.