July 2014 Bankruptcy & Consumer Proposal Statistics

On September 30, 2014, the Office of the Superintendent of Bankruptcy released its most current statistics on personal bankruptcy and consumer proposal filings for Canadian consumer debtors.

Canada – there were 66,441 personal bankruptcies and 51,520 consumer proposals filed in the 12-months ended July 31, 2014, for average total filings of approximately 9,830 per month.  Personal bankruptcies were down 4.8% and consumer proposal filings were up 7.2% as compared to the 12-months ended July 31, 2013.

New Brunswick – there were 2,880 personal bankruptcies and 1,247 consumer proposals filed in the 12-months ended June 30, 2014, for average total filings of approximately 344 per month.  Personal bankruptcies were up 2.0% and consumer proposal filings were up 28.2% as compared to the 12-months ended July 31, 2013.

Nova Scotia – there were 3,550 personal bankruptcies and 1,486 consumer proposals filed in the 12-months ended July 21, 2014, for average total filings of approximately 420 per month.  Personal bankruptcies were up 14.3% and consumer proposal filings were up 18.9% as compared to the 12-months ended July 31, 2013.

Prince Edward Island – there were 474 personal bankruptcies and 212 consumer proposals filed in the 12-months ended July 31, 2014, for average total filings of approximately 57 per month.  Personal bankruptcies were up 1.9% and consumer proposal filings were up 52.5% as compared to the 12-months ended July 31, 2013.

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; 

• You won’t be stuck in an assembly line process. 

• You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.  

• We will review your debt solution 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. 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.