May 2018 – Personal Bankruptcy & Consumer Proposal Statistics

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May 2018 - Personal Bankruptcy & Consumer Proposal Statistics

May 2018 – Personal Bankruptcy & Consumer Proposal Statistics

On July 31, 2018, 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 56,238 personal bankruptcies and 66,455 consumer proposals filed in the 12-months ended May 31, 2018.  Personal bankruptcies were down 7.8% and consumer proposal filings were up 5.7% as compared to the 12-months ended May 31, 2017.  There were 5,262 personal bankruptcies and 6,138 consumer proposals filed in Canada in the month of May 2018.

New Brunswick – there were 2,290 personal bankruptcies and 2,031 consumer proposals filed in the 12-months ended May 31, 2018.  Personal bankruptcies were down 16.0% and consumer proposal filings were up 20.2% as compared to the 12-months ended May 31, 2017.  There were 211 personal bankruptcies and 209 consumer proposals filed in New Brunswick in the month of May 2018.

Nova Scotia – there were 3,600 personal bankruptcies and 2,005 consumer proposals filed in the 12-months ended May 31, 2018.  Personal bankruptcies were down 12.6% and consumer proposal filings were up 5.4% as compared to the 12-months ended May 31, 2017.  There were 349 personal bankruptcies and 187 consumer proposals filed in Nova Scotia in the month of May 2018.

Prince Edward Island – there were 426 personal bankruptcies and 291 consumer proposals filed in the 12-months ended May 31, 2018.  Personal bankruptcies were down 5.1% and consumer proposal filings were down 3.6% as compared to the 12-months ended May 31, 2017.  There were 44 personal bankruptcies and 25 consumer proposals filed in Canada in the month of May 2018.


May 2018 - Personal Bankruptcy & Consumer Proposal Statistics

May 2018 – Personal Bankruptcy & Consumer Proposal Statistics

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.