On March 31, 2017, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors.
Canada – there were 63,278 personal bankruptcies and 62,849 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 10,511 per month. Bankruptcies were up 0.1% and consumer proposal filings were up 7.6% as compared to the 12-months ended January 31, 2016.
New Brunswick – there were 2,867 personal bankruptcies and 1,588 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 371 per month. Bankruptcies were up 1.4% and consumer proposal filings were up 4.1% as compared to the 12-months ended January 31, 2016.
Nova Scotia – there were 4,224 personal bankruptcies and 1,800 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 502 per month. Bankruptcies were up 15.9% and consumer proposal filings were up 15.2% as compared to the 12-months ended January 31, 2016.
Prince Edward Island – there were 488 personal bankruptcies and 302 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 66 per month. Bankruptcies were down 5.6% and the percentage of consumer proposal filings were unchanged as compared to the 12-months ended January 31, 2016.
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 major 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, no-obligation 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.