On February 28, 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 63,372 personal bankruptcies and 62,506 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 10,490 per month. Bankruptcies were down 0.1% and proposal filings were up 7.4% as compared to the 12-months ended December 31, 2015.
New Brunswick – there were 2,904 personal bankruptcies and 1,538 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 370 per month. Bankruptcies were up 3.2% and proposal filings were up 1.4% as compared to the 12-months ended December 31, 2015.
Nova Scotia – there were 4,191 personal bankruptcies and 1,757 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 496 per month. Bankruptcies were up 14.9% and proposal filings were up 10.9% as compared to the 12-months ended December 31, 2015.
Prince Edward Island – there were 500 personal bankruptcies and 302 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 67 per month. Bankruptcies were down 3.7% and proposal filings were up 5.2% as compared to the 12-months ended December 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 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.