On January 31, 2017, 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 63,966 personal bankruptcies and 62,607 consumer proposals filed in the 12-months ended November 30, 2016, for average total filings of approximately 10,548 per month. Personal bankruptcies were up 1% and consumer proposal filings were up 8.4% as compared to the 12-months ended November 30, 2015.
New Brunswick – there were 2,880 personal bankruptcies and 1,535 consumer proposals filed in the 12-months ended November 30, 2016, for average total filings of approximately 368 per month. Personal bankruptcies were up 0.7% and consumer proposal filings were up 1.8% as compared to the 12-months ended November 30, 2015.
Nova Scotia – there were 4,204 personal bankruptcies and 1,751 consumer proposals filed in the 12-months ended November 30, 2016, for average total filings of approximately 496 per month. Personal bankruptcies were up 14.8% and consumer proposal filings were up 11.5% as compared to the 12-months ended November 30, 2015.
Prince Edward Island – there were 508 personal bankruptcies and 310 consumer proposals filed in the 12-months ended November 30, 2016, for average total filings of approximately 68 per month. There was no change in the number of personal bankruptcies and consumer proposal filings were up 6.2% as compared to the 12-months ended November 30, 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.