October 2016 – Personal Bankruptcy & Consumer Proposal Statistics

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October 2016 - Personal Bankruptcy & Consumer Proposal Statistics

October 2016 – Personal Bankruptcy & Consumer Proposal Statistics

On December 31, 2016, 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 63,620 personal bankruptcies and 62,092 consumer proposals filed in the 12-months ended October 31, 2016, for average total filings of approximately 10,476 per month. Bankruptcies were up 0.5% and consumer proposal filings were up 8.7% as compared to the 12-months ended October 31, 2015.

New Brunswick – there were 2,856 personal bankruptcies and 1,508 consumer proposals filed in the 12-months ended October 31, 2016, for average total filings of approximately 364 per month. Bankruptcies were down 1% and consumer proposal filings were up 1.3% as compared to the 12-months ended October 31, 2015.

Nova Scotia – there were 4,113 personal bankruptcies and 1,743 consumer proposals filed in the 12-months ended October 31, 2016, for average total filings of approximately 488 per month. Bankruptcies were up 13.1% and consumer proposal filings were up 15% as compared to the 12-months ended October 31, 2015.

Prince Edward Island – there were 516 personal bankruptcies and 304 consumer proposals filed in the 12-months ended October 31, 2016, for average total filings of approximately 68 per month. Bankruptcies were up 6.6% and consumer proposal filings were up 5.2% as compared to the 12-months ended October 31, 2015.

More detailed statistics are in the following table:


October 2016 Personal Bankruptcy & Consumer Proposal Statistics

October 2016 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 major 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, 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.