October 2018 – Personal Bankruptcy & Consumer Proposal Statistics
On November 23, 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 55,557 personal bankruptcies and 68,816 consumer proposals filed in the 12-months ended October 31, 2018. Personal bankruptcies were down 5.7% and consumer proposal filings were up 8.1% as compared to the 12-months ended October 31, 2017. There were 5,083 personal bankruptcies and 6,558 consumer proposals filed in Canada in the month of October 2018.
New Brunswick – there were 2,251 personal bankruptcies and 2,176 consumer proposals filed in the 12-months ended October 31, 2018. Personal bankruptcies were down 11.5% and consumer proposal filings were up 18.6% as compared to the 12-months ended October 31, 2017. There were 200 personal bankruptcies and 206 consumer proposals filed in New Brunswick in the month of October 2018.
Nova Scotia – there were 3,487 personal bankruptcies and 2,063 consumer proposals filed in the 12-months ended October 31, 2018. Personal bankruptcies were down 11.3% and consumer proposal filings were up 7.7% as compared to the 12-months ended October 31, 2017. There were 310 personal bankruptcies and 204 consumer proposals filed in Nova Scotia in the month of October 2018.
Prince Edward Island – there were 419 personal bankruptcies and 303 consumer proposals filed in the 12-months ended October 31, 2018. Personal bankruptcies were up 4.2% and consumer proposal filings were up 9.8% as compared to the 12-months ended October 31, 2017. There were 34 personal bankruptcies and 30 consumer proposals filed in Canada in the month of October 2018.
October 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;
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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 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.