On April 30, 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 62,502 personal bankruptcies and 62,829 consumer proposals filed in the 12-months ended February 31, 2017, for average total filings of approximately 10,444 per month. Bankruptcies were down 1.6% and consumer proposal filings were up 6.4% as compared to the 12-months ended February 29, 2016.
New Brunswick – there were 2,818 personal bankruptcies and 1,576 consumer proposals filed in the 12-months ended February 28, 2017, for average total filings of approximately 366 per month. Bankruptcies were down 0.5% and consumer proposal filings were up 1.8% as compared to the 12-months ended February 29, 2016.
Nova Scotia – there were 4,162 personal bankruptcies and 1,813 consumer proposals filed in the 12-months ended February 28, 2017, for average total filings of approximately 498 per month. Bankruptcies were up 12.7% and consumer proposal filings were up 16.8% as compared to the 12-months ended February 29, 2016.
Prince Edward Island – there were 469 personal bankruptcies and 307 consumer proposals filed in the 12-months ended February 28, 2017 for average total filings of approximately 65 per month. Bankruptcies were down 10.3% and consumer proposal filings were up 0.3% as compared to the 12-months ended February 29, 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;
-
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.