Canada – Personal bankruptcies were down 6.5% and consumer proposal filings were up 2.6% as compared to the 12-months ended August 31, 2016. New Brunswick – Personal bankruptcies were down 6.5% and consumer proposal filings were up 21.7% as compared to the 12-months ended August 31, 2016.
Tag: bankruptcy pei
July 2017 -Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.7% and consumer proposal filings were up 3.4% as compared to the 12-months ended July 31, 2016. New Brunswick – Personal bankruptcies were down 5.9% and consumer proposal filings were up 20.5% as compared to the 12-months ended July 31, 2016.
June 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.9% and consumer proposal filings were up 2.4% as compared to the 12-months ended June 30, 2016. New Brunswick – Personal bankruptcies were down 7.1% and consumer proposal filings were up 14.4% as compared to the 12-months ended June 30, 2016.
May 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 4.9% and consumer proposal filings were up 4.1% as compared to the 12-months ended May 31, 2016.
New Brunswick – Personal bankruptcies were down 6.2% and consumer proposal filings were up 13.8% as compared to the 12-months ended May 31, 2016.
April 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 3.7% and consumer proposal filings were up 5.1% as compared to the 12-months ended April 30, 2016.
New Brunswick – Personal bankruptcies were down 2.9% and consumer proposal filings were up 9.4% as compared to the 12-months ended April 30, 2016.
The New Debtor Prison
We have found that a new form of debtor prison exists and this is due to excessive phone calls, emails, text messages and mail from creditors and collection agencies. These tactics can leave a person feeling afraid to answer their own phone and for some, it can cause undue stress and anxiety which can negatively affect their everyday life and ability to function at work.
January 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were up 0.1% and consumer proposal filings were up 7.6% as compared to the 12-months ended January 31, 2016.
New Brunswick – Personal bankruptcies were up 1.4% and consumer proposal filings were up 4.1% as compared to the 12-months ended January 31, 2016.
December 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 0.1% and proposal filings were up 7.4% as compared to the 12-months ended December 31, 2015. New Brunswick – Personal bankruptcies were up 3.2% and proposal filings were up 1.4% as compared to the 12-months ended December 31, 2015.
November 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – 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 – Personal bankruptcies were up 0.7% and consumer proposal filings were up 1.8% as compared to the 12-months ended November 30, 2015.
What is a Deemed Trust?
In a bankruptcy, amounts owing for GST/HST and the employer portion of CPP and EI, and penalties and interest on these amounts are unsecured claims, ranking the same as all other general creditors of a debtor. However, before bankruptcy occurs, CRA may obtain a lien or charge (be filing a memorial judgment) against the real or personal property of a debtor, CRA will be a secured creditor.