August 2014 – Personal Bankruptcy & Consumer Proposal Statistics


August 2014 - Personal Bankruptcy & Consumer Proposal Statistics

August 2014 – Personal Bankruptcy & Consumer Proposal Statistics

On October 31, 2014, the Office of the Superintendent of Bankruptcy released its most current statistics on personal bankruptcy and consumer proposal filings for Canadian consumer debtors.

Canada – there were 65,732 personal bankruptcies and 51,707 consumer proposals filed in the 12-months ended August 31, 2014, for average total filings of approximately 9,787 per month.  Personal bankruptcies were down 5.5% and consumer proposal filings were up 7.3% as compared to the 12-months ended August 31, 2013.

New Brunswick – there were 2,890 personal bankruptcies and 1,264 consumer proposals filed in the 12-months ended August 31, 2014, for average total filings of approximately 346 per month.  Personal bankruptcies were up 2.3% and consumer proposal filings were up 28.1% as compared to the 12-months ended August 31, 2013.

Nova Scotia – there were 3,546 personal bankruptcies and 1,460 consumer proposals filed in the 12-months ended August 31, 2014, for average total filings of approximately 417 per month.  Personal bankruptcies were up 13% and consumer proposal filings were up 14.1% as compared to the 12-months ended August 31, 2013.

Prince Edward Island – there were 491 personal bankruptcies and 213 consumer proposals filed in the 12-months ended August 31, 2014, for average total filings of approximately 59 per month.  Personal bankruptcies were up 3.8% and consumer proposal filings were up 41.1% as compared to the 12-months ended August 31, 2013.

More detailed statistics are in the following table:


August 2014 Personal Bankruptcy & Consumer Proposal Statistics

August 2014 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; 

  • 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 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.