December 2017 – Personal Bankruptcy & Consumer Proposal Statistics
On February 28, 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 57,969 personal bankruptcies and 64,229 consumer proposals filed in the 12-months ended December 31, 2017. Personal bankruptcies were down 8.5% and consumer proposal filings were up 2.8% as compared to the 12-months ended December 31, 2016. There were 4,142 personal bankruptcies and 4,449 consumer proposals filed in Canada in the month of December 2017.
New Brunswick – there were 2,457 personal bankruptcies and 1,904 consumer proposals filed in the 12-months ended December 31, 2017. Personal bankruptcies were down 15.4% and consumer proposal filings were up 23.8% as compared to the 12-months ended December 31, 2016. There were 189 personal bankruptcies and 162 consumer proposals filed in New Brunswick in the month of December 2017.
Nova Scotia – there were 3,807 personal bankruptcies and 1,917 consumer proposals filed in the 12-months ended December 31, 2017. Personal bankruptcies were down 9.2% and consumer proposal filings were up 9.1% as compared to the 12-months ended December 31, 2016. There were 259 personal bankruptcies and 113 consumer proposals filed in Nova Scotia in the month of December 2017.
Prince Edward Island – there were 387 personal bankruptcies and 286 consumer proposals filed in the 12-months ended December 31, 2017. Personal bankruptcies were down 22.6% and consumer proposal filings were down 5.3% as compared to the 12-months ended December 31, 2016. There were 21 personal bankruptcies and 21 consumer proposals filed in Canada in the month of December 2017.
December 2017 – 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.