January 2015 Personal Bankruptcy & Consumer Proposal Statistics

On March 31, 2015, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and proposal filings for Canadian consumer debtors.

Canada – there were 64,466 personal bankruptcies and 53,522 proposals filed in the 12-months ended January 31, 2015, for average total filings of approximately 9,838 per month. Bankruptcies were down 6% and proposal filings were up 8% as compared to the 12-months ended January 31, 2014.

New Brunswick – there were 2,975 personal bankruptcies and 1,282 proposals filed in the 12-months ended January 31, 2015, for average total filings of approximately 355 per month. Bankruptcies were up 5% and proposal filings were up 12.6% as compared to the 12-months ended January 31, 2014.

Nova Scotia – there were 3,777 personal bankruptcies and 1,512 proposals filed in the 12-months ended January 31, 2015, for average total filings of approximately 441 per month. Bankruptcies were up 15.4% and proposal filings were up 10% as compared to the 12-months ended January 31, 2014.

Prince Edward Island – there were 487 personal bankruptcies and 212 proposals filed in the 12-months ended January 31, 2015, for average total filings of approximately 58 per month. Bankruptcies were up 8.5% and proposal filings were up 14.6% as compared to the 12-months ended January 31, 2014.

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 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.