On December 31, 2014, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and proposal filings for Canadian consumer debtors.
Canada – there were 65,088 personal bankruptcies and 52,508 proposals filed in the 12-months ended October 31, 2014 for average total filings of approximately 9,800 per month. Personal Bankruptcies were down 6.4% and Consumer proposal filings were up 6.9% as compared to the 12-months ended October 31, 2013.
New Brunswick – there were 2,955 personal bankruptcies and 1,261 proposals filed in the 12-months ended October 31, 2014 for average total filings of approximately 351 per month. Bankruptcies were up 3.6% and proposal filings were up 20.3% as compared to the 12-months ended October 31, 2013.
Nova Scotia – there were 3,645 personal bankruptcies and 1,470 proposals filed in the 12-months ended October 31, 2014 for average total filings of approximately 426 per month. Bankruptcies were up 12.3% and proposal filings were up 6.7% as compared to the 12-months ended October 31, 2013.
Prince Edward Island – there were 520 personal bankruptcies and 210 proposals filed in the 12-months ended October 31, 2014 for average total filings of approximately 61 per month. Bankruptcies were up 17.6% and proposal filings were up 33.8% as compared to the 12-months ended October 31, 2013.
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;
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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.