On December 29, 2017, 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 58,913 personal bankruptcies and 63,644 consumer proposals filed in the 12-months ended October 31, 2017. Personal bankruptcies were down 7.4% and consumer proposal filings were up 2.5% as compared to the 12-months ended October 31, 2016.
New Brunswick – there were 2,544 personal bankruptcies and 1,834 consumer proposals filed in the 12-months ended October 31, 2017. Personal bankruptcies were down 10.9% and consumer proposal filings were up 21.6% as compared to the 12-months ended October 31, 2016.
Nova Scotia – there were 3,932 personal bankruptcies and 1,915 consumer proposals filed in the 12-months ended October 31, 2017. Personal bankruptcies were down 4.4% and consumer proposal filings were up 9.9% as compared to the 12-months ended October 31, 2016.
Prince Edward Island – there were 402 personal bankruptcies and 276 consumer proposals filed in the 12-months ended October 31, 2017. Personal bankruptcies were down 22.1% and consumer proposal filings were down 9.2% as compared to the 12-months ended October 31, 2016.
More detailed statistics are in the following table:
October 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.