bankruptcy stats

January 2017 Bankruptcy & Consumer Proposal Statistics

January 2017 Bankruptcy & Consumer Proposal Statistics On March 31, 2017, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors. Canada – there were 63,278 personal bankruptcies and 62,849 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings … Continue reading “January 2017 Bankruptcy & Consumer Proposal Statistics”

2017 Surplus Income Standards

2017 Surplus Income Standards On February 22, 2017 the Superintendent of Bankruptcy recently released the following new standards for the calculation of surplus income for bankrupt individuals via Directive No.11R2-2017. When an individual files for personal bankruptcy the trustee will calculate whether or not he will be required to make surplus income payments based on … Continue reading “2017 Surplus Income Standards”

Budgeting 101 – Part 5 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the March 2017 issue of the District News. In Part 4 of the series, I talked about dealing with lumpy expenses.  In the 5th and final part of this series I will be discussing Catastrophic expenses. Catastrophic expenses are those expenses that you have no … Continue reading “Budgeting 101 – Part 5 of 5”

bankruptcy stats

December 2016 Bankruptcy & Consumer Proposal Statistics

On February 28, 2017 the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors. Canada – there were 63,372 personal bankruptcies and 62,506 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 10,490 per month. Bankruptcies were … Continue reading “December 2016 Bankruptcy & Consumer Proposal Statistics”

Why People Delay Getting Help With Their Debt

More often than not people go to see a Licensed Insolvency Trustee only as a last resort.   The longer an individual waits to get help with their finances, the harder it is to help as the number of options is greatly reduced.  By the time most consumers come to us the only choices left are to … Continue reading “Why People Delay Getting Help With Their Debt”