August 2016 Bankruptcy & Consumer Proposal Statistics

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August 2016 Bankruptcy & Consumer Proposal Statistics

On October 31, 2016, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors.

Canada - there were 63,829 personal bankruptcies and 61,611 consumer proposals filed in the 12-months ended August 31, 2016 for average total filings of approximately 10,453 per month. There was no increase in bankruptcies and proposal filings were up 7.2% as compared to the 12-months ended August 31, 2015.

New Brunswick - there were 2,849 personal bankruptcies and 1,475 consumer proposals filed in the 12-months ended August 31, 2016 for average total filings of approximately 360 per month. Bankruptcies were down 2.9% and proposal filings were up 1.7% as compared to the 12-months ended August 31, 2015.

Nova Scotia - there were 4,072 personal bankruptcies and 1,688 consumer proposals filed in the 12-months ended August 31, 2016 for average total filings of approximately 480 per month. Bankruptcies were up 10.4% and proposal filings were up 11.3% as compared to the 12-months ended August 31, 2015.

Prince Edward Island - there were 501 personal bankruptcies and 299 consumer proposals filed in the 12-months ended August 31, 2016 for average total filings of approximately 67 per month. Bankruptcies were up 2.2% and proposal filings were up 9.9% as compared to the 12-months ended August 31, 2015.

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Powell Associates Ltd. is a licensed insolvency trustee focused on providing debt settlement, proposal and bankruptcy solutions for individuals and businesses. We offer free consultations to review your personal financial situation and practical debt resolution options.  Contact us to discuss your situation over the phone or book an appointment to meet us face-to-face in Saint John, Moncton, Fredericton or Charlottetown - it's your choice.