December 2016 Bankruptcy & Consumer Proposal Statistics

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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 down 0.1% and proposal filings were up 7.4% as compared to the 12-months ended December 31, 2015.

New Brunswick – there were 2,904 personal bankruptcies and 1,538 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 370 per month. Bankruptcies were up 3.2% and proposal filings were up 1.4% as compared to the 12-months ended December 31, 2015.

Nova Scotia – there were 4,191 personal bankruptcies and 1,757 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 496 per month. Bankruptcies were up 14.9% and proposal filings were up 10.9% as compared to the 12-months ended December 31, 2015.

Prince Edward Island – there were 500 personal bankruptcies and 302 consumer proposals filed in the 12-months ended December 31, 2016 for average total filings of approximately 67 per month. Bankruptcies were down 3.7% and proposal filings were up 5.2% as compared to the 12-months ended December 31, 2015.

More detailed statistics are in the following table:

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Powell Associates Ltd. is a licensed trustee in bankruptcy 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.