February 2016 Bankruptcy & Consumer Proposal Statistics

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February 2016 Bankruptcy & Consumer Proposal Statistics

B&PStats
B&PStats

On April 30, 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 63,544 personal bankruptcies and 59,039 consumer proposals filed in the 12-months ended February 29, 2016 for average total filings of approximately 10,215 per month. Bankruptcies were down 1% and consumer proposal filings were up 9.5% as compared to the 12-months ended February 28, 2015.

New Brunswick - there were 2,831 personal bankruptcies and 1,548 consumer proposals filed in the 12-months ended February 29, 2016 for average total filings of approximately 365 per month. Bankruptcies were down 3.9% and consumer proposal filings were up 19.9% as compared to the 12-months ended February 28, 2015.

Nova Scotia - there were 3,694 personal bankruptcies and 1,552 consumer proposals filed in the 12-months ended February 29, 2016 for average total filings of approximately 437 per month. Bankruptcies were down 1.4% and consumer proposal filings were up 2.9% as compared to the 12-months ended February 28, 2015.

Prince Edward Island - there were 523 personal bankruptcies and 306 consumer proposals filed in the 12-months ended February 29, 2016 for average total filings of approximately 69 per month. Bankruptcies were up 4.8% and consumer proposal filings were up 43.7% as compared to the 12-months ended February 28, 2015.

More detailed statistics are in the following table:

160229 Stats
160229 Stats

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.