February 2020 – Personal Bankruptcy & Consumer Proposal Statistics
February 2020 – Personal Bankruptcy & Consumer Proposal Statistics
On April 6, 2020, 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 53,985 personal bankruptcies and 85,197 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 1.7% and consumer proposal filings were up 19.0% as compared to the 12-months ended February 28, 2019. There were 3,867 personal bankruptcies and 7,384 consumer proposals filed in Canada in the month of February 2020.
New Brunswick – there were 2,320 personal bankruptcies and 2,591 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were up 0.3% and consumer proposal filings were up 12.8% as compared to the 12-months ended February 28, 2019. There were 135 personal bankruptcies and 219 consumer proposals filed in New Brunswick in the month of February 2020.
Nova Scotia – there were 3,125 personal bankruptcies and 2,929 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 9.6% and consumer proposal filings were up 35.9% as compared to the 12-months ended February 28, 2019. There were 207 personal bankruptcies and 241 consumer proposals filed in Nova Scotia in the month of February 2020.
Prince Edward Island – there were 381 personal bankruptcies and 353 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 8.4% and consumer proposal filings were up 11.7% as compared to the 12-months ended February 28, 2019. There were 27 personal bankruptcies and 16 consumer proposals filed in Canada in the month of February 2020.
February 2020 – 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 major 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.