January 2019 – Personal Bankruptcy & Consumer Proposal Statistics

On March 1, 2019, 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 55,142 personal bankruptcies and 70,789 consumer proposals filed in the 12-months ended January 31, 2019.  Personal bankruptcies were down 4.5% and consumer proposal filings were up 9.4% as compared to the 12-months ended January 31, 2018.  There were 4,032 personal bankruptcies and 5,941 consumer proposal filed in Canada in the month of January 2019.

New Brunswick – there were 2,284 personal bankruptcies and 2,262 consumer proposals filed in the 12-months ended January 31, 2019.  Personal bankruptcies were down 6.7% and consumer proposal filings were up 18.9% as compared to the 12-months ended January 31, 2018.  There were 152 personal bankruptcies and 191 consumer proposal filed in New Brunswick in the month of January 2019.

Nova Scotia – there were 3,522 personal bankruptcies and 2,166 consumer proposals filed in the 12-months ended January 31, 2019.  Personal bankruptcies were down 6.2% and consumer proposal filings were up 12.2% as compared to the 12-months ended January 31, 2018.  There were 263 personal bankruptcies and 203 consumer proposal filed in Nova Scotia in the month of January 2019.

Prince Edward Island – there were 437 personal bankruptcies and 307 consumer proposals filed in the 12-months ended January 31, 2019.  Personal bankruptcies were up 11.5% and consumer proposal filings were up 8.1% as compared to the 12-months ended January 31, 2018.  There were 35 personal bankruptcies and 22 consumer proposal filed in Canada in the month of January 2019.

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Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of significant financial stress; 

• You won’t be stuck in an assembly line process. 

• You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.  

• We will review your debt solution options, including filing a consumer proposal or personal bankruptcy. 

• 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.