January 2016 Bankruptcy & Consumer Proposal Statistics

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January 2016 Bankruptcy & Consumer Proposal Statistics

B&PStats
B&PStats

On March 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 63,233 personal bankruptcies and 58,407 proposals filed in the 12-months ended January 31, 2016 for average total filings of approximately 10,137 per month. Bankruptcies were down 1.9% and proposal filings were up 9.1% as compared to the 12-months ended January 31, 2015.

New Brunswick - there were 2,827 personal bankruptcies and 1,525 proposals filed in the 12-months ended January 31, 2016 for average total filings of approximately 363 per month. Bankruptcies were down 5% and proposal filings were up 19% as compared to the 12-months ended January 31, 2015.

Nova Scotia - there were 3,646 personal bankruptcies and 1,562 proposals filed in the 12-months ended January 31, 2016 for average total filings of approximately 434 per month. Bankruptcies were down 3.5% and proposal filings were up 3.3% as compared to the 12-months ended January 31, 2015.

Prince Edward Island - there were 517 personal bankruptcies and 301 proposals filed in the 12-months ended January 31, 2016 for average total filings of approximately 68 per month. Bankruptcies were up 6.2% and proposal filings were up 42% as compared to the 12-months ended January 31 2015.

More detailed statistics are in the following table:

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160131

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.