January 2017 Bankruptcy & Consumer Proposal Statistics

On March 31, 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 63,278 personal bankruptcies and 62,849 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 10,511 per month. Bankruptcies were up 0.1% and consumer proposal filings were up 7.6% as compared to the 12-months ended January 31, 2016.

New Brunswick - there were 2,867 personal bankruptcies and 1,588 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 371 per month. Bankruptcies were up 1.4% and consumer proposal filings were up 4.1% as compared to the 12-months ended January 31, 2016.

Nova Scotia - there were 4,224 personal bankruptcies and 1,800 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 502 per month. Bankruptcies were up 15.9% and consumer proposal filings were up 15.2% as compared to the 12-months ended January 31, 2016.

Prince Edward Island - there were 488 personal bankruptcies and 302 consumer proposals filed in the 12-months ended January 31, 2017 for average total filings of approximately 66 per month. Bankruptcies were down 5.6% and the percentage of consumer proposal filings were unchanged as compared to the 12-months ended January 31, 2016.

More detailed statistics are in the following table:

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, Charlottetown or Dartmouth - it's your choice.