July 2016 Bankruptcy & Consumer Proposal Statistics

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July 2016 Bankruptcy & Consumer Proposal Statistics

B&PStats
B&PStats

On September 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 63,628 personal bankruptcies and 60,849 consumer proposals filed in the 12-months ended July 31, 2016 for average total filings of approximately 10,373 per month. Bankruptcies were down 0.4% and proposal filings were up 7.8% as compared to the 12-months ended July 31, 2015.

New Brunswick - there were 2,843 personal bankruptcies and 1,455 consumer proposals filed in the 12-months ended July 31, 2016 for average total filings of approximately 358 per month. Bankruptcies were down 4% and proposal filings were up 1.2% as compared to the 12-months ended July 31, 2015.

Nova Scotia- there were 3,973 personal bankruptcies and 1,640 consumer proposals filed in the 12-months ended July 31, 2016 for average total filings of approximately 468 per month. Bankruptcies were up 7.1% and proposal filings were up 8.9% as compared to the 12-months ended July 31, 2015.

Prince Edward Island - there were 490 personal bankruptcies and 303 consumer proposals filed in the 12-months ended July 31, 2016 for average total filings of approximately 66 per month. Bankruptcies were down 4.3% and proposal filings were up 11.8% as compared to the 12-months ended July 31, 2015.

More detailed statistics are in the following table:

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160731

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.