March 2016 Personal Bankruptcy & Consumer Proposal Statistics

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March 2016 Personal Bankruptcy & Consumer Proposal Statistics

B&PStats
B&PStats

On May 31, 2016, 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 63,614 personal bankruptcies and 59,213 consumer proposals filed in the 12-months ended March 31, 2016 for average total filings of approximately 10,226 per month. Bankruptcies were down 1.1% and consumer proposal filings were up 8.1% as compared to the 12-months ended March 31, 2015.

New Brunswick - there were 2,828 personal bankruptcies and 1,526 consumer proposals filed in the 12-months ended March 31, 2016 for average total filings of approximately 363 per month. Bankruptcies were down 5.6% and consumer proposal filings were up 16.3% as compared to the 12-months ended March 31, 2015.

Nova Scotia - there were 3,760 personal bankruptcies and 1,545 consumer proposals filed in the 12-months ended March 31, 2016 for average total filings of approximately 442 per month. Bankruptcies were down 0.3% and consumer proposal filings were up 0.1% as compared to the 12-months ended March 31, 2015.

Prince Edward Island - there were 523 personal bankruptcies and 305 consumer proposals filed in the 12-months ended March 31, 2016 for average total filings of approximately 69 per month. Bankruptcies were up 3.6% and consumer proposal filings were up 36.8% as compared to the 12-months ended March 31, 2015.

More detailed statistics are in the following table:

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160331

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.