March 2020 – Personal Bankruptcy & Consumer Proposal Statistics
March 2020 – Personal Bankruptcy & Consumer Proposal Statistics
On May 11, 2020, 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 53,081 personal bankruptcies and 85,085 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 3.0% and consumer proposal filings were up 17.5% as compared to the 12-months ended February 28, 2019. There were 3,741 personal bankruptcies and 7,206 consumer proposals filed in Canada in the month of February 2020.
New Brunswick – there were 2,276 personal bankruptcies and 2,636 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 2.3% and consumer proposal filings were up 14.9% as compared to the 12-months ended February 28, 2019. There were 173 personal bankruptcies and 236 consumer proposals filed in New Brunswick in the month of February 2020.
Nova Scotia – there were 3,000 personal bankruptcies and 2,922 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 13.6% and consumer proposal filings were up 32.4% as compared to the 12-months ended February 28, 2019. There were 174 personal bankruptcies and 224 consumer proposals filed in Nova Scotia in the month of February 2020.
Prince Edward Island – there were 374 personal bankruptcies and 342 consumer proposals filed in the 12-months ended February 29, 2020. Personal bankruptcies were down 7.9% and consumer proposal filings were up 12.1% as compared to the 12-months ended February 28, 2019. There were 23 personal bankruptcies and 19 consumer proposals filed in Canada in the month of February 2020.
March 2020 – Personal Bankruptcy & Consumer Proposal Statistics
Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress;
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You won’t be stuck in an assembly line process.
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You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.
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We will review your debt solution options, including filing a consumer proposal or personal bankruptcy.
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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.