May 2014 Bankruptcy & Consumer Proposal Statistics

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On July 31, 2014, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and proposal filings for Canadian consumer debtors.

Canada - there were 67,202 personal bankruptcies and 50,632 proposals filed in the 12-months ended May 31, 2014 for average total filings of approximately 9,820 per month.  Bankruptcies were down 4.0% and proposal filings were up 6.0% as compared to the 12-months ended May 31, 2013.

New Brunswick - there were 2,902 personal bankruptcies and 1,249 proposals filed in the 12-months ended May 31, 2014 for average total filings of approximately 346 per month.  Bankruptcies were up 3.5% and proposal filings were up 32.4% as compared to the 12-months ended May 31 2013.

Nova Scotia - there were 3,423 personal bankruptcies and 1,479 proposals filed in the 12-months ended May 31, 2014 for average total filings of approximately 409 per month.  Bankruptcies were up 9.9% and proposal filings were up 27.7% as compared to the 12-months ended May 31, 2013.

Prince Edward Island - there were 472 personal bankruptcies and 210 proposals filed in the 12-months ended May 31, 2014 for average total filings of approximately 57 per month.  Bankruptcies were up 3.1% and proposal filings were up 50.0% as compared to the 12-months ended May 31, 2013.

More detailed statistics are in the following table:

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Powell Associates Ltd. is a licensed insolvency trustee focused on providing debt settlement, consumer proposal and personal 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, FrederictonCharlottetown or Dartmouth - it's your choice.