May 2020 – Personal Bankruptcy & Consumer Proposal Statistics
May 2020 – Personal Bankruptcy & Consumer Proposal Statistics
On July 2, 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 47,283 personal bankruptcies and 79,534 consumer proposals filed in the 12-months ended May 31, 2020. Personal bankruptcies were down 13.4% and consumer proposal filings were up 6.8% as compared to the 12-months ended May 31, 2019. There were 2,047 personal bankruptcies and 4,064 consumer proposals filed in Canada in the month of May 2020.
New Brunswick – there were 2,023 personal bankruptcies and 2,435 consumer proposals filed in the 12-months ended May 31, 2020. Personal bankruptcies were down 13.8% and consumer proposal filings were up 4.6% as compared to the 12-months ended May 31, 2019. There were 87 personal bankruptcies and 79 consumer proposals filed in New Brunswick in the month of May 2020.
Nova Scotia – there were 2,624 personal bankruptcies and 2,724 consumer proposals filed in the 12-months ended May 31, 2020. Personal bankruptcies were down 23.0% and consumer proposal filings were up 19.0% as compared to the 12-months ended May 31, 2019. There were 96 personal bankruptcies and 105 consumer proposals filed in Nova Scotia in the month of May 2020.
Prince Edward Island – there were 330 personal bankruptcies and 312 consumer proposals filed in the 12-months ended May 31, 2020. Personal bankruptcies were down 15.8% and consumer proposal filings were down 4.6% as compared to the 12-months ended May 31, 2019. There were 12 personal bankruptcies and 18 consumer proposals filed in Canada in the month of May 2020.
May 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.