November 2016 Bankruptcy & Consumer Proposal Statistics

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On January 31, 2017, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors. Canada - there were 63,966 personal bankruptcies and 62,607 consumer proposals filed in the 12-months ended November 30, 2016 for average total filings of approximately 10,548 per month. Bankruptcies were up 1% and consumer proposal filings were up 8.4% as compared to the 12-months ended November 30, 2015.

New Brunswick - there were 2,880 personal bankruptcies and 1,535 consumer proposals filed in the 12-months ended November 30, 2016 for average total filings of approximately 368 per month. Bankruptcies were up 0.7% and consumer proposal filings were up 1.8% as compared to the 12-months ended November 30, 2015.

Nova Scotia - there were 4,204 personal bankruptcies and 1,751 consumer proposals filed in the 12-months ended November 30, 2016 for average total filings of approximately 496 per month. Bankruptcies were up 14.8% and consumer proposal filings were up 11.5% as compared to the 12-months ended November 30, 2015.

Prince Edward Island - there were 508 personal bankruptcies and 310 consumer proposals filed in the 12-months ended November 30, 2016 for average total filings of approximately 68 per month. There was no change in the number of bankruptcies and consumer proposal filings were up 6.2% as compared to the 12-months ended November 30, 2015.

More detailed statistics are in the following table:

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Statistics

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.