October 2016 Bankruptcy & Consumer Proposal Statistics

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October 2016 Bankruptcy & Consumer Proposal Statistics

On December 31, 2016, the Office of the Superintendent of Bankruptcy released its most current statistics on bankruptcy and consumer proposal filings for Canadian debtors.

Canada - there were 63,620 personal bankruptcies and 62,092 consumer proposals filed in the 12-months ended October 31, 2016 for average total filings of approximately 10,476 per month. Bankruptcies were up 0.5% and consumer proposal filings were up 8.7% as compared to the 12-months ended October 31, 2015.

New Brunswick - there were 2,856 personal bankruptcies and 1,508 consumer proposals filed in the 12-months ended October 31, 2016 for average total filings of approximately 364 per month. Bankruptcies were down 1% and consumer proposal filings were up 1.3% as compared to the 12-months ended October 31, 2015.

Nova Scotia - there were 4,113 personal bankruptcies and 1,743 consumer proposals filed in the 12-months ended October 31, 2016 for average total filings of approximately 488 per month. Bankruptcies were up 13.1% and consumer proposal filings were up 15% as compared to the 12-months ended October 31, 2015.

Prince Edward Island - there were 516 personal bankruptcies and 304 consumer proposals filed in the 12-months ended October 31, 2016 for average total filings of approximately 68 per month. Bankruptcies were up 6.6% and proposal filings were up 5.2% as compared to the 12-months ended October 31, 2015.

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, 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.