September 2016 Bankruptcy & Consumer Proposal Statistics

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September 2016 Bankruptcy & Consumer Proposal Statistics

On November 30, 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 63,782 personal bankruptcies and 62,125 consumer proposals filed in the 12-months ended September 30, 2016 for average total filings of approximately 10,492 per month. Bankruptcies were up 0.1% and consumer proposal filings were up 9.2% as compared to the 12-months ended September 30, 2015.

New Brunswick - there were 2,826 personal bankruptcies and 1,477 consumer proposals filed in the 12-months ended September 30, 2016 for average total filings of approximately 359 per month. Bankruptcies were down 3.5% and consumer proposal filings were up 0.4% as compared to the 12-months ended September 30, 2015.

Nova Scotia - there were 4,106 personal bankruptcies and 1,742 consumer proposals filed in the 12-months ended September 30, 2016 for average total filings of approximately 487 per month. Bankruptcies were up 12.4% and consumer proposal filings were up 14.9% as compared to the 12-months ended September 30, 2015.

Prince Edward Island - there were 517 personal bankruptcies and 306 consumer proposals filed in the 12-months ended September 30, 2016 for average total filings of approximately 68 per month. Bankruptcies were up 7.9% and proposal filings were up 11.7% as compared to the 12-months ended September 30, 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.