September 2020 – Personal Bankruptcy & Consumer Proposal Statistics

 

 

On September 28, 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 40,600 personal bankruptcies and 71,866 consumer proposals filed in the 12-months ended August 31, 2020.  Personal bankruptcies were down 25.0% and consumer proposal filings were down 7.6% as compared to the 12-months ended August 31, 2019.  There were 2,273 personal bankruptcies and 4,191 consumer proposals filed in Canada in the month of August 2020.

New Brunswick – there were 1,730 personal bankruptcies and 2,129 consumer proposals filed in the 12-months ended August 31, 2020.  Personal bankruptcies were down 26.7% and consumer proposal filings were down 11.7% as compared to the 12-months ended August 31, 2019.  There were 104 personal bankruptcies and 141 consumer proposals filed in New Brunswick in the month of August 2020.

Nova Scotia – there were 2,101 personal bankruptcies and 2,355 consumer proposals filed in the 12-months ended August 31, 2020.  Personal bankruptcies were down 37.2% and consumer proposal filings were down 5.0% as compared to the 12-months ended August 31, 2019.  There were 104 personal bankruptcies and 141 consumer proposals filed in Nova Scotia in the month of August 2020.

Prince Edward Island – there were 270 personal bankruptcies and 270 consumer proposals filed in the 12-months ended August 31, 2020.  Personal bankruptcies were down 30.8% and consumer proposal filings were down 21.7% as compared to the 12-months ended August 31, 2019.  There were 12 personal bankruptcies and 20 consumer proposals filed in Canada in the month of August 2020.

 

 

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Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress;

• You won’t be stuck in an assembly line process.

• You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.

• We will review your debt solution options, including filing a consumer proposal or personal bankruptcy.

• 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 our bankruptcy trustee in Halifax 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.