Category Archives: Bankruptcy News

Canadian bankruptcy statistics just released by the Office of the Superintendent of Bankruptcy show that Canadian consumer insolvencies grew by 3.5% in 2016. In total, 125,878 consumers filed a bankruptcy or consumer proposal in Canada last year. What’s interesting is the dramatic difference across the various provinces. Canadian provinces who…

After peaking in 2009 at over 150,000 consumer insolvencies in Canada, personal bankruptcy and consumer proposal filings appear to have leveled off at just over 118,000 in both 2012 and 2013. Our infographic at the end of this article highlights these and other facts about bankruptcies and consumer proposals in…

While total insolvency filings in Canada declined 1.1% in August 2013 compared to August 2012 and are down 2.7% over the past 12 months, significant regional differences continue. Ontario and Quebec together account for more than 70% of all bankruptcy and consumer proposal filings in Canada. Yet the difference between…

After falling fairly significantly for the past two months, insolvency statistics (Canadian bankruptcy and consumer proposal filings) increased again in April.  The increase was small, only 3.7% higher than the year before. On a year to date basis, total consumer insolvencies are still 5.5% below last year’s levels largely reflecting…

Who’s More Likely To Declare Bankruptcy? Filing bankruptcy in Canada is more common than you think and it affects Canadians from all walks of life. In 2012, more than 118,000 Canadians filed for insolvency in Canada. But who is at risk of filing bankruptcy or a consumer proposal? Too Much…

Canadian consumer bankruptcies in February 2013 were 14% lower than they were a year earlier, continuing their downward trend. Consumer proposals also declined, down 7% year over year. The decline is likely more a reflection of higher personal earnings and low interest rates than it is recent, and small, improvements…

Total Canadian consumer insolvencies (both bankruptcies and consumer proposals) edged up slightly in January 2013 as people continue to struggle with unmanageable debts. Total insolvencies increased 4.5% compared to the same month a year ago.  The largest growth came from higher consumer proposals – up more than 10% from a…