Category Archives: Bankruptcy News

After serving on an interim basis since September 30, 2011, William James was officially appointed yesterday as Superintendent of Bankruptcy.  Mr. James is responsible for the  Office of the Superintendent of Bankruptcy Canada (OSB). The OSB is the regulatory agency that oversees Canada’s bankruptcy and insolvency process including the administration of bankruptcies and…

Despite continuing to carry high debt loads, less Canadians filed personal bankruptcy in 2012. Personal consumer insolvencies, both bankruptcies and proposals, declined almost 4% across Canada. This is the third year in a row that total proposals and personal bankruptcies in Canada dropped after peaking at almost 152,000 in 2009….

Canadians have gotten the message: pay off debt faster. Equifax Canada’s National Credit Trends report found that not only are Canadians borrowing less but they are missing fewer payments. This is good news. It shows that more and more Canadians are taking control of their debt. “Throughout 2012, we continued…

It seems Canadians continue to run on the debt treadmill.  We are spending our way further into debt and few Canadians seem to be focusing on debt reduction as a top priority. In statistics released today, Statistics Canada reported that household consumption (ie spending) grew by 1% in the third…

Fewer Canadians are missing loan payments according to a report from Equifax Canada.  This despite the fact that overall Canadian debt levels continue to increase at an alarming rate. The number of Canadians missing loan payments fell to 1.22% in the third quarter 2012, the lowest level since the economic…

In some good news, the number of consumer insolvencies showed an overall decline in Canada for August 2012. The Office of the Superintendent of Bankruptcy Canada reported consumer insolvencies (bankruptcy and consumer proposals) for the 12-month period ending August 2012 were 5.1% lower when compared with the same period the…