The latest numbers from the office of the Superintendent of Bankruptcy Canada show big drops in bankruptcies and proposals in July of 2016.
Insolvencies in Canada decreased by 15.8 percent from the previous month. Bankruptcies decreased by 15.8 percent and proposals decreased by 15.9 percent.
Compared to last year, insolvencies are down 8.3 percent.
Other July stats: For the 12-month period ending July 31, 2016, the total number of insolvencies increased by 3.1 percent compared with the 12-month period ending July 31, 2015.
You can read the summary and full report here.