• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Phone: (604) 605-3335  Toll Free: (888) 850-6585

 

 

Boale, Wood and Company

Boale, Wood and Company

Licensed Insolvency Trustee

  • Our Company
    • Why Use Us
    • David Wood
  • Solutions
    • Personal Solutions
      • Alternatives to Bankruptcy
      • Consumer Proposal
      • Consumer Proposal vs. Debt Management Program
      • Division 1 Proposal
      • Personal Bankruptcy
      • Proposal Comparison
    • Corporate Solutions
      • Bankruptcy
      • Debt Restructuring
      • Informal Workouts
      • Creditor Proposal
      • Receiverships
      • Liquidator Strata Wind Ups
      • Court Appointed Administrators
  • Resources
    • Forms
    • Newsletter
      • Newsletter Archive
    • Social Media
    • Media
    • FAQ
    • Articles
    • CAIRP
    • Privacy Policy
  • Blog
  • Ask a Trustee
    • Submit your Question
  • Contact Us
    • Free Initial Consultation
    • Vancouver Office
    • Surrey Office
    • Yukon Territory

A closer look at insolvency stats – October 2016

January 9, 2017 by admin

Consumer insolvencies in BC decreased overall by 10.0 percent from September, 2016.  Consumer proposals decreased 14.8 percent while bankruptcies decreased 2.6 percent.

The proportion of proposals in all consumer insolvencies in BC decreased to 57.3 during October while they account for 56.0 percent of all 2016 insolvencies.

Consumer insolvencies in BC for the 12-month period ending October, 2016, decreased overall by 3.4 percent compared with the 12-month period ending October, 2015. Consumer bankruptcies decreased by 14.6 percent, while consumer proposals increased by 7.9 percent.

The increase in the percentage of consumer proposal filings shows the increasing popularity of dealing with debt over bankruptcies and other non-legislated options. It also indicates that consumers are seeing the benefits of using a licensed Insolvency Trustee over other service providers.

The proportion of proposals in consumer insolvencies in BC was 55.8 percent during the 12-month period ending October, 2016, up from 49.8 percent during the 12-month period ending October, 2015. Again, it indicates the popularity of consumer proposals as a way for consumers to deal with their debt over bankruptcies and other non-legislated options.

For the 12-month period ending October, 2016, consumer insolvency filings accounted for 97.1 percent of all insolvency filings.

Articles,  front

Primary Sidebar

Call Us Now

Phone: (604) 605-3335
Toll Free: (888) 850-6585
or use the Contact Form

We have offices located in Vancouver and Surrey.  We also provide services to residents and businesses in the Yukon Territory.

 

Looking for Forms?

We have a number of forms available for download here.

Footer

  • Email
  • Facebook
  • LinkedIn
  • Twitter