A Closer Look at November 2018 Insolvency Stats

Consumer insolvencies in BC increased in November 2018 overall by 1.0 percent from November 2017.  Consumer proposals increased 6.7 percent while bankruptcies decreased 7.7 percent.

Consumer insolvencies in all of Canada increased 5.1 percent over the same period last year.  BC accounted for 7.92 percent of all insolvencies in Canada in November 2018.

The proportion of proposals in consumer insolvencies in BC accounted for 63.73 percent during November 2018 while they accounted for 58.93 percent for all insolvencies across Canada for the same period.

The proportion of proposals in consumer insolvencies in BC was 59.68 percent during the 12-month period ending November, 2018, up from 57.99 percent during the 12-month period ending November 2017.  It indicates the popularity of consumer proposals as a way for consumers to deal with their debt and with dealing with a Licensed Insolvency Trustee over other unregulated service providers.

While insolvencies across Canada are down overall by 5.1 percent, bankruptcies are down 3.6 percent, but proposals are up by 12.1 percent.  Proposals also make up 55.67 of all insolvencies in Canada in 2018 up from 52.4 percent in the previous twelve months.

The insolvency statistics indicate the increasing benefits of the protections provided to consumers under the Bankruptcy and Insolvency Act over other non-legislated options, whether that is a consumer proposal or a bankruptcy.   It also indicates that consumers are seeing the benefits of seeking the professional advice of a Licensed Insolvency Trustee rather than those of other non regulated service providers.

If you would like to know exact details of how a consumer proposal or a bankruptcy would benefit you in dealing with debt, call us at (604) 605-3335 to schedule a free consultation.

Call us.  It’s not too late.

For more on the the all Canada statistics, see this page.

 

 

 

Canadian Insolvency Stats for November 2018

The latest numbers from the office of the Superintendent of Bankruptcy Canada shows a 2.5% percent decrease in the total number of insolvencies in Canada in November 2018 compared to the previous month.

Bankruptcies decreased by 8.2% percent and proposals increased by 2.1% percent.

Compared to a year earlier, insolvencies increased by 2.0%

Other stats: For the 12 month period ending November 30, 2018, the total number of insolvencies increased 2.0 percent compared with the 12-month period ending November 30, 2017.

You can read the summary and full report here.

A Closer Look at December 2017 Insolvency Stats

Consumer insolvencies in BC decreased in December 2017 overall by 15.0 percent from November 2017.  Consumer proposals decreased 13.6 percent while bankruptcies decreased 17.0 percent.

The proportion of proposals in consumer insolvencies in BC accounted for 61.28 percent during December 2017 while they accounted for 51.79 percent for all insolvencies across Canada for the same period.

Consumer insolvencies in BC for the 12-month period ending December, 2017, increased overall by 6.6 percent compared with the 12-month period ending December, 2016. Consumer bankruptcies decreased by 9.9 percent, while consumer proposals increased by 20.6 percent. Consumer insolvencies in all of Canada decreased 2.4 percent over the same period last year.  BC accounted for 8.78 percent of all insolvencies in Canada in December 2017.

The proportion of proposals in consumer insolvencies in BC was 61.28 percent during the 12-month period ending December, 2017, up from 54.18 percent during the 12-month period ending December 2016.  It indicates the popularity of consumer proposals as a way for consumers to deal with their debt and with dealing with a Licensed Insolvency Trustee over other unregulated service providers.

While insolvencies across Canada are down overall by 2.9 percent, bankruptcies are down 8.5 percent, but proposals are up by 2.8 percent.  Proposals also make up 52.57 of all insolvencies in Canada in 2017 up from 49.66 percent in the previous twelve months.

The insolvency statistics indicate the increasing benefits of the protections provided to consumers under the Bankruptcy and Insolvency Act over other non-legislated options, whether that is a consumer proposal or a bankruptcy.   It also indicates that consumers are seeing the benefits of seeking the professional advice of a Licensed Insolvency Trustee rather than those of other non regulated service providers.

If you would like to know exact details of how a consumer proposal or a bankruptcy would benefit you in dealing with debt, call us at (604) 605-3335 to schedule a free consultation. Call us.  It’s not too late.

For more on the all Canada stats, please see this article.

 

A Closer Look at November 2017 Insolvency Stats

Consumer insolvencies in BC increased in November 2017 by 14.7 percent from October 2017.  Consumer proposals increased 11.7 percent while bankruptcies decreased 19.7 percent.

The proportion of proposals in consumer insolvencies in BC accounted for 60.32 percent during November 2017 while they accounted for 55.22 percent for all insolvencies across Canada for the same period.

Consumer insolvencies in BC for the 12-month period ending November, 2017, decreased by 0.9 percent compared with the 12-month period ending November, 2016. Consumer bankruptcies decreased by 1.7 percent, while consumer proposals decreased by 0.4 percent. Consumer insolvencies in all of Canada are down by 1.3 percent over the same period last year.  BC accounted for 8.24 percent of all insolvencies in Canada in November 2017.

The proportion of proposals in consumer insolvencies in BC was 60.32 percent during the 12-month period ending November, 2017, slightly up from 60.0 percent during the 12-month period ending November 2016.  It indicates the popularity of consumer proposals as a way for consumers to deal with their debt and with dealing with a Licensed Insolvency Trustee over other unregulated service providers.

While insolvencies across Canada are down overall by 1.7 percent, bankruptcies are down 11.8 percent but proposals are up by 9.2 percent.

The insolvency statistics indicate the increasing benefits of the protections provided to consumers under the Bankruptcy and Insolvency Act over other non-legislated options, whether that is a consumer proposal or a bankruptcy.   It also indicates that consumers are seeing the benefits of seeking the professional advice of a Licensed Insolvency Trustee rather than those of other non regulated service providers.

If you would like to know exact details of how a consumer proposal or a bankruptcy would benefit you in dealing with debt, call us at (604) 605-3335 to schedule a free consultation.

Call us.  It’s not too late.

See this article for more on Canadian insolvency statistics for July 2017.

Canadian Insolvency Stats for November 2017

The latest numbers from the office of the Superintendent of Bankruptcy Canada shows a 0.9% percent increase in the total number of insolvencies in Canada in November 2017 compared to the previous month.

Bankruptcies decreased by 3.7% percent and proposals increased by 5.2% percent.

Compared to a year earlier, insolvencies decreased by 1.5%

Other stats: For the 12 month period ending November 30, 2017, the total number of insolvencies decreased by 3.4 percent compared with the 12-month period ending November 30, 2016.

You can read the summary and full report here.