insolvency stats

A Closer Look at September 2022 Insolvency Stats

David Wood · November 21, 2022 ·

Consumer insolvencies in BC increased in September 2022 overall by 33.5 percent from September 2021. Consumer proposals increased 52.9 percent while bankruptcies decreased 21.3 percent.

Graph showing insolvency data in BC for 2022 — Source: Government of Canada

Consumer insolvencies in all of Canada for August increased 22.1 percent over the same period last year. BC accounted for 9.96 percent of all consumer insolvencies in Canada in September 2022.

The proportion of proposals in consumer insolvencies in BC accounted for 84.6 percent of all BC insolvencies September 2022 while they accounted for 76.1 percent for all insolvencies across Canada for the same period.

The proportion of proposals in consumer insolvencies in BC was 77.6 percent during the 12-month period ending September 2022, up from 73.7 percent during the 12-month period ending September 2021. 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.

Graph showing insolvency data for Canada in 2022 — Source: Government of Canada

Insolvencies across Canada increased 3.08 percent from August 2022 to September 2022. Bankruptcies increased 1.9 percent and proposals increased by 3.5 percent. Proposals also make up 77.8 percent of all insolvencies for the pervious twelve months, up from 68.3 percent in the previous twelve months.

The insolvency statistics indicate the benefits of the protections provided to consumers under the Bankruptcy and Insolvency Act over other non-legislated options. The filing of a consumer proposal or a bankruptcy comes with legal protections that other service providers cannot give. You are protected by Federal Law.

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.

A Closer Look at August 2022 Insolvency Stats

David Wood · October 4, 2022 ·

Consumer insolvencies in BC increased in August 2022 overall by 33.4 percent from August 2021. Consumer proposals increased 44.0 percent while bankruptcies decreased 0.6 percent.

Graph of number of insolvencies in British Columbia in 2022 — *Source: Government of Canada*

Consumer insolvencies in all of Canada for August increased 26.7 percent over the same period last year. BC accounted for 10.6 percent of all consumer insolvencies in Canada in August 2022.

The proportion of proposals in consumer insolvencies in BC accounted for 82.3 percent of all BC insolvencies August 2022 while they accounted for 75.9 percent for all insolvencies across Canada for the same period.

The proportion of proposals in consumer insolvencies in BC was 80.0 percent during the 12-month period ending August 2022, up from 73.2 percent during the 12-month period ending August 2021. 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.

Graph of number of insolvencies in Canada in 2022 — *Source: Government of Canada*

Insolvencies across Canada increased 13.6 percent from July 2022 to August 2022. Bankruptcies increased 9.8 percent and proposals increased by 14.8 percent. Proposals also make up 77.33 percent of all insolvencies for the pervious twelve months, up from 68.03 percent in the previous twelve months.

The insolvency statistics indicate the 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.

A Closer Look at November 2018 Insolvency Stats

admin · February 13, 2019 ·

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

admin · February 13, 2019 ·

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

admin · May 16, 2018 ·

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.

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.