Canadian Bankruptcy Statistics - (1980 - 2010)

NEWS FLASH! August 24, 2010:

Insolvencies decline by 14.4% in June, 2010.

Consumer Bankruptcies were down by 23.9% in June, 2010 compared with the same month in 2009. (8,241/10,823).

Business Bankruptcies were down by 31.5% in June, 2010 compared with the same month in 2009. (353/515).

Proposals were up by 21.8% in June, 2010 compared with the same month in 2009. (3,751/3,080).

For the 12 months ended June 30, 2010 insolvencies were up by 5.1% compared with the 12 months ended JUne 30, 2009. (151,175/143,883).

August 24, 2010: - Statistics released on the Internet by Industry Canada

June, 2010 Banruptcy stats.

A Comparison of the Rates of Change in Business Bankruptcies and
Consumer Bankruptcies over the Years 1990 - 2009.

One of the most significant changes in bankruptcies over the last few years is the remarkable decline in business bankruptcies and the even more remarkable increase in the consumer bankruptcy rate. The chart, below illustrates this. In the years 1990 to 2008 business bankruptcies declined 47%, while consumer bankruptcies, in the same period increased a whopping 112%!

	Business Bankruptcies	Consumer Bankruptcies
2009	5,420	116,381
1990	11,642	42,782
Increase (Decrease)	(6,222)	73,599
% Increase (Decrease)	(53.4%)	172.0%

Bankruptcies and Proposals: 2000-2009

	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009
Cons. Bank.	75,137	79,453	78,232,	84,251	84,426	84,638	79,218	79,796	90,610	116,381
Bus. Bank.	10,055	10,005	9,472	8,844	8,128	7,519	6,756	6,307	6,164	5,420
Proposals	14,603	15,995	17,094	18,320	18,386	19,650	20,655	22,727	26,460	36,640
Total	99,795	105,503	104,798	111,415	110,940	111,807	106,629	108,830	123,234	158,441

Bankruptcy Chart 1980 - 2010

2008 Consumer Bankruptcy Statistics
Comparison with U.S. / Per Capita Rates
(Note: N.W.T., Yukon & Nunavut are omitted.)

The latest U.S. bankruptcy statistics for the year ended December 31, 2008 reports 1,074,225 (Note: 1) consumer filings. The U.S. population, projected to December 31, 2008, by the U.S. Bureau of the Census, is 303,825,000. This is a rate of 4.7 filings/thousand.

The latest Canadian bankruptcy statistics for the year ended December 31, 2008 reports consumer insolvency (bankruptcy and consumer proposals) filings of 115,789. Statistics Canada reports the Canadian population, projected to July 1, 2008 to be 33,213,000. This is a rate of 3.5 filings/thousand. Saskatchewan has the lowest rate in Canada with 1.8 insolvencies per thousand.

Jurisdiction	#Cons. Insolv.	Population (,000)	# Bankruptcies per thousand
Atlantic	10,268	2,311	4.4
Quebec	34,276	9,593	3.6
Ontario	50,442	12,942	3.9
Prairies (includes Alberta)	11,856	5,739	2.1
Alberta	7,388	3,512	2.1
B.C.	8,882	4,420	2.0
Canada	115,789	33,213	3.5
U.S. Year Ended Dec. 31, 2007 (Note: 1)	1,416,902	303,825	4.7

Note: 1 The number of reported US consumer bankruptcies and Chapter 13 (Proposals) filings has been increased by 31.9% in order to give the number of people who filed bankruptcy. In accordance with a study reported in September, 2001, Young, Old, and in Between: Who Files for Bankruptcy? By Dr. Teresa Sullivan, Dr. Deborah Thorne and Professor Elizabeth Warren 31.9 % of the filings for the year ended June 30, 2001 were joint filings of husband and wife.

A similar adjustment for Canada was not required because in Canada joint bankruptcy filings are uncommon.