BankruptcyCanada.com Logo

                     Canadian Bankruptcy Statistics - (1980 - 2008)                    

NEWS FLASH! September 5th, 2008:
Huge 19.8% increase in Canadian Insolvencies for the Month of July, 2008 compared with the Same Month in 2007.

 

Consumer Bankruptcies were up 19.0% compared with the same month the previous year.

Business Bankruptcies were down by 6.4% compared with the same month the previous year.

Proposals were up by 30.0% compared with the same month the previous year.

For the 12 months ending July 31, 2008 Insolvencies are up by 5.0% compared with the previous year; (2008:113,580 - 2007:108,130)

 

September 5th, 2008: - Statistics released on the Internet by Industry Canada

 

Provinces with Double Digit Changes in
the Insolvency Rate in July, 2008
compared with July, 2007.

Province
% Increase
(Decrease)
NL
17.8
NS
12.7
PE
(24.4)
NB
21
QC
21.4
ON
20.7
MB
14.7
AB
24.4
BC
17.9

 

September 5th, 2008: - Statistics released on the Internet by Industry Canada

Bankruptcy Statistics July 2008

Bankruptcy Statistics to July 2008

 

 

A Comparison of the Rates of Change in Business Bankruptcies and
Consumer Bankruptcies over the Years 1990 - 2007.

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 2007 business bankruptcies declined 46%, while consumer bankruptcies, in the same period increased a whopping 87%!

 

 

 

 
Business
Bankruptcies
Consumer
Bankruptcies
2007
6,307
79,796
1990
11,642
42,782
Increase (Decrease)
(5,335)
37,014
% Increase (Decrease)
(45.8%)
86.5%

 


Bankruptcies and Proposals: 2000-2007

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

 

 

 

2007 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, 2006 reports 598,000 (Note: 1) consumer filings.  The U.S. population, projected to December 31, 2004, by the U.S. Bureau of the Census, is 297,000,000.  This is a rate of 2.1 filings/thousand.

The latest Canadian bankruptcy statistics for the year ended December 31, 2007 reports consumer insolvency (bankruptcy and consumer proposals) filings of  99,282.  Statistics Canada reports the Canadian population, projected to July 1, 2007 to be 32,976,000.    This is a rate of 3.0 filings/thousand. Alberta has the lowest rate in Canada with 1.7 insolvencies per thousand.

 

 

 

 

 

 

 

Jurisdiction 
#Cons. Insolv.
 Population (,000)
# Bankruptcies
per thousand
Atlantic
9,136
2,329
3.9
Quebec
29,640
7,701
3.8
Ontario
42,434
12,804
3.3
Prairies (includes Alberta)
10,224
5,658
1.8
Alberta
5,758
3,474
1.7
B.C.
7,791
4,380
1.8
Canada
99,282
32,976
3.0
U.S. Year Ended Dec. 31, 2007 (Note: 1)
1,113,414
301,140
3.7


 

 

 

 

 

 

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.

 

 

 

Canadian Flag Directory

Click the Button to Open
 
Home

Canadian Flag Overview:

Find a Trustee in your area.

How to Prepare for your meeting with the bankruptcy trustee.
PowerPoint Presentation

Will you be better or worse off under the new bankruptcy laws?

Steps in a Bankruptcy.
PowerPoint Presentation

Steps in a Consumer Proposal.
PowerPoint Presentation

Bankruptcy Predictor.
Confidential Self Evaluation

Canadian Flag Bankruptcy Information:

Help Keep This Service FREE

 

Free Classified Ads

 

Home | Francais | After Bankruptcy Lenders  | Ask a Bankruptcy Trustee | Bankruptcy Exemptions | Bankruptcy FAQ | Bankruptcy References | Bankruptcy Trustees | Business Bankruptcy  | List your Trustee Firm |  Personal Bankruptcy | Proposals - Avoiding Bankruptcy  | Steps to File Bankruptcy | Links | About Us | Privacy