Canadian Bankruptcy Statistics - (1980 - 2013)
NEWS FLASH! April 30, 2013:
Insolvencies decrease by 10.8% in February, 2013 compared with the same month the previous year.
- Consumer Bankruptcies were down by 8.6% for the year ended February 28, 2013 compared with the previous year (70,650/77,326).
- Business Bankruptcies were down by 13% for the year ended February 28, 2013 compared the previous year. (3,175/3,651).
- Proposals were up by 2.9% for the year ended February 28, 2013 compared with the previous year. (48,101/46,764).
- For the 12 months ended February 28, 2013 insolvencies were down by 4.6% compared with the previous year. (121,926/127,741).
April 30, 2013: - Statistics released on the Internet by Industry Canada


A Comparison of the Rates of Change in Business Bankruptcies and Consumer Bankruptcies over the Years 1990 - 2011.
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 2011 business bankruptcies declined 68.7%, while consumer bankruptcies, in the same period increased a whopping 122%!
Business Bankruptcies |
Consumer Bankruptcies |
|
2011 |
3,643 |
77,993 |
1990 |
11,642 |
42,782 |
Increase (Decrease) |
(7,999) |
35,211 |
% Increase (Decrease) |
(68.7%) |
121.5% |
Bankruptcies and Proposals: 2002-2011
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
|
Cons. Bank. |
84,426 |
84,638 |
79,218 |
79,796 |
90,610 |
116,381 |
92,694 |
77,993 |
Bus. Bank. |
8,128 |
7,519 |
6,756 |
6,307 |
6,164 |
5,420 |
4,072 |
3,643 |
Proposals |
18,386 |
19,650 |
20,655 |
22,727 |
26,460 |
36,640 |
43,468 |
46,138 |
Total |
110,940 |
111,807 |
106,629 |
108,830 |
123,234 |
158,441 |
140,234 |
127,774 |

#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.
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