Canadian Insolvencies rise by 3.5 % in November, 2007.

The insolvency rate (consumer bankruptcies, business bankruptcies and proposals) rose by 3.5% in November, 2007 compared with the same month the previous year.
Consumer Bankruptcies were up 2.1% compared with the same month last year.

Business Bankruptcies were down by 3.1% compared with the same month last year.

Proposals rose by 10.2% compared with the same month last year.

Year to Date Insolvencies rose by 2.4% compared to the same period last year.

Consumer Bankruptcies were up 1.1% compared with the same period last year.

Business Bankruptcies down 6.5% compared with the same period last year.

Proposals rose 10.7% compared with the same period last year.

Alberta and BC experienced double digit increases of 12.6% and 10.3% in the Consumer Bankruptcy Rate in November, 2007 compared with November, 2006. This reverses a trend over the last few years of a steady fall in the consumer bankruptcy rate caused by the red hot economies and low unemployment in these two provinces.

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