The number of consumer insolvencies in Canada decreased 1.2% in the year ending July 31, 2017.
The Office of the Superintendent of Bankruptcies (OSB) reported Monday that consumer bankruptcies were down 5.7% while consumer proposals increased 3.4%.
Overall consumer insolvencies were down year-over-year in British Columbia, Ontario, Newfoundland & Labrador, Prince Edward Island, Quebec and Alberta.
There were increases in the Yukon, Manitoba and Saskatchewan; and no change in Nunavut and the Northwest Territories.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
