The Office of the Superintendent of Bankruptcy Canada has just released data for November 2017 showing a 1% rise in insolvencies from the previous month. Bankruptcies were down 3.7% but proposals increased 5%.
Year-over-year the picture was brighter with a 3.3% decrease in all consumer insolvencies in the 12-month period ending November 30, 2017. Consumer bankruptcies decreased by 8.9%, while consumer proposals increased by 2.5%.
Month-over-month there were increases in insolvencies in Ontario, BC, Quebec, Yukon, Northern Territories and PEI.
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There was a rise in the number of Canadians filing for insolvency towards the end of last year.