2015 vs 2014 Insolvency Statistics in Canada

Insolvency Statistics

Table of Contents

Insolvency Stats in Canada

Below is the Office of the Superintendent of Bankruptcy Canada’s latest data on insolvency statistics in Canada, which is also sorted by provinces. Some provinces were hit harder than others with an increase in insolvency rates.

In Canada, overall insolvency rates are up. With a 3% increase from 2014 to 2015. Total number of Bankruptcies in Canada for 2014 was 64,839, while in 2015 was 63,406 for an actual decrease in overall bankruptcies by 2.2%. For Proposals, in 2014 there were 53,211 and in 2015 was 58,203 for an overall increase by 9.4% in consumer proposals. From 2014 to 2015, there was an increase in proposals for Ontarians.

 

ProvinceVolume2015
20152014% ChangeAssets Declared at the Time of Filing ($)Liabilities Declared at the Time of Filing ($)
Newfoundland and Labrador1,8221,54517.9156,098,820220,801,462
Bankruptcies1,4981,34811.1102,114,221163,025,907
Proposals32419764.553,984,59957,775,555
Prince Edward Island80672111.853,314,38687,661,924
Bankruptcies5195023.429,262,40856,637,083
Proposals28721931.124,051,97831,024,841
Nova Scotia5,2325,2270.1443,250,633578,361,245
Bankruptcies3,6483,726-2.1244,020,410378,551,282
Proposals1,5841,5015.5199,230,223199,809,963
New Brunswick4,3314,3080.5364,559,367533,871,031
Bankruptcies2,8143,021-6.9175,843,216316,441,228
Proposals1,5171,28717.9188,716,151217,429,803
Quebec43,70541,5545.23,340,368,1464,317,805,874
Bankruptcies24,53924,4470.41,131,601,4172,170,055,264
Proposals19,16617,107122,208,766,7292,147,750,610
Ontario39,93541,108-2.93,110,946,1284,406,774,939
Bankruptcies17,95819,234-6.6801,153,8181,965,130,795
Proposals21,97721,8740.52,309,792,3102,441,644,144
Manitoba2,0981,89110.9214,847,634294,297,181
Bankruptcies1,2641,2005.395,582,091178,927,066
Proposals83469120.7119,265,543115,370,115
Saskatchewan2,1981,93813.4329,983,601357,094,975
Bankruptcies1,1551,1054.5121,924,854173,908,444
Proposals1,04383325.2208,058,747183,186,531
Alberta9,8108,28118.51,324,889,6921,707,944,001
Bankruptcies4,2803,85910.9433,861,199802,185,572
Proposals5,5304,42225.1891,028,493905,758,429
British Columbia11,58011,3831.71,123,751,4691,601,413,643
Bankruptcies5,6836,345-10.4388,511,780814,669,138
Proposals5,8975,03817.1735,239,689786,744,505
Northwest Territories52496.15,523,6157,994,766
Bankruptcies28267.72,377,9704,562,289
Proposals24234.33,145,6453,432,477
Yukon3539-10.36,917,88511,566,723
Bankruptcies1822-18.22,126,8966,890,453
Proposals171704,790,9894,676,270
Nunavut56-16.737,703292,193
Bankruptcies24-5016,300174,789
Proposals325021,403117,404
Canada121,609118,050310,474,489,07914,125,879,957
Bankruptcies63,40664,839-2.23,528,396,5807,031,159,310
Proposals58,20353,2119.46,946,092,4997,094,720,647

 

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

The team at David Sklar and Associates Inc are very professional and are willing to help you get out of debt. Highly recommended.
Melissa MacKenzie
12:35 29 Mar 23
I would like to thank the team at David Sklar and associates inc. for all the time and effort they put in to support this process for me. This topic can be challenging to disclose but a big thank you to Christine for going above and beyond in guiding me through all my options and supporting me through the decisions. I cannot recommend this group enough , as they have shown me compassion , knowledge , and understanding throughout the entire process. I look forward to the next step of this process and learning how the proper way of becoming financially educated through the support of their financial counselling team. For anyone who is struggling , just know that there is a wonderful group of educated professionals at David Sklar who are available to help!
Michelle Plouffe
18:45 14 Mar 23
It took me awhile to get up the courage to contact David Sklar but I’m so glad I did. Trina walked through my options with me and provided the knowledge I needed to make a decision to help turn my financial situation around. She is patient and empathetic and answered any and every question that I had. Trina provided me the reassurance I needed that I was making the best decisions for me and my family. I’m so happy that I reached out and now have a plan to get back on track.
M. Mackenzie
19:59 12 Mar 23
Trina was very helpful and thorough.
Sam M
15:26 12 Mar 23
Christine was very helpful, kind, and understanding. She explained everything thoroughly, answered any questions I had, and was responsive to any concerns I had. 100% would recommend
Katherine Campbell
17:29 08 Mar 23
Jackie Stanley is excellent she took the time to explain everything to me and I am so grateful to her for giving me a fresh financial start so if you have any doubts don’t and go see her if you want to achieve financial freedom!
Heather Helfield
21:24 06 Mar 23
Amazing friendly staff that knows what they are going. They make a difficult situation not so bad. Would give 10 stars if I could.
alie Balan
22:37 25 Feb 23
Very helpful and kind and gave me all the available options before helping me decide which one was best for me. I would definitely recommend Jackie
Alison Rivard
01:01 21 Feb 23
Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
js_loader
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

Contact Us