Statistics on insolvency

Statistics on insolvency in Canada

Getting into financial difficulty is no fun. Most people who are deeply in debt feel shame and guilt for their money problems because they affect their whole family. A stack of unpaid bills and repeated calls from collection agencies can give people the impression that they are alone in the world and helpless.

But in fact, as shown by recent statistics from the Office of the Superintendent of Bankruptcy Canada, you are not alone in experiencing money problems.

Insolvencies filed by consumers in 2017

Volume
Quebec Ontario Canada
Bankruptcy 22,647 15,336 57,969
Consumer Proposal 19,023 22,831 64,229
Total 41,670 38,167 122,198

Profiles of consumer debtors

Distribution of Insolvency Files (%)
Age Group (Years) Sex
18 to 24 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 and older Women Men
Québec 4.6 8.6 10.5 12.5 12.3 11.6 11.4 9.7 6.8 12.0 45.9 54.1
Ontario 3.5 8.2 11.2 12.6 12.4 12.0 11.7 10.0 7.2 11.2 47.6 52.4
Totaux 3.6 8.1 11.2 13.0 12.7 12.1 11.4 9.7 6.9 11.2 47.0 53.0

The statistics show beyond a shadow of a doubt that anyone can experience debt problems. Whether you are a man or a woman, and no matter what your age or salary, you could one day encounter financial difficulties.

If so, contact a Licensed Insolvency Trustee or administrator at one of our many offices. They will be able to assist you during this difficult period and suggest custom solutions.

*Source : Office of the Superintendent of Bankruptcy Canada

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