Statistics on insolvency
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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