Second-straight monthly drop
Bankruptcies tumble, consumers go shopping
Personal insolvencies up 45.5% compared with last year
Trend could mean a swift recovery for the job market, economist says
Filings by businesses decline
Biggest increase found among lines of credit
Bankruptcies in Canada rose 22% in February compared with the same month a year earlier, the Office of the Superintendent of Bankruptcy reported Thursday.There were 9,495 bankruptcies filed in the month, compared with 7,774 in February 2008.Most were individuals, with 9,020 consumer bankruptcies in February. The number of business bankruptcies fell, to 475 from 569.Compared […]
Consumer bankruptcy filings shot up by 50% in December 2008 from the same month a year earlier, the Office of the Superintendent of Bankruptcy Canada said Monday.The number of people across the country who made bankruptcy filings in December was 7,821. That was down from 8,163 in November 2008, but well ahead of the 5,192 […]
Weaker economy coupled with high personal debt levels drives increase
But clients must be aware that there are several conditions if the assets are to be protected in the case of bankruptcy