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Alberta bankruptcy and insolvency statistics

Insolvencies Filed by Consumers - First Quarter 2017 - Alberta

Volume

% Change

12-Month Period Ending

Q1 2017

Q4 2016

Q1 2016

Q4 2016 to
Q1 2017

Q4 2016 to
Q1 2017

03-31-2017

03-31-2016

% Change

Bankruptcies

1,348

1,350

1,409

-0.1

-4.3

5,487

4,767

15.1

Proposals

2,042

1,917

1,325

6.5

11.9

8,007

6,157

30.0


Source: Office of the Superintendent of Bankruptcy Canada

Definitions

Consumer:

An individual with more than 50 percent of total liabilities related to consumer goods and services.

Bankruptcy:

The state of a consumer or business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.

Proposal:

An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.

Insolvency:

The inability of a debtor to pay off debt as it becomes due.

 

We can help

Our Licensed Insolvency Trustees (formerly called Trustee in Bankruptcy or Bankruptcy Trustee) and Estate Managers believe everyone deserves a financial fresh start, while being treated with dignity and respect. We have offices conveniently located in Calgary, Edmonton, throughout Alberta, and across Canada.

To speak to someone now call us at 310-8888 for a free, no obligation, confidential consultation.

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