You may have been wondering how many people in Toronto, Ontario declared personal bankruptcy or filed a consumer proposal in 2005?
Well, here are the numbers (Office of the Superintendent of Bankruptcy statistics):
Personal bankruptcy filings: 10,983
Consumer proposal filings: 4,159
Total Personal bankruptcy and consumer proposal filings: 15,142
This compares to 40,092 for all of Ontario and 101,192 for all of Canada.
To save you doing the math, Toronto accounts for 15% of all Canadian filings and 38% of all the filings in Ontario.
What might be more alarming is that while Canadian numbers are up 1.2% over the previous year, the increases for Ontario and Toronto are 3.1% and 6.3%, respectively.
These numbers are staggering, so don’t feel alone. If you find that you are overwhelmed by your financial situation, I would suggest you contact us by e-mail or telephone 310-PLAN. We can arrange a meeting to review your specific situation and work out a plan that’s right for you.
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