More Canadians are insolvent says report

There was a rise in bankruptcies and proposals to creditors in September, the latest month’s stats released by the Office of the Superintendent of Bankruptcy Canada.

Consumer insolvencies were up 4.4 per cent year-over-year, mainly proposals; business insolvencies were down 6.5 per cent.

The only provinces to record a decline in insolvencies year-over-year were New Brunswick and British Columbia however month-over-month there was improvement for Newfoundland & Labrador, New Brunswick, Saskatchewan and Yukon.

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