The number of consumer insolvencies in Canada decreased 1.2% in the year ending July 31, 2017.

The Office of the Superintendent of Bankruptcies (OSB) reported Monday that consumer bankruptcies were down 5.7% while consumer proposals increased 3.4%.

Overall consumer insolvencies were down year-over-year in British Columbia, Ontario, Newfoundland & Labrador, Prince Edward Island, Quebec and Alberta.

There were increases in the Yukon, Manitoba and Saskatchewan; and no change in Nunavut and the Northwest Territories.

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