Insolvencies have surged in Alberta in the year to June 2016 according to a new report from the Office of the Superintendent of Bankruptcies.

While the overall rate of consumer insolvencies across Canada was up 7.7 per cent year-over-year, in Alberta there was a 39.9 per cent increase to 1,202. There were 50 in June alone.

Saskatchewan, Yukon and Newfoundland & Labrador all had higher increases in insolvencies year-over-year but the numbers were smaller to begin with.

BC, New Brunswick, Northwest Territories and Nunavut all saw declines in insolvencies year-over-year.

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