In statistics just released by the Office of the Superintendent of Bankruptcy, the total number of consumer insolvencies filed in Brantford in the twelve months ended September 30, 2011 dropped by almost 20%! That’s a massive drop, when you consider that the drop in Ontario was only 11%. Here’s the breakdown:
There were 291 personal bankruptcies filed in Brantford over the twelve month period ending September 30, 2011, as compared to 476 in the same period in 2010, so personal bankruptcy filings dropped by almost 40%! That’s amazing when you consider that in all of Canada the bankruptcy rate only dropped by 14% in the same period.
Doug Hoyes, Brantford Bankruptcy Trustee
There were 304 consumer proposals filed in Brantford over the twelve month period ending September 30, 2011, as compared to 264 in the same period in 2010, so consumer proposals increased by 15%.
This is good news for Brantford residents, as it appears that there was some improvement in our economy in the last year. It’s also good news that Brantford residents are choosing to file consumer proposals as an alternative to bankruptcy.
How can you stay out of trouble in 2012? Manage your money wisely, as I discussed last week in my post on Budgeting in Brantford the Easy Way.
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