Bankruptcy Rate in Brantford Falls in 2006
The bankruptcy rate in Brantford fell in by 6.2% in 2006, due largely to employment growth of 2.0%, and an unemployment rate that fell to 6.3%, the lowest level in four years. In 2006 341 people filed for personal bankruptcy, and a further 100 people filed a consumer proposal.The decrease in the personal bankruptcy rate in 2006 was the largest annual decrease in the bankruptcy rate in Brantford since the 8.4% drop recorded in 2002. Unfortunately in 2003 the bankruptcy rate increased by 17.9%, the largest increase in many years. Will we see an increase in the bankruptcy rate in 2007, like we saw in 2003?
Probably not. As new employers move to Brantford the employment picture should remain positive, so I predict very little change in the personal bankruptcy rate in Brantford in 2007.
Of course just because bankruptcies are down does not mean that people don’t get into trouble. If you are in financial difficulty, you are not alone. In 2006 441 people in Brantford filed a consumer proposal or a personal bankruptcy, so if you want help, please e-mail me a question or call our Brantford office at (519) 770-4440 to book a no-charge initial consultation, and let’s get started.
Labels: bankruptcy Brantford, bankruptcy statistics Brantford, consumer proposal Brantford
posted by J. Douglas Hoyes, CA, Trustee @ 3:43 PM
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