The Office of the Superintendant of Bankruptcy (OSB) recently released statistics on the third quarter of 2011. The total number of insolvencies filed by consumers is down in Ontario and in Toronto (the closest area to Vaughan the OSB released statistics on).
In Ontario, total filings are down 10.8% (Bankruptcies were down 11.4% and consumer proposals were down 10.1 %) when comparing the third quarter of 2011 to the 2nd quarter of 2011. When comparing the 3rd Quarter of 2011 to the 3rd Quarter of 2010 the total number of filings is down 12.4% (Bankruptcies were down 22.9% and consumer proposals were up 2.1 %).
In Toronto, total filings are down 9.0% (Bankruptcies were down 11.0% and consumer proposals were down 7.6 %) when comparing the third quarter of 2011 to the 2nd quarter of 2011. When comparing the 3rd Quarter of 2011 to the 3rd Quarter of 2010 the total number of filings is down 9.4% (Bankruptcies were down 24.2% and consumer proposals were up 4.3 %).
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