• Bankruptcies were up 47% in Canada - December 2008

    According to bloomberg.com Canadian bankruptcies were up 47% in December 2008 over December 2007.

    The total number of bankruptcies in Canada were 8,299 in December

    Canadian Bankruptcies Dec 2008

    bloomberg.com

    Canadian Bankruptcies Jump 47% in December From Year Earlier

    By Theophilos Argitis

    Feb. 9 (Bloomberg) -- Canadian bankruptcies in December jumped 47 percent from a year earlier, as more consumers struggled to pay their bills amid the country’s first recession since 1992.

    The number of bankruptcies filed by consumers and businesses in Canada totaled 8,299 in December, compared with 5,659 one year earlier, the country’s bankruptcy superintendent reported on its Web site. Bankruptcies filed by consumers jumped 51 percent to 7,821 in December, according to the Office of the Superintendent of Bankruptcy Canada.


 
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2 Comments
On Feb 16, 2009, Monty Loree Said:
It's a lesson in financial prudence... I'm hoping that the value that the Canadian individual will take from this is to be much more financially prudent in the future.

Just as those who lived through the great depression were still frugal with their money for the rest of their lives. I'm hoping that people will learn the lesson of Save emergency reserves and plan for the future.
On Feb 13, 2009, Canadian Said:
that's a sign of the times for the economy that's for sure.. i hope that the government can help these people out some how
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