According to the Office of the Superintendent of Bankruptcy Canada, 6,328 consumers filed for bankruptcy in Québec in the second quarter of 2012, a 6 per cent decrease compared to the second quarter of 2011. Furthermore, more Québecers – 2,833 consumers compared to 2,513 in the second quarter of 2011 (+13 per cent) – submitted a proposal to their creditors to renegotiate their repayment conditions and lighten their debt. In total, the number of insolvencies (bankruptcies and proposals) filed by Québec consumers from April to June 2012 decreased by 1 per cent compared to the same period in 2011. This number also decreased significantly in the Montréal (-7 per cent)and the Laval and Montérégie areas posted the largest increases at 13 and 9 per cent, respectively.
To see insolvency statistics in Canada