When debt repayment becomes unmanageable, one of
the unfortunate options is to declare personal bankruptcy.
Thankfully, the number of people having to file has been
falling since the peak of the 2009 downturn.
In April there were 523 personal bankruptcies in Alberta,
down from 568 in the previous month. The level of
personal bankruptcies has been stable in recent months
but has trended downward slightly over the last two years.
Total personal bankruptcies over the past 12 months
ending April 30, 2012, were down 15.4 per cent compared
to total bankruptcies over the previous 12 months.
Statistics on personal bankruptcies—also known as
consumer bankruptcies—are tracked by the Office of the
Superintendent of Bankruptcy, which is a federal
government agency of Industry Canada. The agency also
tracked...