Over the 12 months ending June 30, consumer filings were up 4.9% compared to the prior year with Ontario (13,292) and Quebec (8,372) accounting for nearly two-thirds of all filings in the quarter.
But the sharpest increases came from smaller provinces as Newfoundland and Labrador led the country with a 20.2% year-over-year jump in filings, while British Columbia and Manitoba recorded increases of 7.0% and 5.3% respectively.
“For many in lower-income brackets, especially those facing stagnant or declining wages as the cost of essentials rises, the financial burden can be especially severe,” Bolduc adds. “Licensed Insolvency Trustees should be the first place to seek help, as they are the only…