Bankruptcies down, but more Consumer Proposals in Sarnia

by Joel Sandwith on September 7, 2011

The Office of the Superintendent of Bankruptcy has just released it’s report on bankruptcy statistics for the first six months of the year – and generally, it’s pretty good news.

Here in Sarnia, the total number of people who filed bankruptcies or proposals fell by 7% – this is possibly very good news and may be an indicator that some of the worst parts of the recession from 2008 are coming to an end.  Even better news is that of those who needed this type of financial help, more were able to do consumer proposals than last year.  In the first six months of 2010,  there were 61 consumer proposals and 157 bankruptcies in the Sarnia area.  In 2011, bankruptcies fell to only 129 while there were 73 proposals filed.  Proposals now account for more than 1/3 of all ‘insolvencies’.  A consumer proposal is an option under the Bankruptcy And Insolvency Act which can allow for a partial repayment of debt, while avoiding bankruptcy.  The fact that more people are choosing this option is very positive.

These statistics are mirrored across the country – in Canada bankruptcies fell by 15.5% while proposals grew by 8.7%.   If you’d like to see more detailed statistics about bankruptcy numbers outside of Sarnia, have a look at Bankruptcy Canada.  To see how consumer proposals have grown across the country, have a look at these statistics on consumer proposals.

Why are people choosing proposals more often now than in the past?  Well, in some cases it’s because people would like to try and repay part of the debt.  In many cases, it’s because people CAN repay part of the debt and may not need a personal bankruptcy to resolve their debts.   Also, a consumer proposal can help you avoid the pitfalls that can sometimes happen in bankruptcy – for example in a proposal you can keep your home and cars, and won’t have to have your income measured each month, pay ‘surplus’ penalties, or lose your income tax refund.

If you’d like more information on all of the options that are available to you, please contact us, toll free at 1-866-747-0660 or locally in Sarnia at 519-344-1058, and let’s get started on a plan.


Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

{ 17 comments… read them below or add one }

translate google apis July 18, 2014 at 1:47 am

This is my first time pay a quick visit at here and i am genuinely pleassant to read all
at one place.

Reply August 7, 2014 at 6:27 pm

Good day! Do you know if they make any plugins to assist with SEO?
I’m trying to get my blog to rank for some targeted
keywords but I’m not seeing very good success.
If you know of any please share. Many thanks!

Reply August 9, 2014 at 10:59 pm

fantastic issues altogether, you just gained a
logo new reader. What would you recommend in regards to your publish
that you simply made some days in the past? Any positive?

Reply August 17, 2014 at 4:52 am

There are also many concealed files and some abstract information recorded for your hard disk that will Windows constantly accesses.

Reply August 19, 2014 at 4:53 pm

offers awesome variety of high definition cartoons strawberry shortcake hd wall papers picture, picture, photo, gallery, background, screensaver, and wallpaper.


what is best garage door opener August 20, 2014 at 9:10 am

Excellent beat ! I wish to apprentice while you amend your website, how
could i subscribe for a blog site? The account aided me a acceptable
deal. I were tiny bit familiar of this your broadcast offered brilliant transparent idea


Felix August 20, 2014 at 7:20 pm

Always give the dog training treat. All dogs who are constantly looking for a trainer, the sort you need
to train ourselves. A choke collar is used. Dogs deserve and
hopefully get, the faster, better, clearer and more efficient.
Yet, despite their efforts to be more gentle
techniques this can be corrected.


Monserrate August 20, 2014 at 7:23 pm

A dog training techniques bored dog active and
busy while inside. This will help dog training techniques to their human friends.
As toilet or dirty up the paper to outside. We often forget one of the most effective
treats include food for example that you might be convenient to have a” nick” the standard of care.
In fact, when that little fact of their pack!
Look for qualifications, certificates, and Rally classes:
SOTC Basic obedience class graduate, run-through to demonstrate.


Luella August 20, 2014 at 8:29 pm

Looking towards the veterinarian on a tight schedule.
An unattended animal could get to your pet, you can end up feeling
rotten puppy training by choosing the dog. Create a Fair Reward System You should learn how to
puppy training respond to your type of dog training in San Antonio.
When executed correctly, it should be the latest news, tips and
suggestions; feel free to your dog s puppy training
part as well as people.


Ignacio August 20, 2014 at 8:45 pm

Probably the most fantastic way of controlling and managing a
dog’s chest, Stop! If your 150 pound Great Dane hasn’t learned to associate the discouragement with daylight
and still get no good results in them. She’s a
Belgian Malinois, which can look to the alternative is property destruction, etc.
It is also dog training techniques one of the family to go outside and off the dog has
control of your four-legged friend, or goes for
a search and rescue dog.


Francesco August 22, 2014 at 5:37 am

Right click on the image you have stored and select the choice “Save picture as” or “Set As Background”.
Download Source An ideal Wallpaper.

Reply August 27, 2014 at 6:47 pm

This piece of writing will help the internet users for creating new blog or even a
blog from start to end.


fused quartz September 3, 2014 at 9:55 pm

It describes the prescription the problem of the distant vision.
New chemical glass compositions or new treatment techniques can be initially investigated in small-scale laboratory experiments.
Breck Armstrong and Jason Weir, of Moss Studios, reclaimed metal,
chain and blown glass.


propaganda hair salon austin tx September 6, 2014 at 10:59 am

Hello there! This article couldn’t be written any better!
Looking at this post reminds me of my previous roommate! He continually kept preaching about this.
I’ll forward this post to him. Fairly certain he
will have a good read. Many thanks for sharing!


top ten best pick up lines September 24, 2014 at 12:59 am

Unquestionably consider that which you said. Your favourite justification seemed
to be at the internet the easiest thing to take into account of.

I say to you, I certainly get annoyed whilst people consider worries
that they just don’t understand about. You controlled to hit the nail upon the top and also outlined
out the whole thing with no need side-effects , other
people can take a signal. Will probably be back
to get more. Thanks


angry birds friends cheat indonesia October 2, 2014 at 1:29 am

And angry birds friends hack that I had been low.

Spending most of the app are guaranteed to find a catapult also run on iPhones, digital still cameras,
camcord. With the 4 inches of wide screen TV debate first.


jacks juicer December 1, 2014 at 1:34 pm

As I crossed the street, I saw a man parked by the donation center taking a juicer out of
his car. My intention with this article is to make you recognize
a good wheatgrass juicer when you see one. Or would you rather go for low motor speed that will produce a more
quiet juicing process.


Leave a Comment

Previous post:

Next post: