Alberta Insolvencies Spikes Up To 40 Percent

Based on a recent report that was released from the Office of the Superintendent of Bankruptcies, the rate of bankruptcy in Alberta has gone up over the year to June 2016. While the total rate for consumer insolvencies throughout the country went up by 7.7 percent over the years, Alberta has theirs increased by 39.9 percent making the number go up to 1,202. Back in June, the number was just at 50.

For others places like Saskatchewan, Yukon and Newfoundland & Labrador, their insolvencies increased over the years. However, the figures shown were way smaller for a start. Unlike in Alberta, where insolvencies rate seems to have spiked higher to 40 percent for now.

The other places that were lucky enough to experience decline in insolvencies over the years are places like Nunavut, BC, Northwest Territories and Brunswick. What we don’t know is whether or not insolvencies will continue to decline or take another turn.