Personal Bankruptcy Canada, Inc.

Personal Bankruptcy Canada, Inc.

October 18, 2012 07:30 ET

Greater Access to Debt Management Resources Contributes to Year-Over-Year Decline in Canadian Insolvencies, According to Personal Bankruptcy Canada

Government Reports Nearly 13 Percent Reduction in Bankruptcy Filings in the First Half of 2012

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2012) -

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According to Personal Bankruptcy Canada, a network of financial and debt management resources, the recently reported decline in year-over-year consumer insolvencies in Canada can be indirectly attributed to the increased availability of and access to online debt management tools and expertise.

The Office of Superintendent of Bankruptcy Canada reported that personal bankruptcy filings declined 12.5 percent, and consumer proposals, a government-sponsored debt management option available to avoid bankruptcy, have increased 5.1 percent, year-over-year. The largest reduction in consumer insolvencies occurred in Nunavet (-62.5), followed by Yukon (-30.0) and Manitoba (-18.3).

"As evidenced by the numbers, Canadians are proactively researching and educating themselves on their debt management options," said David Smith, co-founder of Personal Bankruptcy Canada. "Networks like Personal Bankruptcy Canada are providing the resources people need to help them get back on the road to financial stability practically and quickly as possible."

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About Personal Bankruptcy Canada

Personal Bankruptcy Canada is free website that provides consumers with general debt and bankruptcy resources, including access to highly qualified bankruptcy trustees across the Canadian provinces and valuable education information on bankruptcy and debt management.

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