The insolvency statistics have been released by the Office of the Superintendent of Bankruptcy (OSB) for the year 2015.If the worst is yet to come for the Newfoundland economy then these numbers are not encouraging.

The insolvency statistics have been released by the Office of the Superintendent of Bankruptcy (OSB) for the year 2015.

If the worst is yet to come for the Newfoundland economy then these numbers are not encouraging:

– Total insolvency filings (bankruptcies and proposals) up 17.4% for 2015 compared to 2014

– For the fourth quarter of 2015 total insolvency filings were up 26.2% compared to the fourth quarter of 2014

If you are struggling with a debt load that you cannot manage you are not alone. Seek advice from someone you trust such as a Licensed Insolvency Professional (Trustee in Bankruptcy) like myself.

For more details follow the link to the OSB’s website.