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Bankruptcy numbers suggest more British Columbians running into money troubles

(iStock Photo)

VANCOUVER (NEWS 1130) – “Bankruptcy” and “creditors” are words none of us want to have to talk about when it comes to our personal finances, but its seems that’s the reality for more and more of us in this province.

The Office of the Superintendent of Bankruptcy is out with some new numbers, which have gone up in BC and across the country.

The increase of bankruptcies and proposals combined from consumers in BC was more than eight per cent between February of last year and February of this year.

The number of bankruptcies during that period actually went down, but the number of proposals to creditors went up by more than thirty percent.

Look at the difference between January and February this year, and the percentage of both bankruptcies and proposals in BC shot up.

Nationally, there were also big increases during that month-long period, and smaller ones between Feburary, 2015 and February, 2016.