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With its universities, high tech companies, insurance companies and manufacturing and service sectors Kitchener has a relatively diversified economy, so in most years the bankruptcy rate does not fluctuate as wildly as it does in other cities in Ontario and Canada.
However, since 2003 approximately 1,500 individuals become personally insolvent each year. These Kitchener bankruptcy statistics include residents of the Kitchener, Waterloo and Cambridge Ontario area that file a personal bankruptcy or a consumer proposal.
In contrast approximately 40,000 individuals file bankruptcy or a consumer proposal in Ontario each year, and over 100,000 people file bankruptcy or a consumer proposal in Canada each year.
These Kitchener bankruptcy statistics show that if you are having financial trouble, you are not alone. Many other people get into financial trouble and need bankruptcy protection to deal with their debts.
If you have questions about these Kitchener bankruptcy statistics, or if you have any other questions about Kitchener bankruptcy, read our Kitchener bankruptcy blog, email us a question, or contact our Kitchener bankruptcy trustee, Hoyes Michalos & Associates Inc. at (519) 747-0660 or 310-PLAN.
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