Personal bankruptcies up 50 percent in December
TORONTO (Reuters) - Personal bankruptcy filings in Canada rose more than 50 percent in December from the same month of 2007, according to data released on Monday, a trend that parallels a jump in unemployment and consumer debt as the economy slid into recession.
Figures released by the Office of the Superintendent of Bankruptcy Canada also showed that bankruptcies filed by businesses increased by just 2.4 percent over the same period.
Total bankruptcies in Canada last year rose 12.3 percent over 2007, an increase driven by personal insolvencies as business bankruptcies dropped 2 percent year over year.
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