Bankruptcy is something that affects thousands of people in Ontario every year. Every few years the Ontario Superintendent of Bankruptcy releases a set of detailed statistics about bankruptcies in the province. Every year, about 44000 Ontarians find themselves in a bankruptcy situation. Many leading causes for bankruptcy are personal issues, such as divorce or health related problems. Bankruptcy can lead to foreclosure or
power of sale. For your viewing pleasure, we’ve created an easy to ready infographic to display 2013’s bankruptcy statistics:
Statistics Source:
https://bankruptcy-ontario.org/bankruptcy-in-ontario/bankruptcy-statistics/Disclaimer: This article is provided for educational purposes only and does not constitute mortgage, legal, tax, financial, or investment advice. Mortgage products and lending criteria vary by lender and borrower circumstances. Readers should seek professional advice before making financial decisions.