Consumer proposals spike in Sask. as more look to settle debt

Newly released statistics show the number of debt settlement proposals filed by consumers in Saskatchewan has nearly doubled in the last year.

The federal Office of the Superintendent of Bankruptcy says 80 consumer proposals were filed in the province in July. That’s an increase of nearly 82 per cent compared to a year earlier.

Ian Schofield, a trustee in bankruptcy with MNP Ltd. in Regina, says while the increase in consumer proposals in Saskatchewan is expected to continue, the numbers must be kept in perspective.

“The number of filings, relatively speaking to the rest of the country, is pretty low,” Schofield said Tuesday.

“But we are generally seeing a bit of an increase as the economy does slow a little bit.”

Nationally, the number of consumer proposals rose 13 per cent compared to July 2013.