Posted under Bankruptcy Kitchener
Despite a relatively robust economy, there were 1,529 residents of Kitchener, Ontario that filed a personal bankruptcy or a consumer proposal in the year 2005.
This was a decline from the record number of 1,582 Kitchener residents who filed in 2004.
Consumer filings declined 3.4% in 2005, as compared to a 3.1% increase in Ontario. This improved performance reflects strong employment results in Kitchener. Although the unemployment rate in Kitchener increased to 5.7%, this increase was largely due to increased participation in the work force. The participation rate increased to 72.8%, the highest rate since 1992.
Of course, a good economy does not solve all financial problems, so if you are suffering from financial distress, you can reach us at 310-PLAN (no area code required), or call us in Kitchener at 519-747-0660 for more information.
