Why Are Bankruptcy Filings Increasing In Saskatchewan

Since last year, the Office of the Superintendant of Bankruptcy in Canada reported a 24% increase in the number of filings in Saskatchewan over the same 3 months in 2013 and 2014. This stat seems odd, given the increased economic activity in key industries and markets throughout the province. To understand some of the possible reasons for the jump in filings, Ian Schofield of MNP LTD., a Trustee in Regina for more than 25 years, offers three key reasons why and some countermeasures that can help consumers avoid financial issues.

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