Its a sign of the good times for the B.C economy, but with a cautionary note.
Stats Can reporting in March, there was a decline of 24% in overall bankruptcies in the province compared to same month of 2017.
In fact, consumer bankruptcies also fell 23% in same time period.
“The coast isn’t clear. I think right now it just shows we are doing okay.”
The President of the Credit Counselling Society of B.C, Scott Hannah, with his perspective.
“I’m not surprised overall our economy is on track. Unemployment is low.We see gains in employment overall. I think it allows people greater opportunity and flexibility to keep on top of their payments. Our ongoing concern is the fact that we are still carrying an awful lot of debt.”
For Canada as a whole, bankruptcies went down by 13.9% in March, compared to the same month last year.