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Posted AT 9:42 AM EST on 05/09/08

Bankruptcies surge 17.2 per cent

The Canadian Press

OTTAWA — A swelling number of individual Canadians overwhelmed by their debts pushed bankruptcies up 17.2 per cent in July from a year earlier. The Office of the Superintendent of Bankruptcies said Friday there were 7,908 bankruptcies in July, up from 7,478 in June and 6,747 in July 2007. Personal bankruptcies rose 6.3 per cent from June and were 19 per cent higher from July last year. Business bankruptcies fell 1.

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