The most recent personal bankruptcy data from the Office of the Superintendent  of Bankruptcy Canada show that for last month for which data is available, the number of personal bankruptcies continues to decline, falling to 6,998 for January 2010. This is the lowest figure since April 2008 (6,977 personal bankruptcies) and substantially below the peak in September 2008 (12,305). It’s also inline with the pre-recession average (if we look at the period January 2002 to January 2008 for example, the average is 6,812per month).

Whether it will stay at this level remains to be seen. The strength and duration of any recovery will be the determining factors.