Canada Consumer Insolvency Trends
Ken Rowan
March 5, 2024
Full site: debtsgo.ca
Data to January 2024. For data source see notes
following.
Canada
Monthly Trend
Consumer insolvencies were up 19.3% from December and are up 22.4% year-over-year.
Growth
Consumer Proposals
CPs represented 79.7% of all January consumer insolvencies, up slightly from December.
Provincial
Monthly Growth
Annual Growth
Regions / Municipal Areas
Current Month vs. Mean
| CMA.Region | Current.Month | Mean | Files.Over.Mean |
|---|---|---|---|
| Greater Toronto Area | 1768 | 1307.3 | 135.2% |
| Montreal - CMA | 1157 | 1305.4 | 88.6% |
| Edmonton - CMA | 537 | 371.7 | 144.5% |
| Vancouver Metro | 528 | 407.2 | 129.7% |
| Calgary - CMA | 457 | 375.9 | 121.6% |
| Ottawa-Gatineau - CMA | 342 | 348.4 | 98.2% |
| London - CMA | 253 | 188.5 | 134.2% |
| Hamilton - CMA | 215 | 153.6 | 140.0% |
| Quebec City - CMA | 210 | 198.6 | 105.7% |
| Winnipeg - CMA | 198 | 141.5 | 140.0% |
| Kitchener - Cambridge -Waterloo - CMA | 182 | 146.4 | 124.4% |
| St. Catharines - Niagara - CMA | 129 | 103.9 | 124.2% |
| Halifax - CMA | 121 | 135.0 | 89.6% |
| Barrie - CMA | 119 | 101.2 | 117.6% |
| Windsor - CMA | 99 | 89.8 | 110.2% |
| Greater Sudbury - CMA | 93 | 89.7 | 103.7% |
| Regina - CMA | 89 | 61.0 | 146.0% |
| Saskatoon - CMA | 86 | 62.3 | 138.1% |
| Kelowna - CMA | 85 | 54.0 | 157.4% |
| St. John’s - CMA | 82 | 92.0 | 89.1% |
| Victoria - CMA | 80 | 81.2 | 98.5% |
| Sherbrooke - CMA | 68 | 86.0 | 79.1% |
| Belleville-Quinte West - CMA | 60 | 55.5 | 108.2% |
| Peterborough - CMA | 60 | 49.5 | 121.1% |
| Kamloops - CMA | 58 | 43.4 | 133.5% |
| Lethbridge - CMA | 56 | 34.5 | 162.1% |
| Brantford - CMA | 54 | 33.3 | 162.2% |
| Saint John - CMA | 54 | 56.5 | 95.6% |
| Abbotsford - CMA | 53 | 38.0 | 139.5% |
| Trois Rivieres - CMA | 49 | 59.5 | 82.4% |
| Kingston - CMA | 47 | 44.0 | 106.9% |
| Moncton - CMA | 47 | 70.5 | 66.7% |
| Thunder Bay - CMA | 42 | 34.0 | 123.4% |
| Chilliwack - CMA | 40 | 21.3 | 188.1% |
| Fredericton - CMA | 34 | 41.0 | 83.0% |
| Guelph - CMA | 29 | 29.8 | 97.2% |
| Nanaimo - CMA | 27 | 28.8 | 93.8% |
Greater Toronto Area
The GTA includes City of Toronto, Don Mills, Downsview, Weston, Willowdale. Peel Region: Bolton, Brampton, Caledon, Mississauga. Durham Region: Ajax, Courtice, Oshawa, Pickering, Port Perry, Uxbridge, Whitby. Halton Region: Acton, Burlington, Georgetown, Milton, Oakville, Orangeville. York Region: Aurora, Concord, Holland Landing, Keswick, King City, Maple, Markham, Newmarket, Richmond Hill, Stouffville, Thornhill, Woodbridge.
Monthly Trend
Major Cities
Monthly Growth Rates
Yearly Growth Rates
10-Year Monthly Highs and Lows
New Highs
New Lows
Forward Sortation Areas
Canada has 1,648 FSAs. Those averaging less than 6 monthly consumer insolvencies are filtered out, leaving 639.
Most Actives
| FSA | FSA_Place_Name | City | Prov | Current.Month | Mean | Files.Over.Mean |
|---|---|---|---|---|---|---|
| J0K | Lanaudiere-Nord (Saint-Esprit) | Rural Area | QC | 75 | 72.1 | 104.0% |
| L4N | Barrie South | Barrie | ON | 49 | 34.8 | 140.7% |
| T5T | Edmonton West (West Jasper Place / West Edmonton Mall) | Edmonton | AB | 44 | 26.2 | 168.2% |
| L7A | Brampton West | Brampton | ON | 41 | 20.1 | 203.9% |
| J6E | Joliette | Joliette | QC | 40 | 22.1 | 180.8% |
| T5Y | Edmonton (Landbank / Oliver / East Lake District) | Edmonton | AB | 35 | 15.9 | 219.8% |
| T6W | Edmonton (Heritage Valley) | Edmonton | AB | 35 | 17.8 | 197.2% |
| T2A | Calgary (Penbrooke Meadows / Marlborough) | Calgary | AB | 34 | 30.3 | 112.3% |
| M3N | North York (Jane and Finch) | Toronto | ON | 32 | 18.7 | 171.4% |
| L1J | Oshawa Southwest | Oshawa | ON | 30 | 18.4 | 163.4% |
| K0K | Quinte Shores | Rural Area | ON | 29 | 26.6 | 109.2% |
| M1B | Scarborough (Malvern / Rouge River) | Toronto | ON | 29 | 20.5 | 141.5% |
| V3R | Surrey North | Surrey | BC | 29 | 15.8 | 183.8% |
| T4B | Airdrie West | Airdrie | AB | 28 | 18.2 | 153.6% |
| T3J | Calgary (Martindale / Taradale / Falconridge / Saddle Ridge) | Calgary | AB | 27 | 23.6 | 114.6% |
Top % Annual Gainers
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|---|
| J8N | Val-des-Monts | Val-des-Monts | QC | 53 | 25 | 89.3% |
| H7L | Sainte-Rose | Sainte-Rose | QC | 92 | 43 | 87.8% |
| N5R | St. Thomas South | St. Thomas | ON | 161 | 74 | 85.1% |
| L4A | Stouffville | Stouffville | ON | 100 | 45 | 81.8% |
| B1H | New Waterford | New Waterford | NS | 74 | 33 | 80.5% |
| P7E | Thunder Bay South Central | Thunder Bay | ON | 100 | 44 | 78.6% |
| H4R | Saint-Laurent Central | Saint-Laurent | QC | 65 | 28 | 75.7% |
| J2K | Cowansville | Cowansville | QC | 90 | 38 | 73.1% |
| R2V | Winnipeg (Seven Oaks East) | Winnipeg | MB | 173 | 73 | 73.0% |
| T2T | Calgary South (Altadore / Bankview / Richmond) | Calgary | AB | 121 | 51 | 72.9% |
| L0S | Niagara Regional Municipality (Fonthill) | Rural Area | ON | 123 | 51 | 70.8% |
| A1L | Paradise | Paradise | NL | 104 | 43 | 70.5% |
| N7M | Chatham Southeast | Chatham, ON | ON | 144 | 59 | 69.4% |
| G8B | Alma Southeast | Alma | QC | 115 | 47 | 69.1% |
| N6J | London (Southcrest / East Westmount / West Highland) | London | ON | 160 | 65 | 68.4% |
Top % Annual Losers
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Chg | YoY Pct Chg |
|---|---|---|---|---|---|---|
| P0L | Cochrane Region (Hearst) | Rural Area | ON | 65 | -27 | -29.3% |
| G0V | Saguenay-Lac-St-Jean (Alouette) | Rural Area | QC | 48 | -17 | -26.2% |
| J5T | Lavaltrie | Lavaltrie | QC | 54 | -17 | -23.9% |
| T0B | Wainwright Region (Tofield) | Rural Area | AB | 167 | -42 | -20.1% |
| G7B | La Baie | La Baie | QC | 52 | -13 | -20.0% |
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | NL | 65 | -15 | -18.8% |
| B0S | West Annapolis County (Middleton) | Rural Area | NS | 51 | -10 | -16.4% |
| S0J | Northern Saskatchewan (La Ronge) | Rural Area | SK | 92 | -18 | -16.4% |
| H7X | Sainte-Dorothee | Sainte-Dorothee | QC | 47 | -9 | -16.1% |
| T0H | Northwestern Alberta (High Level) | Rural Area | AB | 176 | -31 | -15.0% |
| M9A | Etobicoke (Islington Avenue) | Toronto | ON | 95 | -14 | -12.8% |
| E1B | Riverview | Riverview | NB | 80 | -11 | -12.1% |
| L8P | Hamilton (Durand / Kirkendall / Chedoke Park) | Hamilton | ON | 87 | -12 | -12.1% |
| T4A | Airdrie East | Airdrie | AB | 80 | -11 | -12.1% |
| J1G | Sherbrooke East | Sherbrooke | QC | 71 | -9 | -11.2% |
Notes
FSA and Forward Sortation Area are protected terms for the benefit of Canada Post Corporation.
Data source: The Office of the Superintendent of Bankruptcy (“OSB”), Innovation, Science and Economic Development Canada, data sets 2013 to January 2024, https://open.canada.ca/)
Consumer bankruptcies and consumer proposals are as defined by the BIA and the OSB. For definitions, see https://open.canada.ca/
Ken Rowan is a retired Licensed Insolvency Trustee and a retired CPA-CA, CA
Questions or Comments? Email debtsgo.ca