Canada Consumer Insolvency Trends
Ken Rowan
March 28, 2024
Full site: debtsgo.ca
Data to February 2024. For data source see notes
following.
Canada
Monthly Trend
Consumer insolvencies were up 7.0% from January and are up 22.5% year-over-year.
Growth
Rural vs Urban
Consumer Proposals
CPs represented an all-time high 80.3% of all February consumer insolvencies.
Provincial
Monthly Growth
Annual Growth
Regions / Municipal Areas
Current Month vs. Mean
| CMA.Region | Current.Month | Mean | Current.Month.Over.Mean |
|---|---|---|---|
| Greater Toronto Area | 1823 | 1311.2 | 139.0% |
| Montreal - CMA | 1290 | 1302.8 | 99.0% |
| Edmonton - CMA | 549 | 374.5 | 146.6% |
| Vancouver Metro | 525 | 408.1 | 128.7% |
| Calgary - CMA | 497 | 378.3 | 131.4% |
| Ottawa-Gatineau - CMA | 368 | 349.0 | 105.4% |
| Quebec City - CMA | 224 | 198.9 | 112.6% |
| Hamilton - CMA | 218 | 153.9 | 141.6% |
| London - CMA | 214 | 188.5 | 113.5% |
| Winnipeg - CMA | 202 | 142.5 | 141.7% |
| Kitchener - Cambridge -Waterloo - CMA | 171 | 146.6 | 116.7% |
| St. Catharines - Niagara - CMA | 148 | 104.2 | 142.0% |
| Halifax - CMA | 122 | 134.8 | 90.5% |
| Barrie - CMA | 119 | 101.4 | 117.4% |
| Windsor - CMA | 111 | 89.8 | 123.7% |
| Victoria - CMA | 107 | 81.3 | 131.5% |
| Sherbrooke - CMA | 106 | 86.1 | 123.1% |
| St. John’s - CMA | 103 | 92.4 | 111.4% |
| Greater Sudbury - CMA | 99 | 89.8 | 110.2% |
| Regina - CMA | 95 | 61.4 | 154.7% |
| Saskatoon - CMA | 85 | 62.6 | 135.7% |
| Belleville-Quinte West - CMA | 78 | 55.6 | 140.3% |
| Trois Rivieres - CMA | 76 | 59.7 | 127.4% |
| Kelowna - CMA | 75 | 54.1 | 138.7% |
| Peterborough - CMA | 75 | 49.6 | 151.1% |
| Kamloops - CMA | 67 | 43.6 | 153.6% |
| Moncton - CMA | 64 | 70.4 | 90.9% |
| Saint John - CMA | 56 | 56.5 | 99.1% |
| Lethbridge - CMA | 54 | 34.9 | 154.9% |
| Kingston - CMA | 53 | 44.0 | 120.5% |
| Abbotsford - CMA | 51 | 38.0 | 134.3% |
| Brantford - CMA | 49 | 33.4 | 146.7% |
| Guelph - CMA | 40 | 30.0 | 133.4% |
| Thunder Bay - CMA | 40 | 34.0 | 117.5% |
| Chilliwack - CMA | 34 | 21.4 | 158.9% |
| Fredericton - CMA | 32 | 40.8 | 78.5% |
| Nanaimo - CMA | 30 | 28.8 | 104.1% |
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 | Current.Month.Over.Mean |
|---|---|---|---|---|---|---|
| J0K | Lanaudiere-Nord (Saint-Esprit) | Rural Area | QC | 73 | 72.0 | 101.4% |
| K0K | Quinte Shores | Rural Area | ON | 41 | 26.6 | 154.1% |
| T5T | Edmonton West (West Jasper Place / West Edmonton Mall) | Edmonton | AB | 39 | 26.4 | 147.6% |
| H1G | Montreal North North | Montreal | QC | 35 | 22.7 | 154.4% |
| L7A | Brampton West | Brampton | ON | 34 | 20.2 | 168.0% |
| T2A | Calgary (Penbrooke Meadows / Marlborough) | Calgary | AB | 34 | 30.4 | 111.9% |
| J8P | Gatineau Southeast | Gatineau | QC | 32 | 25.3 | 126.3% |
| L9T | Milton | Milton | ON | 32 | 18.1 | 176.5% |
| M1B | Scarborough (Malvern / Rouge River) | Toronto | ON | 32 | 20.6 | 155.5% |
| J0L | Monteregie-Nord (Saint-Antoine-Sur-Richelieu) | Rural Area | QC | 31 | 32.9 | 94.3% |
| L4N | Barrie South | Barrie | ON | 31 | 34.8 | 89.1% |
| M1K | Scarborough (Kennedy Park / Ionview / East Birchmount Park) | Toronto | ON | 31 | 16.1 | 192.4% |
| T6W | Edmonton (Heritage Valley) | Edmonton | AB | 31 | 18.0 | 172.5% |
| G0A | Capitale-Nationale (Stoneham) | Rural Area | QC | 30 | 27.4 | 109.3% |
| G0X | Mauricie (Parent) | Rural Area | QC | 30 | 19.4 | 154.8% |
Top % Annual Gainers
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|---|
| H1P | Saint-Leonard North | Montreal | QC | 76 | 35 | 85.4% |
| J8V | Gatineau Northwest | Gatineau | QC | 82 | 36 | 78.3% |
| N5R | St. Thomas South | St. Thomas | ON | 164 | 72 | 78.3% |
| L0S | Niagara Regional Municipality (Fonthill) | Rural Area | ON | 126 | 55 | 77.5% |
| R2V | Winnipeg (Seven Oaks East) | Winnipeg | MB | 177 | 77 | 77.0% |
| L2N | St. Catharines Northwest | St. Catharines | ON | 118 | 51 | 76.1% |
| J8N | Val-des-Monts | Val-des-Monts | QC | 54 | 23 | 74.2% |
| B1H | New Waterford | New Waterford | NS | 73 | 31 | 73.8% |
| N2L | Waterloo South | Waterloo | ON | 114 | 48 | 72.7% |
| B6L | Truro | Truro | NS | 74 | 31 | 72.1% |
| P7E | Thunder Bay South Central | Thunder Bay | ON | 103 | 43 | 71.7% |
| L3X | Newmarket Southwest | Newmarket | ON | 116 | 48 | 70.6% |
| K7A | Smiths Falls | Smiths Falls | ON | 80 | 33 | 70.2% |
| J2K | Cowansville | Cowansville | QC | 93 | 38 | 69.1% |
| N6J | London (Southcrest / East Westmount / West Highland) | London | ON | 164 | 67 | 69.1% |
Top % Annual Losers
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Chg | YoY Pct Chg |
|---|---|---|---|---|---|---|
| P0L | Cochrane Region (Hearst) | Rural Area | ON | 63 | -30 | -32.3% |
| G0V | Saguenay-Lac-St-Jean (Alouette) | Rural Area | QC | 47 | -16 | -25.4% |
| E1X | Tracadie-Sheila | Tracadie-Sheila | NB | 62 | -18 | -22.5% |
| H7X | Sainte-Dorothee | Sainte-Dorothee | QC | 45 | -12 | -21.1% |
| S0J | Northern Saskatchewan (La Ronge) | Rural Area | SK | 92 | -22 | -19.3% |
| L8P | Hamilton (Durand / Kirkendall / Chedoke Park) | Hamilton | ON | 85 | -16 | -15.8% |
| T0B | Wainwright Region (Tofield) | Rural Area | AB | 173 | -32 | -15.6% |
| T0H | Northwestern Alberta (High Level) | Rural Area | AB | 177 | -26 | -12.8% |
| S0M | Northwestern Saskatchewan (Battleford) | Rural Area | SK | 122 | -17 | -12.2% |
| G6V | Levis North | Levis | QC | 122 | -15 | -10.9% |
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | NL | 69 | -8 | -10.4% |
| A1X | Conception Bay | Conception Bay | NL | 63 | -7 | -10.0% |
| V0J | Omineca and Yellowhead (Smithers) | Rural Area | BC | 121 | -13 | -9.7% |
| B4N | Kentville | Kentville | NS | 75 | -8 | -9.6% |
| K1K | Ottawa (Overbrook) | Ottawa | ON | 142 | -15 | -9.6% |
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 February 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