Canada Consumer Insolvency Trends
Ken Rowan
May 3, 2024
Full site: debtsgo.ca
Data to March 2024. For data source see notes
following.
Canada
Monthly Trend
Consumer insolvencies were up 0.1% from February and are up 19.3% year-over-year, a falling rate of change illustrated later.
Growth
Annual Growth Rate
In March 2024 Canada experienced a significant drop in its 12-month rate of growth of consumer insolvencies, becoming negative for the first time since April 2022.
Rural vs Urban
Consumer Proposals
CPs represented 79.4% of all March 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 | 1933 | 1314.5 | 147.1% |
| Montreal - CMA | 1237 | 1299.5 | 95.2% |
| Vancouver Metro | 581 | 409.0 | 142.1% |
| Edmonton - CMA | 533 | 377.0 | 141.4% |
| Calgary - CMA | 495 | 380.4 | 130.1% |
| Ottawa-Gatineau - CMA | 383 | 348.6 | 109.9% |
| London - CMA | 251 | 188.8 | 133.0% |
| Quebec City - CMA | 226 | 199.4 | 113.3% |
| Hamilton - CMA | 219 | 153.9 | 142.3% |
| Winnipeg - CMA | 206 | 143.5 | 143.5% |
| Kitchener - Cambridge -Waterloo - CMA | 190 | 146.7 | 129.5% |
| St. Catharines - Niagara - CMA | 145 | 104.4 | 138.9% |
| Barrie - CMA | 135 | 101.3 | 133.3% |
| Halifax - CMA | 123 | 134.6 | 91.4% |
| St. John’s - CMA | 117 | 92.8 | 126.1% |
| Windsor - CMA | 102 | 89.7 | 113.7% |
| Greater Sudbury - CMA | 96 | 89.8 | 106.9% |
| Saskatoon - CMA | 95 | 63.1 | 150.6% |
| Regina - CMA | 93 | 61.9 | 150.3% |
| Victoria - CMA | 80 | 81.3 | 98.4% |
| Belleville-Quinte West - CMA | 73 | 55.5 | 131.5% |
| Sherbrooke - CMA | 72 | 86.1 | 83.6% |
| Kamloops - CMA | 64 | 43.9 | 145.7% |
| Kelowna - CMA | 64 | 54.0 | 118.4% |
| Moncton - CMA | 62 | 70.3 | 88.2% |
| Abbotsford - CMA | 60 | 38.1 | 157.5% |
| Trois Rivieres - CMA | 59 | 59.6 | 98.9% |
| Peterborough - CMA | 53 | 49.6 | 106.9% |
| Brantford - CMA | 50 | 33.4 | 149.7% |
| Saint John - CMA | 47 | 56.5 | 83.2% |
| Kingston - CMA | 46 | 43.9 | 104.8% |
| Chilliwack - CMA | 45 | 21.6 | 208.8% |
| Guelph - CMA | 43 | 30.1 | 142.9% |
| Lethbridge - CMA | 42 | 35.0 | 120.1% |
| Fredericton - CMA | 41 | 40.7 | 100.7% |
| Thunder Bay - CMA | 39 | 34.1 | 114.5% |
| Nanaimo - CMA | 37 | 28.9 | 128.0% |
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
March 2024 consumer insolvencies in the GTA are up 6.0% from February.
Major Cities
Monthly Growth Rates
Yearly Growth Rates
10-Year Monthly Highs and Lows
New Highs
New Lows - none
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 | 88 | 71.9 | 122.3% |
| J0L | Monteregie-Nord (Saint-Antoine-Sur-Richelieu) | Rural Area | QC | 42 | 32.8 | 127.9% |
| M2R | Willowdale West | Willowdale | ON | 40 | 16.5 | 242.7% |
| K0K | Quinte Shores | Rural Area | ON | 39 | 26.6 | 146.7% |
| L4N | Barrie South | Barrie | ON | 37 | 34.7 | 106.7% |
| J8P | Gatineau Southeast | Gatineau | QC | 36 | 25.3 | 142.4% |
| L4M | Barrie North | Barrie | ON | 36 | 17.9 | 201.4% |
| G0S | Chaudiere-Nord (Saint-Joseph-De-Beauce) | Rural Area | QC | 33 | 20.3 | 162.4% |
| M3N | North York (Jane and Finch) | Toronto | ON | 33 | 18.8 | 175.4% |
| T5T | Edmonton West (West Jasper Place / West Edmonton Mall) | Edmonton | AB | 33 | 26.6 | 124.1% |
| L7A | Brampton West | Brampton | ON | 32 | 20.3 | 157.8% |
| M1B | Scarborough (Malvern / Rouge River) | Toronto | ON | 31 | 20.5 | 151.0% |
| G0R | Appalaches (La Pocatiere) | Rural Area | QC | 30 | 21.7 | 138.0% |
| J7Y | Saint-Jerome North | Saint-Jerome | QC | 30 | 19.3 | 155.4% |
| L6Y | Brampton South | Brampton | ON | 30 | 19.9 | 150.4% |
Top Annual Gainers (%)
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|---|
| N2L | Waterloo South | Waterloo | ON | 120 | 59 | 96.7% |
| K7A | Smiths Falls | Smiths Falls | ON | 87 | 42 | 93.3% |
| H1P | Saint-Leonard North | Montreal | QC | 79 | 35 | 79.5% |
| H7P | Fabreville | Fabreville | QC | 126 | 55 | 77.5% |
| J8N | Val-des-Monts | Val-des-Monts | QC | 58 | 25 | 75.8% |
| B1H | New Waterford | New Waterford | NS | 72 | 31 | 75.6% |
| J7J | Mirabel Northeast | Mirabel | QC | 152 | 64 | 72.7% |
| L0S | Niagara Regional Municipality (Fonthill) | Rural Area | ON | 130 | 54 | 71.1% |
| L4P | Keswick | Keswick | ON | 136 | 56 | 70.0% |
| H7L | Sainte-Rose | Sainte-Rose | QC | 95 | 39 | 69.6% |
| J8V | Gatineau Northwest | Gatineau | QC | 79 | 32 | 68.1% |
| L4J | Thornhill West | Thornhill | ON | 123 | 49 | 66.2% |
| J5K | Saint-Colomban | Saint-Colomban | QC | 66 | 26 | 65.0% |
| P7E | Thunder Bay South Central | Thunder Bay | ON | 103 | 40 | 63.5% |
| N6E | London (South White Oaks / Central Westminster / East Longwoods / West Brockley) | London | ON | 134 | 52 | 63.4% |
Lowest Annual Gainers (%)
| FSA | FSA_Place_Name | City | Prov | Trailing.12.Months | YoY Chg | YoY Pct Chg |
|---|---|---|---|---|---|---|
| P0L | Cochrane Region (Hearst) | Rural Area | ON | 65 | -34 | -34.3% |
| G0V | Saguenay-Lac-St-Jean (Alouette) | Rural Area | QC | 46 | -19 | -29.2% |
| E1X | Tracadie-Sheila | Tracadie-Sheila | NB | 60 | -20 | -25.0% |
| B0S | West Annapolis County (Middleton) | Rural Area | NS | 51 | -16 | -23.9% |
| S0J | Northern Saskatchewan (La Ronge) | Rural Area | SK | 91 | -22 | -19.5% |
| T0B | Wainwright Region (Tofield) | Rural Area | AB | 170 | -38 | -18.3% |
| L8P | Hamilton (Durand / Kirkendall / Chedoke Park) | Hamilton | ON | 84 | -18 | -17.6% |
| N2A | Kitchener East | Kitchener | ON | 75 | -15 | -16.7% |
| H1X | Rosemont Central | Rosemont | QC | 105 | -20 | -16.0% |
| P0J | Timiskaming South (Temiskaming Shores) | Rural Area | ON | 68 | -13 | -16.0% |
| E3A | Fredericton North | Fredericton | NB | 100 | -18 | -15.3% |
| R0C | North Interlake (Stonewall) | Rural Area | MB | 80 | -14 | -14.9% |
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | NL | 65 | -11 | -14.5% |
| K2G | Nepean (Davidson Heights) | Nepean | ON | 103 | -16 | -13.4% |
| N8S | Windsor (Riverside) | Windsor ON | ON | 85 | -13 | -13.3% |
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 March 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