BC Consumer Insolvency Trends
Ken Rowan
May 3, 2024
Full site: debtsgo.ca
Data to
March 2024. For data source see notes following.
BC
Monthly Trend
Consumer insolvencies were up 4.1% from February and up 23.4% year-over-year.
File Growth
Annual Growth Rate
Although BC experienced a significant decline in its annual rate of growth of consumer insolvencies in March 2024 it remained positive at 0.2%, its lowest 12-month rate of growth since April 2022.
Rural vs Urban
Consumer Proposals
CPs represented 84.7% of all March consumer insolvencies.
Cities
Most Active
Top Annual Gainers (%)
Lowest Annual Gainers (%)
10-Year Monthly Highs and Lows
New Highs
New Lows - none
Major Cities: Monthly Growth
Major Cities: Yearly Growth
Vancouver & Surrey
Forward Sortation Areas
BC has 193 FSAs. Those averaging less than 6 monthly consumer insolvencies are filtered out, leaving 51 FSAs.
Most Actives
| FSA | FSA.Place.Name | City | CurrentMonth | Mean | Current.Month.Over.Mean |
|---|---|---|---|---|---|
| V0E | Central Okanagan and High Country (Revelstoke) | Rural Area | 23 | 13.1 | 176.2% |
| V2R | Chilliwack West | Chilliwack | 23 | 9.6 | 240.2% |
| V1Y | Kelowna Central | Kelowna | 21 | 10.3 | 204.4% |
| V2P | Chilliwack Central | Chilliwack | 21 | 11.3 | 186.4% |
| V4C | Delta Northeast | Delta | 21 | 7.9 | 265.0% |
| V4N | Surrey Northeast | Surrey | 21 | 13.1 | 160.0% |
| V3W | Surrey Upper West | Surrey | 20 | 16.1 | 124.0% |
| V2S | Abbotsford Southeast | Abbotsford | 19 | 12.2 | 155.6% |
| V3S | Surrey East | Surrey | 19 | 17.6 | 107.8% |
| V0R | Central Island (Chemainus) | Rural Area | 18 | 14.0 | 128.3% |
| V2T | Abbotsford Southwest | Abbotsford | 18 | 11.4 | 158.2% |
| V3T | Surrey Inner Northwest | Surrey | 18 | 12.1 | 148.9% |
| V5E | Burnaby (Lakeview-Mayfield / Richmond Park / Kingsway-Beresford) | Burnaby | 17 | 4.4 | 382.0% |
| V0N | North Island | Rural Area | 15 | 10.3 | 145.7% |
| V2A | Penticton | Penticton | 15 | 10.7 | 140.3% |
Top Annual Gainers (%)
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|
| V5N | Vancouver (South Grandview-Woodlands / NE Kensington) | Vancouver | 99 | 37 | 59.7% |
| V2Y | Langley Township Northwest | Langley | 133 | 46 | 52.9% |
| V2A | Penticton | Penticton | 180 | 60 | 50.0% |
| V1X | Kelowna East Central | Kelowna | 142 | 42 | 42.0% |
| V8T | Victoria North | Victoria | 78 | 23 | 41.8% |
| V2P | Chilliwack Central | Chilliwack | 201 | 59 | 41.5% |
| V3J | Coquitlam North | Coquitlam | 113 | 33 | 41.2% |
| V0H | South Okanagan (Summerland) | Rural Area | 131 | 38 | 40.9% |
| V3C | Port Coquitlam South | Port Coquitlam | 102 | 29 | 39.7% |
| V3R | Surrey North | Surrey | 251 | 68 | 37.2% |
| V3A | Langley City | Langley | 182 | 49 | 36.8% |
| V2N | Prince George South | Prince George | 99 | 26 | 35.6% |
| V6G | Vancouver (North West End / Stanley Park) | Vancouver | 107 | 28 | 35.4% |
| V9T | Nanaimo North | Nanaimo | 122 | 30 | 32.6% |
| V0R | Central Island (Chemainus) | Rural Area | 193 | 46 | 31.3% |
Lowest Annual Gainers (%)
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Chg | YoY Pct Chg |
|---|---|---|---|---|---|
| V9A | Esquimalt | Esquimalt | 156 | -12 | -7.1% |
| V2T | Abbotsford Southwest | Abbotsford | 142 | -9 | -6.0% |
| V2X | Maple Ridge West | Maple Ridge | 152 | -9 | -5.6% |
| V9R | Nanaimo South | Nanaimo | 130 | -6 | -4.4% |
| V2V | Mission East | Mission | 112 | 1 | 0.9% |
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