NL Consumer Insolvency Trends
Ken Rowan
May 3, 2024
Full site: debtsgo.ca
Data to
March 2024. For data source see notes following.
Newfoundland & Labrador
Monthly Trend
Consumer insolvencies were down 1.6% from February and are up 13.2% year-over-year.
File Growth
Annual Growth Rate
Quebec experienced a significant decline in its annual rate of growth of consumer insolvencies in March 2024, its lowest 12-month rate of growth since April 2022.
Rural vs Urban
Consumer Proposals
CPs represented 75.8% of all March consumer insolvencies.
Cities
Most Active
10-Year Monthly Highs and Lows
New Highs - none
New Lows - none
Monthly Growth
Yearly Growth
St. John’s & Corner Brook
Forward Sortation Areas
NL has 33 FSAs. Those averaging less than 6 monthly consumer insolvencies are filtered out, leaving 12 FSAs.
Most Actives
| FSA | FSA.Place.Name | City | Current.Month | Mean | Current.Month.Over.Mean |
|---|---|---|---|---|---|
| A1E | St. John’s Central | St. John’s | 21 | 10.5 | 200.6% |
| A0A | Southeastern Avalon Peninsula (Ferryland) | Rural Area | 18 | 18.4 | 98.0% |
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 14 | 13.6 | 102.8% |
| A1X | Conception Bay | Conception Bay | 13 | 6.2 | 211.1% |
| A1C | St. John’s North Central | St. John’s | 12 | 4.5 | 268.7% |
Top Annual Gainers (%)
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|
| A2H | Corner Brook | Corner Brook | 126 | 36 | 40.0% |
| A1L | Paradise | Paradise | 95 | 23 | 31.9% |
| A0B | Western Avalon Peninsula (Argentia) | Rural Area | 97 | 23 | 31.1% |
| A1N | Mount Pearl | Mount Pearl | 135 | 31 | 29.8% |
| A0K | Northwest Newfoundland/Eastern Labrador (Mary’s Harbour) | Rural Area | 101 | 20 | 24.7% |
Lowest Annual Gainers (%)
| FSA | FSA_Place_Name | City | Trailing.12.Months | YoY Change | YoY Pct Chg |
|---|---|---|---|---|---|
| A0H | Central Newfoundland (Bishops Falls) | Rural Area | 65 | -11 | -14.5% |
| A0E | Burin Peninsula (Marystown) | Rural Area | 91 | -4 | -4.2% |
| A0G | Northeast Newfoundland (Lewisporte) | Rural Area | 172 | 5 | 3.0% |
| A1A | St. John’s North | St. John’s | 114 | 8 | 7.5% |
| A1X | Conception Bay | Conception Bay | 72 | 7 | 10.8% |
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