Tuesday, October 13
Canadian debt & insolvency news, explained. Written by Licensed Insolvency Trustees.
Law & Policy
A Senate bill introduced Oct. 7 would create simplified bankruptcy and proposal procedures for micro and small corporations. The details that matter are still to come by regulation.
Insolvency Data
Canada recorded 146,135 consumer insolvencies in the 12 months to August — about 400 a day. Bankruptcies are up 9.5%, and that shift matters.
Small Business
Business loan delinquencies just hit their highest level since 2019. But business proposals are up 30% — a sign owners are fighting to survive.
Insolvency Data
The federal insolvency regulator's profile of 2024 filers shows a median monthly shortfall of $175 and income loss as the top cause. Here is what the numbers say.
Household Debt
Statistics Canada reports employment fell for a second straight month. With loss of income the top reason Canadians file for insolvency, early action on debt matters.
Rates & Economy
The policy rate has sat at 2.25% since September and tariffs are pushing on prices. Here's what that means for card balances, lines of credit and mortgage renewals.
