Canadian Insolvencies Archives - Better Dwelling

Canadian Business Insolvencies Hit 10-Year High, Consumer Filings Drop

Daniel Wong — Wed, 08 Nov 2023 21:10:15 +0000

Canadian credit is normalizing after an epic binge, and it’s presenting some red flags. Office of the Superintendent of Bankruptcy (OSB) data showed a downtick for Q3 insolvency filings. The drop was mostly seasonal, with the volume still trending towards pre-pandemic levels. That may sound like a return to normal, but there’s one big change—insolvency […]

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Canadian Business Insolvencies Rip Higher, Not Even Real Estate Is Immune

Daniel Wong — Tue, 02 May 2023 18:19:09 +0000

Canadian business insolvencies are back with a fury. Business insolvency filings with the Office of The Superintendent of Bankruptcy (OSB) climbed sharply in February. The number of businesses seeking creditor relief is now back to normal levels, before pandemic relief was rolled out. The problem is these aren’t supposed to be normal times, but a […]

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Canadian Consumer Insolvencies Jump Over 22% Higher, Still Below 2019-Levels

Daniel Wong — Wed, 09 Nov 2022 20:03:31 +0000

Canadian households are facing a trifecta of problems—rising rates, soaring inflation, and lots of debt. Office of the Superintendent of Bankruptcy Canada (OSB) data predictably shows rising insolvencies for September. However, even with a sharp climb, insolvency filings have yet to reach 2019 levels. Households are increasingly feeling the pressure of debt, but we’re still […]

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Ontario Consumer Insolvencies Jump Higher With The Lion’s Share In Toronto

Kaitlin Last — Fri, 05 Aug 2022 18:30:17 +0000

Canada’s debt problem hit the pause button on consequences for the past couple years, but it’s back. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a sharp uptick for consumer insolvencies in Q2 2022. The province’s biggest cities carried most of the growth, even making up for the drops seen in some smaller […]

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Canadian Consumer Insolvencies Are On The Rise, But Still Below Typical Levels

Kaitlin Last — Mon, 11 Jul 2022 17:06:21 +0000

A lot more Canadians are suddenly seeking protection from lenders, but no need to ring the alarm — yet, at least. Consumer insolvency filings climbed in May, shows Office of the Superintendent of Bankruptcy (OSB) data. It was a substantial increase too, possibly raising concerns about rising rates. While volumes are rising, a base effect […]

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Canadian Businesses Are Going Broke At An Unusually Fast Rate Due To Inflation

Daniel Wong — Thu, 19 May 2022 18:03:07 +0000

Canadian business insolvencies are back after being quiet over the past few years. Data from the Office of the Superintendent of Bankruptcy Canada (OSB) shows business insolvencies jumped in Q1 2022. High inflation and withdrawal of support drove filings back to early 2020 levels. Experts see this as the beginning of a bigger trend, with […]

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Toronto and Vancouver Insolvencies Make The Biggest Jump In Years

Daniel Wong — Mon, 17 May 2021 22:31:00 +0000

Toronto and Vancouver are both seeing an unusual surge of insolvency filings. Office of the Superintendent of Bankruptcy Canada (OSB) filings show a huge jump in March. Insolvencies, both bankruptcies, and consumer proposals, hit the highest level since the pandemic. Toronto Insolvencies Jump 22% In March Toronto insolvencies made an abrupt jump, claiming the biggest […]

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Canadian Consumer Insolvencies Soar 28%, Biggest Monthly Jump In Over 10 Years

Daniel Wong — Fri, 14 May 2021 02:08:39 +0000

The Canadian economy is picking up speed, and so is the number of consumer insolvencies. Office of the Superintendent of Bankruptcy (OSB) data shows March saw a sudden increase in filings. The unexpected monthly increase was the biggest in almost a decade. Consumer insolvencies are now at the highest level since the pandemic first began. […]

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Canadian Insolvencies Begin To Rise, Even With Support Measures In Place

Daniel Wong — Mon, 09 Nov 2020 20:11:52 +0000

Canada is pulling all of the measures to make sure households and businesses don’t go bust, but it’s just time for some. Office of the Superintendent of Bankruptcy (OSB) data shows insolvencies increased in Q3 from the previous quarter. The quarterly increase is somewhat surprising, considering the number of lender support programs. Canadian Insolvencies Rise […]

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Bank of Canada: Mortgages In Arrears Expected To Triple, But It Could Be Worse

Stephen Punwasi — Fri, 15 May 2020 14:16:20 +0000

Canada’s mortgage apocalypse isn’t going to be fun, but it could have been a lot worse. The Bank of Canada (BoC) released its model on mortgages in arrears this week. Through a combination of monetary policy and bank generosity, mortgages in arrears are still expected to rise to record highs. However, without the policies implemented, […]

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