2026 opens with a signal that cannot be ignored: insolvencies are rising again in Canada. According to Equifax’s latest first-quarter report, households remain under pressure when it comes to credit conditions.
Insolvencies increased by 18.8% compared to the same period in 2025, reaching their highest level since 2009. At the same time, total consumer debt climbed to CAD 2.66 trillion, marking a year-on-year increase.
There are signs of greater financial discipline among consumers, but higher interest rates and the cost of living continue to weigh heavily, particularly on more vulnerable households.
