Consumer insolvencies have more than doubled since 2020

There were 8,600 consumer bankruptcies in Q2, up a whopping 13.5 per cent compared to the first quarter, and 10.3 per cent year-over-year.

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Insolvency levels continued to climb in the second quarter of this year, up nearly seven per cent compared with the same period in 2025, according to the Office of the Superintendent of Bankruptcy.

The 6.9 per cent increase marks the highest quarterly volume since 2009, after 37,523 Canadian consumers filed for insolvency in the second quarter. It paints a bleak economic picture, as that year was the highest ever on record for consumer insolvency filings.