Are Canadians reaching their ’breaking point’? New data shows more people filing for insolvency

RCI

First 3 months of 2026 saw the highest number of insolvencies since 2009

More Canadians are filing for insolvency, according to the latest data from the Office of the Superintendent of Bankruptcy, as rising costs stretch consumers to their limits.

Some 37,121 Canadians filed for insolvency (new window) in the first quarter of 2026 — the highest number of consumer insolvencies since 2009, when North America was reeling from the financial crisis (new window).

Compared to the same time period last year, insolvencies are up 8.5 per cent….

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