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Manitoba Consumer Proposal

For a time, residents of Manitoba had some of the lowest borrowing rates in Canada. The province even ranked number 10 for average consumer debt in 2017, being one of the lowest levels of debt per capita in the entire country. Manitoba also maintains the smallest growth in the number of residents enrolling in consumer proposals and other debt solutions. This apparently indicated a disinclination to take on new credit card debt, installment loans, and other forms of consumer indebtedness, thereby contributing to the overall economic health of the province. Statistics show that that might be changing. Manitoba is slowly seeing an increase in insolvencies and other forms of debt. In fact, in the last ten years, the number of consumer proposals in Manitoba has more than doubled.

An excessive amount of consumer debt, we must remember, is a threat to one’s long-term financial health even if the interest rate charged on it is relatively small. As debt increases, so does the likelihood of default. That is why so many Manitobans are turning to debt solutions like the consumer proposal.

Insolvency & Consumer Proposal Statistics in Manitoba

  Manitoba Nationwide
  Insolvency Consumer
Proposal
Insolvency Consumer
Proposal
Q3 ’22 755 548 25,860 19,579
Q2 ’22 704 509 25,286 18,776
Q1 ’22 574 444 23,153 17,178
Q4 ’21 658 452 22,999 15,928
Q3 ’21 614 414 21,649 14,909
Q2 ’21 645 435 23,497 15,696
Q1 ’21 613 428 23,824 16,504
Q4 ’20 591 404 23,364 15,509
Q3 ’20 557 357 20,692 13,350
Q2 ’20 585 415 19,151 12,741
Q1 ’20 794 564 33,212 21,769
Q4 ’19 837 534 35,139 21,613

Source: https://www.ic.gc.ca/

Annual Consumer Insolvency Rates in Manitoba

(Per 1,000 Population Aged 18 Years and Older)

Manitoba
  ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21
Insolvency 2.0 2.0 2.0 2.2 2.7 2.7 2.9 3.2 2.5 2.4
Proposal 0.7 0.7 0.7 0.9 1.2 1.3 1.5 1.8 1.7 1.6
Southeast
Insolvency 1.6 1.9 1.5 1.9 2.0 2.5 2.5 2.7 2.1 1.7
Proposal 0.5 0.6 0.5 0.5 0.9 0.9 1.3 1.4 1.3 1.0
Southwest
Insolvency 2.4 2.8 3.0 3.4 3.7 3.5 3.4 4.1 3.0 3.1
Proposal 0.9 1.3 1.5 1.8 2.0 1.9 1.8 2.5 2.0 2.1
Winnipeg
Insolvency 2.2 2.0 2.0 2.3 2.9 2.8 3.1 3.3 2.7 2.4
Proposal 0.7 0.7 0.7 0.9 1.2 1.4 1.6 2.0 1.9 1.7
Interlake
Insolvency 1.4 1.4 1.4 1.4 1.9 1.8 2.1 2.6 1.8 1.7
Proposal 0.4 0.5 0.5 0.5 0.8 0.7 0.9 1.4 1.2 1.1
Parklands and North
Insolvency 2.3 2.0 2.3 2.8 2.9 2.6 2.5 2.6 2.8 3.6
Proposal 0.9 0.7 1.0 1.3 1.2 1.3 1.3 1.4 1.6 2.6
South Central*
Insolvency 1.5 1.4                
Proposal 0.3 0.4                
North Central*
Insolvency 1.4 1.7                
Proposal 0.5 0.5                
South Central and North Central*
Insolvency     1.9 1.5 2.3 2.1 2.2 2.4 1.8 2.0
Proposal     0.6 0.5 0.8 1.0 1.1 1.3 1.2 1.3

Source: https://www.ic.gc.ca/
* In 2014, Statistics Canada’s Labour Force Survey combined the following economic regions (ERs): South Central and North Central.

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