US EditionYoung Canadians falling behind payments as debt divide widens, report shows
- About 1.4 million Canadians missed a credit payment in the second quarter, marking an increase of 118,000 missed payments from the previous year, according to an Equifax report.
- Younger consumers are affected the most by the affordability crisis, facing rising costs and employment uncertainty.
- Total consumer debt rose 3.1 percent year-over-year to $2.58 trillion, as reported by Equifax.
28 Articles
28 Articles
1.4 million Canadians missed a credit payment in the second quarter, report says
A new Equifax Canada report shows 1.4 million Canadians missed a credit payment in the second quarter. While that’s up by 118,000 compared with the same time last year, it’s down slightly from the first quarter.
Those aged 36 and under collect late payments
Canada’s Debt Time Bomb: Why Millennials and Gen Z Are Drowning in Credit - Commonwealth Union
Commonwealth_ Equifax Canada‘s latest report provides foreboding consumer debt and credit performance insights that outline moderate improvement in delinquency trends and mounting financial stress among select Canadian segments. In the second quarter of 2025, 1.4 million Canadians were delinquent on one or more credit payments. This number represents an increase of 118,000 compared to the same quarter in 2024. While modestly lower than the fir…
Equifax Canada: Delinquency levels stabilize in Q2, but financial divide widens among Canadians
In Q2 2025, close to 1.4 million Canadians missed a credit payment — 7,000 fewer than last quarter – but still 118,000 more than a year ago, said Equifax. The post Equifax Canada: Delinquency levels stabilize in Q2, but financial divide widens among Canadians appeared first on Retail Insider.
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