Troubles facing the oilpatch are linked to a a rise in delinquency rates for non-mortgage loans in Canada.
Credit monitoring agency TransUnion says the number of loans past due 90 days or more rose to 2.52% in the first three months of the year compared to 2.45% for the first quarter of 2015. TransUnion says that can be largely blamed on the Alberta downturn. The past due rate increased to 2.8% from 2.5% a year ago in Alberta.
The agency says the average Canadian was carrying a non-mortgage debt around $21,350, up $600 from the same period a year ago. Debt levels were higher for car loans, credit cards and instalment loans. Lines of credit were lower.