The data can be used to calculate average NMCD debt for people with a credit file, regardless of the balance. These data are not comparable with the NMCD values typically reported in the media, which provide the average NMCD for consumers with a balance > 0. Average Canadian NMCD for 2016Q1 calculated using the data provided here is $17,968.58, lower than the $22,081 reported for 2016Q3 in a December 2016 press release from Equifax.
A credit file represents a credit consumer, having any type of debt product. Credit files with only mortgage accounts and no consumer debt products would also be included in the credit file count. In spite of this, Equifax uses total credit files as the denominator in the calculation of its NMCD indicator, such as those reported in the newspaper on the average consumer debt of Canadians.
The data can be used to calculate the average NMCD for people with a credit file
Non-mortgage consumer debt includes the following types of credit:
- All installment credits
- All revolving credits
- Auto Finance
- Credit Union Installment
- Credit Union Revolving
- National Card
- Personal Finance
- Retail dept
- Sales finance
A credit file represents one person. A trade is a debt product.
These data are provided under a restrictive license and should not be published or made publicly accessible. Please contact the CDP team if you have any questions.