Half a million Canadians are delinquent - Equifax Canada data reveals 19% jump

TORONTO, July 3 /CNW/ - Equifax Canada today released the latest
consumer credit delinquency data which shows that Canadians continue
to fall behind on their credit payments at an ever-increasing rate.
The average delinquency rate for Canada rose by approximately 19% over
a one-year span from May 31, 2008 to May 31, 2009. In April, the same
rate was increasing at 13%. The average delinquency rate for all of
Canada as of May 31, 2009 was 1.52%. This means that over a half a
million Canadians are now more than 90 days behind on their credit
payments.

Provincially, Nova Scotia had the highest average delinquency rate in
May at 2.07% and Saskatchewan had the lowest rate at 1.22%. Ontario's
rate was 1.74%.

Equifax Canada defines delinquent accounts as credit facilities that
have not received a payment for at least 90 days. The average
delinquency rate is calculated by comparing the number of delinquent
credit facilities to the total number of credit facilities. Equifax
Canada's experienced team of consultants and analysts compute
delinquency rates by analyzing data from Canadian lenders who report
to it on a daily basis.

Delinquencies - Their Alarming Rise

On a yearly basis, the average delinquency rates have been rising
dramatically in Alberta (26%) and British Columbia (27%), and, on the
east coast, Prince Edward Island experienced a 26% increase. The
national yearly average rate of increase is 18.8%.

It is important to note that these provinces continue to have average
delinquency rates that are lower than the national average with
British Columbia at 1.31% and Alberta at 1.42%. In Prince Edward
Island (2.05%), however, average delinquency rates were higher than
the national rate.

Calgary sees sharpest jump

Urban areas experienced some of the largest jumps in delinquency
rates. Five out of the ten cities monitored by Equifax Canada have
annual increases in delinquency rates that are higher than the
national average:

May 2009 Year over Year

Delinquency Rate Increase (%)
---------------- ------------
Calgary 1.32% 29%
Montreal 1.41% 18%
Vancouver 1.18% 22%
Quebec City 0.83% 17%
Edmonton 1.40% 23%
London 1.66% 20%
Hamilton 1.70% 20%
Toronto 1.98% 14%
Canada 1.52% 19%

With the exception of Quebec City, all provinces and cities monitored
by Equifax Canada from April 2009 to May 2009 experienced an increase
in their average delinquency rate.

Toronto continues to have the highest delinquency rate at 1.98%, even
though its yearly increase rate is 14.45%, which is below the national
average.

"While we have seen delinquencies increase steadily since the
beginning of the year, the rate of increase in the past 3 months has
been significantly higher," said Nadim Abdo, Vice President of Equifax
Canada Consulting Solutions. "The sharpest increase has resulted from
Credit Card and Sales Finance purchases, which have increased by 38%
and 58%, respectively, since May 2008. Such transactions typically
represent the purchase of durable goods, such as furniture or
electronics, and consumers appear to be willing to fall behind on them
first before they miss payments on their Bank Loans and Lines of
Credit."

This is another in a series of news releases that will feature Equifax
Canada's financial and demographic data, which can help businesses
target opportunities and make informed decisions. If you would like to
find out how Equifax Canada can use their unique insights to help you
make better decisions for your business, please contact us at
1-800-278-0278 or visit our website at www.equifax.ca.

About Equifax Inc. (www.equifax.com)

Equifax empowers businesses and consumers with information they can
trust. A global leader in information solutions, we leverage one of
the largest sources of consumer and commercial data, along with
advanced analytics and proprietary technology, to create customized
insights that enrich both the performance of businesses and the lives
of consumers.

Customers have trusted Equifax for over 100 years to deliver
innovative solutions with the highest integrity and reliability.
Businesses - large and small - rely on us for consumer and business
credit intelligence, portfolio management, fraud detection,
decisioning technology, marketing tools, and much more. We empower
individual consumers to manage their personal credit information,
protect their identity, and maximize their financial well-being.

Headquartered in Atlanta, Georgia, Equifax Inc. operates throughout
the U.S., Canada and 13 other countries in North America, Latin
America, and Europe. Equifax is a member of Standard & Poor's (S&P)
500 Index. Our common stock is traded on the New York Stock Exchange
under the symbol EFX.

For further information: Craig Hillyer, AVP, Product Management &
Innovation, at (416) 227-5290 or visit our website at www.equifax.ca

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