Debt Relief Experts
Insolvency activity trended higher in September 2025, with proposals still making up the majority of cases, although bankruptcies gain momentum year over year.
This page is updated monthly as the Office of the Superintendent of Ontario releases data.
Updated for September 2025.
2025 Consumer Insolvency Filings
Consumer insolvencies showed a rebound in September, rising 10.6% year-over-year across Canada and 7.6% in Ontario. While this is a short-term trend, overall insolvency growth has accelerated in the third quarter of 2025 compared to the first half of the year.
Credit performance remains mixed. According to the Bank of Canada, there was a slight improvement in 90-day-plus delinquencies across most credit types. However, delinquency levels remain higher than a year ago, indicating that household cash-flow pressures persist. We may now be seeing cracks in the ability of consumers to sustain payments and hold out against collection calls.
Bankruptcy growth continues to outpace proposal growth. Personal bankruptcies increased 19.1% year-over-year across Canada in September, compared to a 10.6% increase in consumer proposals. The trend was even more pronounced in Ontario, where bankruptcies were up 22.0% and proposals rose only 4.6%. That said, consumer proposals remain the dominant insolvency option, accounting for 80.4% of all insolvencies in Ontario and 78.0% nationwide.
Bottom line: September may finally confirm the upward trajectory in consumer insolvency growth that we have expected to see in 2025.
Our Hoyes Michalos Homeowners Bankruptcy Index fell to 7.2% in September 2025. We are seeing an increased number of calls from pre-construction purchases and multiple condo holders who are unable to close or continue with their mortgage payments.
Ontario Consumer Insolvency Statistics by Region 2024
Ontario insolvencies ended the year up 17.8%, while Canadian consumer insolvencies grew by 11.4%.
In total, 51,637 Ontarians across Ontario filed for insolvency in 2024. Personal bankruptcies increased by 17.2%, while consumer proposals grew by 17.9%. Proposals accounted for 82% of all insolvencies in Ontario, compared to 79% Canada-wide.
To understand how the profile of the average consumer insolvency changed, read our annual Joe Debtor Bankruptcy Study.
Below is a summary of insolvencies by geographic region as summarized by Hoyes Michalos based on insolvency statistics by FSA provided by the Office of the Superintendent of Bankruptcy (OSB). Regional FSA allocations may differ slightly from annual economic region data provided by the OSB as the regional data summarized by Hoyes Michalos provides additional location details than is available by economic region.
REGION* |
Consumer Insolvencies | Total Growth | Growth Bankruptcy | Growth Proposal | % Proposals |
| Canada | 137,295 | 11.4% | 10.8% | 11.6% | 79% |
| Ontario | 51,637 | 17.8% | 17.2% | 17.9% | 82% |
REGION* |
|||||
| Barrie Region | 2,360 | 26% | 10% | 30% | 85% |
| Belleville Region | 1,011 | 10% | 4% | 11% | 81% |
| Brampton | 2,470 | 24% | 43% | 21% | 83% |
| Brantford Region | 1,069 | 24% | 53% | 20% | 83% |
| Brockville Region | 382 | 25% | -17% | 40% | 82% |
| Cambridge | 608 | 22% | 25% | 22% | 83% |
| Chatham Region | 550 | 7% | 20% | 3% | 77% |
| City of Toronto | 3,201 | 18% | 10% | 20% | 83% |
| Cornwall Region | 524 | 31% | 34% | 30% | 78% |
| Essex-Leamington Region | 313 | 5% | 15% | 2% | 77% |
| Etobicoke | 1,509 | 14% | 34% | 10% | 81% |
| Guelph | 484 | 12% | 28% | 8% | 79% |
| Hamilton Region | 2,550 | 19% | 22% | 18% | 81% |
| Huron Region | 641 | 23% | 18% | 24% | 77% |
| Kingston Region | 668 | 12% | -13% | 21% | 80% |
| KW-Wellington Region | 1,577 | 19% | 35% | 16% | 81% |
| London Region | 2,850 | 19% | 38% | 14% | 78% |
| Markham | 762 | 15% | 19% | 15% | 85% |
| Mississauga | 2,305 | 14% | 19% | 13% | 84% |
| Newmarket & Area | 1,023 | 20% | 31% | 19% | 83% |
| Niagara Region | 1,976 | 21% | 16% | 22% | 78% |
| North Bay Region | 454 | 2% | -14% | 6% | 80% |
| North York | 3,881 | 24% | 27% | 24% | 85% |
| Burlington-Oakville Region | 1,397 | 21% | 16% | 23% | 82% |
| Orangeville & Area | 451 | 36% | 65% | 31% | 82% |
| Oshawa-Bowmanville Region | 1,927 | 17% | 19% | 17% | 84% |
| Ottawa Region | 3,592 | 15% | 0% | 19% | 81% |
| Parry Sound-Huntsville Region | 343 | 20% | 24% | 19% | 79% |
| Pembroke Region | 293 | 8% | 25% | 3% | 76% |
| Peterborough Region | 950 | 24% | 0% | 30% | 82% |
| Pickering | 850 | 28% | 61% | 23% | 84% |
| Richmond Hill | 620 | 37% | 58% | 33% | 80% |
| Sarnia Region | 399 | 3% | -11% | 8% | 75% |
| Sault Ste. Marie Region | 437 | -3% | -31% | 11% | 77% |
| Scarborough | 2,665 | 19% | 27% | 18% | 84% |
| Stratford Region | 180 | 2% | -26% | 10% | 82% |
| Sudbury Region | 1,039 | 10% | 14% | 9% | 78% |
| Thunder Bay Region | 618 | 1% | -9% | 4% | 79% |
| Timmins Region | 512 | 2% | 48% | -7% | 77% |
| Vaughan | 577 | 28% | 20% | 30% | 83% |
| Windsor Region | 1,210 | 5% | -3% | 8% | 79% |
| Woodstock Region | 420 | 14% | 24% | 12% | 80% |
| *Region includes surrounding rural areas | |||||
Who files insolvency in Ontario?
The average insolvent debtor looks much like the average person in Ontario. They are working and struggling to make ends meet. To read more about what the average bankrupt looks like, see our bankruptcy research study: Joe Debtor.
Press Inquiries
For commentary and information about consumer insolvencies and debt issues in Ontario, contact:
J. Douglas Hoyes
CA, CPA, Licensed Insolvency Trustee
Email Doug
Ted Michalos
CA, CPA, Licensed Insolvency Trustee
Email Ted
