Ontarians continue to carry record levels of personal debt and for many residents, a consumer proposal or a personal bankruptcy becomes the only way out of financial trouble.
We update this page for monthly data trends as they are released by the Office of the Superintendent of Ontario.
2021 Consumer Insolvency Filings
Consumer insolvencies declined more rapidly in January 2021 than in recent months, not surprising given a further round of shutdowns related to the second wave of the pandemic. Total consumer filings declined 34.6% in Ontario and 35.8% across Canada.
The decline was strong enough to cause consumer insolvencies to decline from December to January, a trend we have not seen since 2016. January insolvencies were 8.0% lower than December in Ontario, while Canadian insolvencies declined 3.1% month-over-month.
We expect insolvencies to remain depressed until the economy opens more fully.
Meanwhile, consumer proposals as a percentage of total consumer insolvencies rose to an all-time high of 77.1% in January 2021.
Our Homeowners Bankruptcy Index, was 4.6% in January, 2021 but has declined to 2.9% in February 2021.
Ontario Consumer Insolvency Statistics by Region 2020
COVID-19 had an unusual impact on consumer insolvencies in 2020. Ontario insolvencies ended the year down 24.2% and Canadian consumer insolvencies declined 29.7%.
In total, 33,992 Ontarians across Ontario filed insolvency in 2020. Personal bankruptcies fell 36.8% and consumer proposals declined 18.2%. Proposals as a share of Ontario insolvencies increased to 73% in 2020, from 66% in 2019.
To understand how the profile of the average consumer insolvency changed in 2020 read our annual Joe Debtor Bankruptcy Study as well as our report on how COVID-19 affected household debt.
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 | 96,458 | -29.7% | -40% | -23.2% | 66% |
Ontario | 33,992 | -24.2% | -37% | -18.2% | 73% |
REGION* |
|||||
Barrie Region | 1,520 | -24% | -33% | -21% | 72% |
Belleville Region | 525 | -41% | -46% | -38% | 71% |
Brampton | 1,659 | -23% | -41% | -18% | 81% |
Brantford Region | 611 | -19% | -35% | -12% | 75% |
Brockville Region | 280 | -45% | -58% | -33% | 63% |
Cambridge | 405 | -28% | -44% | -20% | 75% |
Chatham Region | 299 | -34% | -51% | -22% | 70% |
City of Toronto | 2,181 | -16% | -36% | -8% | 78% |
Cornwall Region | 403 | -28% | -40% | -18% | 61% |
Essex-Leamington Region | 161 | -43% | -56% | -34% | 71% |
Etobicoke | 1,066 | -15% | -30% | -8% | 74% |
Guelph | 313 | -29% | -50% | -15% | 72% |
Hamilton Region | 1,503 | -22% | -33% | -17% | 72% |
Huron Region | 345 | -19% | -44% | 7% | 65% |
Kingston Region | 487 | -24% | -33% | -19% | 66% |
KW-Wellington Region | 1,049 | -20% | -37% | -11% | 72% |
London Region | 1,651 | -28% | -37% | -23% | 70% |
Markham | 540 | -24% | -28% | -23% | 79% |
Mississauga | 1,694 | -19% | -23% | -17% | 73% |
Newmarket & Area | 671 | -22% | -44% | -11% | 77% |
Niagara Region | 1,049 | -28% | -37% | -23% | 67% |
North Bay Region | 412 | -31% | -48% | -22% | 75% |
North York | 2,462 | -18% | -31% | -14% | 79% |
Burlington-Oakville Region | 922 | -26% | -35% | -22% | 75% |
Orangeville & Area | 255 | -28% | -45% | -21% | 78% |
Oshawa-Bowmanville Region | 1,179 | -31% | -42% | -26% | 76% |
Ottawa Region | 2,458 | -28% | -35% | -23% | 67% |
Parry Sound-Huntsville Region | 241 | -43% | -46% | -41% | 71% |
Pembroke Region | 245 | -30% | -52% | -13% | 72% |
Peterborough Region | 517 | -33% | -38% | -30% | 72% |
Pickering | 544 | -24% | -29% | -22% | 77% |
Richmond Hill | 432 | -15% | -27% | -10% | 77% |
Sarnia Region | 269 | -30% | -40% | -22% | 64% |
Sault Ste. Marie Region | 357 | -22% | -39% | 3% | 52% |
Scarborough | 1,826 | -21% | -34% | -16% | 79% |
Stratford Region | 104 | -34% | -40% | -31% | 69% |
Sudbury Region | 898 | -27% | -38% | -21% | 69% |
Thunder Bay Region | 466 | -19% | -28% | -7% | 50% |
Timmins Region | 499 | -18% | -41% | -8% | 77% |
Vaughan | 380 | -10% | -28% | -3% | 77% |
Windsor Region | 797 | -26% | -38% | -18% | 69% |
Woodstock Region | 290 | -19% | -35% | -11% | 71% |
*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