Debt Relief Experts
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 fell once again, down over already low pandemic levels last September. Ontario filings declined 7.6% year-over-year, while Canada-wide volumes declined 2.1%.
While consumer insolvencies have modestly trended upward across Canada, Ontario volumes remain relatively flat.
It is unlikely that we will return to more normal insolvency levels for several months, or more. As we’ve stated in previous months, many people are still able to sustain their monthly debt payments or are creditor proof. Others took advantage of higher household cash flow due to the pandemic to pay down consumer debt and have, as yet, not reborrowed to pay for personal consumption spending. Even if non-mortgage debt returns to pre-pandemic levels, the impact on delinquencies and consumer insolvencies will be delayed even longer.
However, all is not rosy. Looming over the horizon are potential interest rate hikes. Even modest increases may affect homeowners’ cash flow and home prices. Few insolvencies are being filed by homeowners right now. Our Homeowners Bankruptcy Index remained low in October 2021, at 1.3%. We are also concerned about the rise in inflation and how this will affect the average householder’s ability to balance their budget without returning to a reliance on consumer credit.
Consumer proposals have been the dominant insolvency options in 2021. Proposals accounted for 76.1% of September filings in Ontario and 70.2% across Canada.
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
