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 ticked upward in March, with year-over-year declines at the lowest level since the beginning of the pandemic. Total consumer filings declined only 17.8% in Ontario and 15.7% across Canada. Total insolvencies were also at their highest volume since the pandemic began.
The month-over-month increase from February to March was quite sharp. March insolvencies were 21.9% higher than February in Ontario, while Canadian insolvencies increased 22.8% month-over-month.
The economy was partially opened up in March 2021 and courts were opened. However, since that time many provinces have re-instated lockdowns in response to a strong third wave. In Ontario, the court was also closed again for a short period. We expect this will result in a dip in insolvencies in April and May, however this does provide some indication of the rise we will see once the economy fully reopens.
Consumer proposals as a percentage of total consumer insolvencies remained strong at 75.5% in March 2021 for Ontario and 68.7% Canada-wide.
Our Homeowners Bankruptcy Index, remains low at 3.5% in April 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
