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
In April, year-over-year consumer insolvencies increased for the first time since the pandemic began. April insolvencies were up 9.9% in Ontario and 19.5% across Canada. It must be noted, however, that this increase was over historically low volumes. Consumer insolvencies are still well below norms – with Ontario volumes 30% less than those of April 2019.
As we expected, volumes declined month-over-month, with April volumes down 14.1% from March in Ontario and 13.2% Canada-wide. Normal seasonal declines, combined with re-instated lockdowns in response to a third wave of the pandemic were the primary economic drivers of the drop. Additionally, there were two fewer business days in April than March 2021.
We do not expect to see dramatic volume increases in insolvencies until the fall of 2021 at the earliest. The extended length of the pandemic will have allowed some Canadians to avoid the need to file insolvency entirely. Some who remained working throughout the pandemic have paid down their debt to manageable levels. Others will find their debt has now aged beyond the legal reach of debt collectors, and assuming they have not incurred new debt, may simply be able to ignore any collection calls.
Consumer proposals as a percentage of total consumer insolvencies declined slightly to 72.0% in April 2021 for Ontario and 67.1% Canada-wide.
Our Homeowners Bankruptcy Index increased slightly to 4.4% in May 2021, but overall remains very low.
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
