Ontario Bankruptcy Statistics 2008

| Category: Bankruptcy in Ontario
Category: Bankruptcy in Ontario | Leave a comment

In 2008 the rate of personal bankruptcy and consumer proposal filing increased by 16.2%. Consumer bankruptcies increased from 31,439 in 2007 to 36,200 in 2008 for an increase of 15.1%.

The number of consumer proposals filed in Ontario also had a significant increase, from 11,974 in 2007 to 14,242 in 2008, an increase of 18.9%.

Ontario’s overall increase of 16.2% was comparable to the rate of increase in Canada of 17%.

It appears that the rate of increase in 2009 will be even greater than in 2008. In the first three months of 2009 the number of personal bankruptcies filed in Ontario increased by 37.7% as compared to the first three months of 2008, and the number of consumer proposals filed increased by 48%, the largest increase on record in recent years.

2008 Ontario Bankruptcy Statistics

According to statistics released by the Office of the Superintendent of Bankruptcy, the personal bankruptcy rate in Ontario increased in 2008, as seen in the chart below. As the chart indicates, the personal bankruptcy rate in every Ontario cities increased.

Ontario Cities 2007 2008 Rate of Increase
Barrie 621 757 22%
Brantford 431 508 18%
Cambridge 533 691 30%
Chatham 316 346 9%
Guelph 416 489 18%
Hamilton 2,504 2,860 14%
Kitchener/Cambridge 1,643 1,965 20%
Leamington 444 612 38%
London 1,967 2,414 23%
Sarnia-Clearwater 333 407 22%
St. Catharines/Niagara 1,539 1,823 18%
Toronto (GTA) 16,539 19,088 15%
Toronto-Downtown 2,662 2,687 1%
Toronto-Brampton 1,926 2,345 22%
Toronto-Etobicoke 1,274 1,411 11%
Toronto-Mississauga 2,321 2,779 20%
Toronto-North York 2,609 3,030 16%
Toronto-Scarborough 2,368 2,713 15%
Toronto-Vaughan 354 480 36%
Windsor 1,795 2,177 21%
Ontario 43,413 50,422 16%
Canada 99,282 115,789 17%

Please click here for 2007 Bankruptcy Ontario Statistics.

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