Nova Scotia Consumer Insolvency Trends
Ken Rowan
June 28, 2023
Full site: debtsgo.ca
Data to May 2023.
For data source see notes following.
NS
Monthly Filings
A five-year chart of New Brunswick consumer insolvency filings.
Consumer Proposals
CPs in Nova Scotia hit a new high at 74.1% of new filings in May 2023.
Annual File Growth
To measure growth we compare total filings in the 12 months ended May 2023 with those in the 12 months ended May 2022.
Regions / Municipal Areas
Mean and Current Monthly Filings
We consider census metropolitan areas and regions and compare current volumes with the 10-year historical mean. Showing the current month as a percentage of the mean reveals the degree to which current filings exceed the mean.
Cities
Annual Growth Rates
We filter out cities having less than 60 filings er year and summarize the remainder highest annual growth.
| City | 12.mos.to.May2023 | 12.mos.to.May2022 | Change | Percent Change |
|---|---|---|---|---|
| New Glasgow | 86 | 46 | 40 | 87.0% |
| Amherst | 85 | 47 | 38 | 80.9% |
| Lower Sackville | 212 | 125 | 87 | 69.6% |
| Yarmouth | 99 | 63 | 36 | 57.1% |
| Lakeside | 53 | 35 | 18 | 51.4% |
| Halifax | 591 | 413 | 178 | 43.1% |
| Dartmouth | 430 | 305 | 125 | 41.0% |
| Truro | 160 | 114 | 46 | 40.4% |
| Bridgewater | 100 | 74 | 26 | 35.1% |
| Kentville | 87 | 66 | 21 | 31.8% |
| New Waterford | 55 | 43 | 12 | 27.9% |
| Sydney | 214 | 184 | 30 | 16.3% |
| Bedford | 80 | 72 | 8 | 11.1% |
| Glace Bay | 95 | 89 | 6 | 6.7% |
| North Sydney | 87 | 86 | 1 | 1.2% |
Forward Sortation Areas
Most Active This Month
The most active FSAs in the current month and their mean monthly filings since 2013.
| FSA | FSA.Place.Name | City | May2023 | Mean | May2023.over.Mean |
|---|---|---|---|---|---|
| B0K | Southern Northumberland Strait (Pictou) | Rural Area | 21 | 17.3 | 121.5% |
| B0N | Hants County (Shubenacadie) | Rural Area | 19 | 18.0 | 105.3% |
| B0P | Kings County (Kingston) | Rural Area | 16 | 16.6 | 96.4% |
| B3A | Dartmouth Southwest | Dartmouth | 16 | 12.1 | 132.3% |
| B1P | Sydney North Central | Sydney | 12 | 8.6 | 138.9% |
| B2N | Truro | Truro | 12 | 11.8 | 101.4% |
| B4C | Lower Sackville South | Lower Sackville | 12 | 9.6 | 125.2% |
| B4V | Bridgewater | Bridgewater | 12 | 9.7 | 123.7% |
| B0J | Mainland east shore (Lunenburg) | Rural Area | 11 | 15.0 | 73.3% |
| B0W | Southwest Mainland (Weymouth) | Rural Area | 11 | 11.9 | 92.6% |
| B1A | Glace Bay | Glace Bay | 11 | 11.1 | 99.1% |
| B2H | New Glasgow | New Glasgow | 11 | 7.4 | 149.6% |
| B2W | Dartmouth East Central | Dartmouth | 11 | 12.0 | 91.6% |
| B3M | Halifax Bedford Basin | Halifax | 11 | 14.4 | 76.6% |
| B0M | Cobequid Bay north shore (Springhill) | Rural Area | 10 | 9.7 | 102.6% |
| B4E | Lower Sackville West | Lower Sackville | 10 | 9.6 | 104.3% |
| B4N | Kentville | Kentville | 10 | 8.8 | 113.0% |
| B0E | West Cape Breton Island (Baddeck) | Rural Area | 8 | 6.8 | 117.9% |
| B2Y | Dartmouth South Central | Dartmouth | 8 | 6.5 | 123.8% |
| B3K | Halifax Upper Harbour | Halifax | 7 | 7.0 | 99.9% |
| B4A | Bedford Southeast | Bedford | 7 | 4.7 | 149.6% |
| B0H | Canso region (Havre Boucher) | Rural Area | 6 | 3.6 | 167.0% |
| B1H | New Waterford | New Waterford | 6 | 6.1 | 98.9% |
| B1S | Sydney Central | Sydney | 6 | 4.0 | 148.2% |
| B2A | North Sydney South Central | North Sydney | 6 | 4.9 | 123.0% |
Annual Growth Rates
We average over 10 years the number of monthly files in FSAs and we filter out those having less than 60 files annually. We compare the number of files in the 12-month period ended May 2023 to those in the 12-month period ended May 2022 to calculate growth.
| FSA | FSA_Place_Name | City | 12.mos.to.May2023 | 12.mos.to.May2022 | Change | Percent Change |
|---|---|---|---|---|---|---|
| B0S | West Annapolis County (Middleton) | Rural Area | 69 | 32 | 37 | 115.6% |
| B4C | Lower Sackville South | Lower Sackville | 110 | 53 | 57 | 107.5% |
| B3S | Halifax West | Halifax | 70 | 35 | 35 | 100.0% |
| B2H | New Glasgow | New Glasgow | 86 | 46 | 40 | 87.0% |
| B4H | Amherst | Amherst | 85 | 47 | 38 | 80.9% |
| B0W | Southwest Mainland (Weymouth) | Rural Area | 119 | 66 | 53 | 80.3% |
| B6L | Truro | Truro | 49 | 28 | 21 | 75.0% |
| B0M | Cobequid Bay north shore (Springhill) | Rural Area | 95 | 56 | 39 | 69.6% |
| B2Y | Dartmouth South Central | Dartmouth | 72 | 44 | 28 | 63.6% |
| B5A | Yarmouth | Yarmouth | 99 | 63 | 36 | 57.1% |
| B3T | Lakeside | Lakeside | 53 | 35 | 18 | 51.4% |
| B2W | Dartmouth East Central | Dartmouth | 102 | 70 | 32 | 45.7% |
| B0N | Hants County (Shubenacadie) | Rural Area | 167 | 117 | 50 | 42.7% |
| B3M | Halifax Bedford Basin | Halifax | 173 | 125 | 48 | 38.4% |
| B4E | Lower Sackville West | Lower Sackville | 84 | 62 | 22 | 35.5% |
| B4V | Bridgewater | Bridgewater | 100 | 74 | 26 | 35.1% |
| B3K | Halifax Upper Harbour | Halifax | 92 | 69 | 23 | 33.3% |
| B3A | Dartmouth Southwest | Dartmouth | 143 | 108 | 35 | 32.4% |
| B4N | Kentville | Kentville | 87 | 66 | 21 | 31.8% |
| B0J | Mainland east shore (Lunenburg) | Rural Area | 146 | 113 | 33 | 29.2% |
| B2N | Truro | Truro | 111 | 86 | 25 | 29.1% |
| B0T | Queens County (Shelburne) | Rural Area | 76 | 59 | 17 | 28.8% |
| B1H | New Waterford | New Waterford | 55 | 43 | 12 | 27.9% |
| B0K | Southern Northumberland Strait (Pictou) | Rural Area | 150 | 120 | 30 | 25.0% |
| B0P | Kings County (Kingston) | Rural Area | 154 | 126 | 28 | 22.2% |
Notes and Data Sources
FSA and Forward Sortation Area are protected terms for the benefit of Canada Post Corporation.
Data source: The Office of the Superintendent of Bankruptcy (“OSB”), Innovation, Science and Economic Development Canada, data sets 2013 to May 2023, https://open.canada.ca/
We report on only consumer bankruptcies and consumer proposals as defined by the OSB. For definitions, see https://open.canada.ca/
Ken Rowan is a retired Licensed Insolvency Trustee and a retired CA, CPA.
Questions or Comments? Email debtsgo.ca