Claresholm
Trusted Debt Relief & Consumer Proposal Experts
Claresholm, debt relief, Alberta
Claresholm, Alberta, is a small agricultural town with a population of about 3,700, known for its scenic landscapes and community spirit. However, residents face challenges such as higher unemployment rates and low-paying jobs, primarily in retail and healthcare. Rising costs, including taxes and insurance, particularly impact older individuals on fixed incomes, intensifying financial struggles and highlighting the need for effective debt relief solutions.
City: Claresholm
Province/Territory: Alberta (AB), Canada
Est. Population: 3,780
Financial Challenges
Many people in Claresholm have trouble finding steady jobs because the unemployment rate is higher than in other parts of Alberta. Most jobs are in places like stores, restaurants, and healthcare, which don’t always pay well. This makes it hard for people to earn enough money to support their families. With fewer job opportunities and wages that don’t keep up with the cost of living, those who work might still struggle to make ends meet.
On top of that, Claresholm has a lot of older people who are living on fixed incomes, which means they don’t earn more money as prices go up. The town is also seeing costs rise, like higher taxes and insurance prices, which makes everyday things more expensive. This puts extra pressure on families who are already having money problems, making it difficult to save or spend on things they need. All these factors together make living and working in Claresholm especially tough for those facing financial challenges.
Debt Relief Solutions Available
Financial Planning
Financial planning means making a smart plan for your money. It helps you budget, set goals, and save for the future. With a plan in place, you can feel more in control of your money and avoid falling into debt again.
Find out more about Financial PlanningDebt Management Plan
A Debt Management Plan, or DMP, helps you pay back what you owe in one simple monthly payment. A credit expert talks to your creditors to lower your interest and make the debt easier to handle.
Find out more about Debt ManagementDebt Consolidation
Debt consolidation means putting all your debts—like credit cards and loans—into one new loan. This new loan usually has a lower interest rate, which can help you save money and pay off your debt faster.
Find out more about Debt ConsolidationDebt Settlement
Debt settlement means offering less than the full amount you owe to clear your debt. Creditors may accept it because they get paid quickly. A debt settlement company usually helps with this process.
Find out more about Debt SettlementConsumer Proposal
A consumer proposal is a legal deal between you and the people you owe. You agree to pay back part of your debt in smaller monthly payments. A Licensed Insolvency Trustee helps make the plan and talks to your creditors for you.
Find out more about Consumer ProposalsBankruptcy
Bankruptcy is a legal way to clear most of your debts if you can’t pay them back. It gives you a fresh start, but it can also hurt your credit score for several years.
Find out more about Bankruptcy
*Illustration of Claresholm, Alberta
Debt Data
This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.
| Item | Description | Estimated |
|---|---|---|
| Living paycheck to paycheck | Number of residents who are living paycheck to paycheck | 1,777 |
| Living in poverty | Number of residents who are living in poverty | 420 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 41 |
| Insolvencies | Number of residents who filed for insolvency | 9 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 7 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 2 |
The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.
Elimiate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!
Areas / Neighbourhoods
Downtown Claresholm
The heart of Claresholm, featuring a mix of local shops, restaurants, and services. Downtown is known for its community events and vibrant atmosphere, making it a hub for both residents and visitors.East Claresholm
A primarily residential area, East Claresholm offers quieter neighborhoods with family-friendly amenities. It’s close to schools and parks, making it a popular choice for families.West Claresholm
Known for its larger homes and spacious lots, West Claresholm is a desirable area for those seeking more space. It features beautiful views of the nearby foothills and is convenient for accessing recreational activities.Central Claresholm
This area includes a blend of residential and commercial properties, featuring parks and public spaces. Central Claresholm is favored for its accessibility and the presence of community organizations.Claresholm Industrial Park
A key area for businesses and employment, the Industrial Park is situated on the outskirts of town. It houses various industries and contributes to the local economy, attracting workers from Claresholm and surrounding areas.
Illustration of Claresholm, Alberta, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Claresholm, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $1,550 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $1,900 |
| Average Home Price | Average price to purchase a home | $507,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $230 |
| Food (Single) | Monthly grocery cost for a single person | $350 |
| Food (Family) | Monthly grocery cost for a family of four | $1,000 |
| Healthcare (Rx) | Monthly cost for prescription medications | $35 |
| Healthcare (Dental) | Monthly cost for dental care | $200 |
| Healthcare (Vision) | Monthly cost for vision care | $225 |
| Transportation (Public) | Monthly cost for public transit | $1,550 |
| Transportation (Car) | Monthly cost for car ownership | $650 |
| Childcare (Daycare) | Monthly cost for daycare | $1,200 |
| Childcare (After-School) | Monthly cost for after-school programs | $400 |
The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.
Top Questions
- What is the current cost of living in Claresholm, Alberta?
- How does the job market in Claresholm compare to nearby cities?
- What are the average housing prices in Claresholm?
- What financial assistance programs are available for residents in Claresholm?
- How has the economy in Claresholm changed over the last few years?
- What are the typical salaries for common occupations in Claresholm?
- Are there any local initiatives to support small businesses in Claresholm?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in Alberta, this town is a small agricultural community with a population of around 3,700 people. It is situated at the crossroads of Highway 2 and Highway 520, making it an accessible spot for travelers and locals alike. The area is known for its beautiful landscapes, which include rolling hills and farmlands. Residents enjoy a variety of recreational activities, including parks, sports facilities, and community events that foster a strong sense of community. The town has a rich history, with several heritage sites reflecting its cultural background and development over the years. Local amenities include schools, shops, and services that cater to the everyday needs of its residents.
Eliminate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!