Stellarton
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Stellarton, debt relief, Nova Scotia
Stellarton, Nova Scotia, faces significant economic challenges, with an unemployment rate of 13.7%, well above the provincial average of 6.5%. Many residents struggle to find stable jobs, leading to difficulties in managing expenses and debts. This economic strain creates a demand for debt relief solutions, as families grapple with financial stress amidst a stagnant local economy and limited job opportunities.
City: Stellarton
Province/Territory: Nova Scotia (NS), Canada
Est. Population: 4,007
Financial Challenges
Living and working in Stellarton, Nova Scotia can be tough for people who are having money problems. The city has a high unemployment rate of 13.7%, which means many people are struggling to find jobs. This is much higher than the rest of Nova Scotia, where only about 6.5% of people are unemployed. With fewer jobs available, families might find it hard to earn enough money to pay for things like rent, groceries, and bills.
Because so many people don’t have steady income, it can be hard to save money or pay off debts. When people can’t find work, they might have to borrow money to make ends meet, which can lead to more financial stress. Additionally, the local economy isn’t growing quickly, and there are fewer new job opportunities. This makes it even harder for people in Stellarton to improve their financial situation and live comfortably.
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 Stellarton, Nova Scotia
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 | 1,883 |
| Living in poverty | Number of residents who are living in poverty | 445 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 44 |
| Insolvencies | Number of residents who filed for insolvency | 10 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 8 |
| 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 Stellarton
The heart of Stellarton, this area features a mix of local shops, eateries, and services. It’s known for its friendly atmosphere and community events, making it a central hub for residents and visitors alike.Union Street
A prominent residential area, Union Street is lined with beautiful homes and offers a family-friendly environment. The neighborhood includes parks and schools, making it popular among families.Park Street
This area is characterized by its large, leafy lots and older homes, giving it a quaint, historical feel. Residents enjoy the proximity to local amenities and parks, making it a peaceful place to live.North Stellarton
Known for its more rural setting, North Stellarton provides a blend of residential and agricultural spaces. It appeals to those seeking a quieter lifestyle while still being close to the conveniences of town.Cameron Street
A quiet area featuring a mix of housing styles, Cameron Street is ideal for families and retirees. It offers access to local services and parks, fostering a tight-knit community vibe.Westville Road
This area serves as a gateway to Stellarton, with various commercial establishments and residential properties. It’s a busy road that attracts a mix of shoppers and residents due to its accessibility and range of services.
Illustration of Stellarton, Nova Scotia, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Stellarton, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $2,114 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $2,828 |
| Average Home Price | Average price to purchase a home | $399,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $250 |
| 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 | $2,114 |
| Transportation (Car) | Monthly cost for car ownership | $650 |
| Childcare (Daycare) | Monthly cost for daycare | $1,100 |
| 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 Stellarton, Nova Scotia?
- How does the average salary in Stellarton compare to the national average?
- What are the main financial challenges faced by residents in Stellarton?
- What is the economic outlook for Stellarton in the next few years?
- Are there affordable housing options available in Stellarton?
- What industries are driving economic growth in Stellarton?
- How do property taxes in Stellarton compare to other towns in Nova Scotia?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Stellarton is a small town located in the Pictou County region of Nova Scotia, Canada. It is known for its rich history, particularly in coal mining, which played a significant role in the town’s development. The community is home to various local businesses and organizations, as well as several recreational facilities, including parks and sports fields. It also hosts annual events that celebrate local culture and bring residents together. The town is conveniently situated near major highways, making it accessible for both residents and visitors. The surrounding area is characterized by beautiful landscapes and outdoor activities, reflecting the natural beauty of Nova Scotia.
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!