Augusta
Expert Debt Solutions & Consumer Proposal Help
Augusta, debt relief, Ontario
Augusta, Ontario, offers scenic beauty and recreational activities but faces economic challenges. Residents struggle with rising taxes and reduced support for affordable housing, making it difficult for families to cope with financial burdens. Budget issues impact local businesses and job availability, leading to increased debt and financial stress. The community’s rich history and events foster a close-knit environment amidst these challenges.
City: Augusta
Province/Territory: Ontario (ON), Canada
Est. Population: 7,353
Financial Challenges
People living in Augusta, Ontario who are having money problems face several challenges. The town has less money to spend because some funds they used to get help have run out. This means the government might raise taxes, making it more expensive for families to pay for their homes and other needs. Also, there is less support for affordable housing, so finding a cheap place to live becomes harder for those already struggling with money.
Working in Augusta can also be tough because some services and businesses are affected by the town’s budget issues. For example, the closure of part of the Augusta Canal has hurt local businesses that rely on tourism, leading to fewer jobs and lower incomes for workers. With higher taxes and fewer job opportunities, people may find it harder to pay their bills and manage their money, which can increase stress and lead to more debt.
Debt Relief Solutions Available
Financial Planning
You are creating a detailed plan to manage your finances, including budgeting, setting financial goals, and saving for future needs. It's about gaining control over your money, making informed decisions, and reducing the likelihood of new debt.
Find out more about Financial PlanningDebt Management Plan
Pay off your debt through consolidated payments and sometimes lower interest rates. In a Debt Management Plan (DMP), a credit counselor works with creditors to negotiate terms that make your debt more manageable, resulting in a single monthly payment.
Find out more about Debt ManagementDebt Consolidation
Combine multiple debts, such as credit card balances and personal loans, into a single loan with a lower interest rate. This can simplify your payment process and reduce the total interest charges over time, making it easier to pay down your debt.
Find out more about Debt ConsolidationDebt Settlement
Negotiate with your creditors to reduce the amount you owe in exchange for a reduced lump-sum payment. Creditors are willing to write off the debt because they receive immediate payment. Typically, these negotiations are handled by debt settlement companies.
Find out more about Debt SettlementConsumer Proposal
A consumer proposal is a legally binding agreement between you and your creditors to repay a portion of your debt over an extended period. Administered by an LIT, the proposal will outline a fixed monthly payment plan you can afford.
Find out more about Consumer ProposalsBankruptcy
Personal bankruptcy is a legal process that relieves individuals who cannot repay their debts. It involves erasing most of your unsecured debts and giving you a fresh financial start, but it also has a long-term impact on your credit rating.
Find out more about Bankruptcy
*Illustration of Augusta, Ontario
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 | 3,456 |
| Living in poverty | Number of residents who are living in poverty | 816 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 80 |
| Insolvencies | Number of residents who filed for insolvency | 18 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 14 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 4 |
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
Bobs Lake: A picturesque area known for its beautiful lake, Bobs Lake offers opportunities for fishing, boating, and enjoying nature. This tranquil location attracts both permanent residents and seasonal visitors looking for lakeside retreats.
Augusta Village: The heart of Augusta, this small village is characterized by its charming residential homes and a tight-knit community. It features local shops, schools, and parks, making it a convenient and family-friendly neighborhood.
Blenheim: A quaint community that showcases a mix of residential and agricultural lands. Blenheim is known for its scenic landscapes and recreational activities, including local fairs and farmers markets.
Prescott: Located near Augusta, Prescott offers a historic ambiance with their well-preserved architecture. Its waterfront area along the St. Lawrence River provides scenic walking paths and parks, making it a popular spot for both residents and tourists.
Lyndhurst: This small hamlet is a hidden gem in Augusta, known for its strong sense of community and natural beauty. The area features lush greenery and nearby parks, making it ideal for outdoor activities and family outings.
Illustration of Augusta, Ontario, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Augusta, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $2,400 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $3,000 |
| Average Home Price | Average price to purchase a home | $885,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $145 |
| 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 | $2,400 |
| Transportation (Car) | Monthly cost for car ownership | $650 |
| Childcare (Daycare) | Monthly cost for daycare | $1,250 |
| 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 average cost of living in Augusta, Ontario?
- How does the housing market in Augusta compare to nearby cities?
- What are the main sources of employment in Augusta, Ontario?
- How has the economic outlook for Augusta changed in recent years?
- What financial assistance programs are available for residents of Augusta?
- What are the common financial challenges faced by residents of Augusta?
- How do property taxes in Augusta, Ontario, compare to other regions in Canada?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in Eastern Ontario, this community is situated along the St. Lawrence River and is part of the Leeds and Grenville region. Known for its rich history and scenic landscapes, it offers both rural charm and access to natural beauty, including parks and waterways. This area has several recreational activities, from fishing to boating, making it attractive for those who enjoy outdoor pursuits. The local economy benefits from agriculture, tourism, and small businesses, providing residents with various amenities and services. The community also hosts events that celebrate its culture and history, helping to foster a close-knit environment for families and newcomers alike.
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!