Marmora and Lake

Expert Debt Relief & Consumer Proposals

Marmora and Lake, debt relief, Ontario

Marmora and Lake is a small Ontario community with a median age of 56 and a median household income of $62,800. Limited job opportunities and high costs of living, combined with an aging population, create financial challenges for residents. Many struggle with maintaining stability, facing difficulties in accessing affordable housing and debt relief options, exacerbating the community’s financial stress.

City: Marmora and Lake
Province/Territory: Ontario (ON), Canada
Est. Population: 3,953

Financial Challenges

Living and working in Marmora and Lake, Ontario can be tough for people who are having money problems. The town is small, with limited job opportunities, which makes it hard to find well-paying work. Many residents may have to travel to nearby cities for better jobs, increasing their transportation costs. Additionally, the median household income in the area is lower than in larger cities, making it harder to cover everyday expenses like groceries, utilities, and housing.

Another challenge is the aging population in Marmora and Lake. With a significant number of residents retired, there are fewer working-age people to support the community. This can lead to higher costs for healthcare and other essential services. For those living on a fixed income, rising costs and limited financial support options can make it difficult to maintain a stable and comfortable lifestyle. Access to affordable housing and financial assistance programs may also be limited, adding to the financial stress for many families.

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 Planning

Debt 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.

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Debt 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 Consolidation

Debt 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.

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Consumer 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 Proposals

Bankruptcy

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


Marmora and Lake scenic landscape with debt relief resources for financial guidance and support.

*Illustration of Marmora and Lake, Ontario

Debt Data

This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.

ItemDescriptionEstimated
Living paycheck to paycheckNumber of residents who are living paycheck to paycheck1,858
Living in povertyNumber of residents who are living in poverty439
Debt defaultedNumber of residents who have defaulted on a debt payment43
InsolvenciesNumber of residents who filed for insolvency10
Consumer proposalNumber of residents who filed for a consumer proposal8
Personal bankruptcyNumber of residents who filed for personal bankruptcy2

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!

Write off up to 80% of your debts Reduce debts into one affordable monthly payment Stop all collections calls No interest and charges (completely frozen) Government-legislated debt relief programs

Areas / Neighbourhoods

  • Marmora: The main town in the area, Marmora offers a charming blend of history and community. It features local shops, eateries, and beautiful views of the Crowe River, making it a central hub for residents and visitors alike.

  • Lake St. Peter: A peaceful village known for its scenic beauty and outdoor activities, Lake St. Peter provides a tranquil environment for nature lovers and those seeking solitude. The lake itself offers fishing, swimming, and hiking opportunities.

  • Bancroft: While not directly in Marmora and Lake, Bancroft is nearby and frequently visited for its arts and crafts scene and outdoor recreation. It’s surrounded by natural wonders and is often a destination for travelers exploring the region.

  • Castleton: This small but picturesque community features historical architecture and is surrounded by lush countryside. It’s a perfect spot for those looking to escape the rush of larger towns while still enjoying local amenities.

  • Battersea: A quaint and quiet area, Battersea is ideal for families and retirees seeking a slower pace of life. Its close-knit community and proximity to nature add to its appeal.

  • Springbrook: A rural area that showcases the natural beauty of Ontario’s landscapes, Springbrook is popular for its outdoor recreational activities, including fishing and hiking, as well as its warm community atmosphere.

Marmora and Lake scenic landscape with debt relief resources for financial guidance and support. Debt solutions available.

Illustration of Marmora and Lake, Ontario, Canada

Cost of Living

This table provides a breakdown of various average cost-of-living expenses in Marmora and Lake, Canada to help understand the financial requirements for different living situations.

ItemDescriptionAverage 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 PriceAverage price to purchase a home$885,000
UtilitiesMonthly 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

  1. What is the average cost of living in Marmora and Lake, Ontario?
  2. How do housing prices in Marmora and Lake compare to nearby towns?
  3. What are the employment opportunities and average salaries in Marmora and Lake?
  4. What financial assistance programs are available for residents of Marmora and Lake?
  5. How has the economic outlook for Marmora and Lake changed in recent years?
  6. What are the main financial challenges faced by residents of Marmora and Lake?
  7. Are there resources for budgeting and financial planning specific to Marmora and Lake?

If you have a question about debt see our debt related question or ask your own debt related question.

Overview

Marmora and Lake is a small community in Ontario, home to about 4,267 people as of the 2021 Census. The area has an older median age of 56 years, with nearly 30% of its residents being 65 years of age or older. Residents here earn a median household income of around $62,800, which is lower than the average for Ontario. The location has a rich natural environment with lakes and parks, making it ideal for outdoor activities such as fishing and hiking. The community also hosts various events throughout the year, contributing to its friendly atmosphere.



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!

Write off up to 80% of your debts
Reduce debts into one affordable monthly payment
Stop all collections calls
No interest and charges (completely frozen)
Government-legislated debt relief programs