Ascot Corner
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Ascot Corner, debt relief, Quebec
Ascot Corner, a growing municipality in Quebec with a population of 3,368, faces challenges in debt relief due to rising home prices and limited housing availability. The median household income reached $88,000 in 2021, but higher unemployment rates hinder job opportunities, making it tough for families to manage expenses and save. The community is predominantly French-speaking, with an active outdoor lifestyle.
City: Ascot Corner
Province/Territory: Quebec (QC), Canada
Est. Population: 3,368
Financial Challenges
Living in Ascot Corner can be tough for people who are struggling with money. The cost of buying a home is going up, which makes it hard for families to afford their own houses. Many people want to buy a home, but there aren’t enough available, so prices keep rising. This means that those who don’t have enough money might have to spend more on rent or live in smaller homes.
Finding a good job in Ascot Corner can also be challenging. The unemployment rate is higher, which means there are fewer job opportunities available. Some industries, like manufacturing and exporting, are affected by trade issues with other countries, making it harder for people to keep their jobs or find new ones. Without stable income, it becomes difficult for individuals and families to manage their everyday expenses and save money for the future.
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 Ascot Corner, Quebec
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 | 1,583 |
| Living in poverty | Number of residents who are living in poverty | 374 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 37 |
| Insolvencies | Number of residents who filed for insolvency | 8 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 6 |
| 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.
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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
Ascot Corner Village: The heart of the municipality, this area features a charming rural ambiance with local shops, cafés, and community events. It’s known for its friendly atmosphere and close-knit community spirit.
Parc du Moulin: A scenic park that offers recreational activities and nature trails, making it a popular spot for families and outdoor enthusiasts. The park features picnic areas and playgrounds, ideal for leisurely afternoons.
Chemin de la Côte: A residential area characterized by picturesque homes and lots of natural greenery. This neighborhood attracts those looking for a peaceful living environment with easy access to local amenities.
Rivière Magog: This area along the Magog River is known for its beautiful views and outdoor activities. Residents and visitors can enjoy kayaking, fishing, and walking trails, connecting them to the natural beauty of the region.
Rue Principale: This main thoroughfare is a bustling area with various businesses and services. It’s a great spot for shopping and dining, serving as a hub for both locals and visitors alike.
Illustration of Ascot Corner, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Ascot Corner, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $1,270 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $1,750 |
| Average Home Price | Average price to purchase a home | $502,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $200 |
| Food (Single) | Monthly grocery cost for a single person | $300 |
| Food (Family) | Monthly grocery cost for a family of four | $850 |
| 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 | $1,270 |
| Transportation (Car) | Monthly cost for car ownership | $550 |
| Childcare (Daycare) | Monthly cost for daycare | $650 |
| Childcare (After-School) | Monthly cost for after-school programs | $300 |
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 Ascot Corner, Quebec?
- How does the housing market in Ascot Corner compare to nearby cities?
- What are the average salaries and job opportunities available in Ascot Corner?
- What local resources are available for financial assistance to residents of Ascot Corner?
- How are local taxes structured in Ascot Corner, and what impact do they have on residents?
- What economic challenges do residents of Ascot Corner face?
- Are there any upcoming developments or projects in Ascot Corner that could impact the local economy?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Ascot Corner is a small municipality located in the Estrie region of Quebec, Canada, with a population of approximately 3,368 residents as of the 2021 census. The community has seen a steady increase in population over the past decade, reflecting a growing interest in the area. The median household income in 2021 was around $88,000, which shows significant growth compared to previous years. The median age of residents is 40 years, which is younger than the surrounding regions, suggesting a dynamic community with families and working-age individuals. The area is predominantly French-speaking, and local attractions include beautiful natural landscapes and outdoor activities, making it a pleasant place for both residents and visitors.
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!