Compton
Trusted Consumer Proposal & Bankruptcy Advisors
Compton, debt relief, Quebec
Compton, a serene town in Quebec’s Eastern Townships, faces challenges for residents dealing with debt relief issues. Limited job opportunities and high housing costs strain finances, while access to affordable services like healthcare and education is also a concern. The lack of public transportation further complicates efforts to manage these economic difficulties, highlighting the need for support in debt management.
City: Compton
Province/Territory: Quebec (QC), Canada
Est. Population: 3,270
Financial Challenges
Living and working in Compton, Quebec can be hard for people who are having money problems. One big challenge is finding good jobs. If there aren’t many businesses nearby, it can be tough to earn enough to pay for things like rent, food, and other everyday needs. High housing costs can make it even harder for families to afford a nice place to live.
Another problem is accessing affordable services. People might struggle to pay for things like healthcare, transportation, and education, which are important for improving their financial situation. Limited public transportation can make it difficult to get to work or school, especially for those without a car. Without enough support from local programs, it can be challenging to find the help needed to manage money problems and improve their lives.
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 Compton, 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 | 1,537 |
| Living in poverty | Number of residents who are living in poverty | 363 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 36 |
| 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.
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 Compton
A vibrant hub featuring local shops, cafes, and community services. It’s known for its easy access to amenities and a strong sense of community, making it popular among families and young professionals.Domaine de la Rivière
This suburban area offers larger lots and a peaceful environment, ideal for those seeking spacious homes with proximity to nature. It provides easy access to walking trails along the river.Les Sources
Renowned for its beautiful parks and recreational facilities, this neighborhood is perfect for families. Residents enjoy a variety of outdoor activities including sports, picnics, and community events.O’Brien
A quiet residential area characterized by scenic landscapes and small-town charm. It appeals to retirees and individuals looking for a relaxed lifestyle away from the busier districts.Chemin de la Rivière
This picturesque area boasts beautiful waterfront views and is popular for fishing and outdoor recreational activities. It attracts nature lovers and those seeking a tranquil living environment.
Illustration of Compton, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Compton, 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 average cost of living in Compton, Quebec compared to other cities in the region?
- How is the job market in Compton, and what industries are currently hiring?
- What financial assistance programs are available for residents facing economic challenges in Compton?
- How are property prices and rental rates trending in Compton, Quebec?
- What are the average household incomes in Compton, and how do they compare to the provincial average?
- What resources are available for financial education and budgeting assistance in Compton?
- How does the economic outlook for Compton, Quebec look for the next five years?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in the Eastern Townships of Quebec, this small town offers a peaceful atmosphere with beautiful surroundings, including forests and rivers that are perfect for outdoor activities like hiking and fishing. The town has a rich history, reflected in its charming architecture and local heritage sites. Community events and festivals are common, bringing residents together and celebrating local culture. Access to nearby larger towns provides additional amenities while preserving the tranquility of rural living.
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!