Notre-Dame-du-Mont-Carmel
Debt Relief & Solutions
Notre-Dame-du-Mont-Carmel, debt relief, Quebec
Notre-Dame-du-Mont-Carmel in Quebec boasts a growing population of over 6,000, enhancing its appeal with local culture and amenities. However, increased housing demand drives up costs, making it challenging for residents to afford homes and manage budgets. Job opportunities may be limited for those who are not bilingual, complicating financial stability and potential for debt relief for struggling individuals.
City: Notre-Dame-du-Mont-Carmel
Province/Territory: Quebec (QC), Canada
Est. Population: 5,467
Financial Challenges
In Notre-Dame-du-Mont-Carmel, people who have money problems may find it hard to afford homes because more people are moving to the area. As the population grows, the prices for renting or buying houses can go up, making it difficult for those with limited income to find a place to live. This increase in housing costs means that a bigger portion of their money has to go towards paying for a home, leaving less for other needs like food and transportation.
Another challenge is finding good jobs. Most people in the city speak French, and some jobs require knowing both French and English. If someone only speaks one language, they might have fewer job opportunities and might not earn as much money. Additionally, the types of jobs available in Notre-Dame-du-Mont-Carmel might not pay enough to cover all living expenses, making it tough for people to manage their budgets and save money.
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 Notre-Dame-du-Mont-Carmel, 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 | 2,569 |
| Living in poverty | Number of residents who are living in poverty | 607 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 60 |
| Insolvencies | Number of residents who filed for insolvency | 14 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 10 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 3 |
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
Centre-ville: The heart of Notre-Dame-du-Mont-Carmel, featuring a variety of shops, local eateries, and community services. This area is known for its vibrant atmosphere and serves as a hub for social activities.
Les Cèdres: A residential neighborhood known for its family-friendly environment. It has several parks and green spaces, making it an ideal location for outdoor activities and community gatherings.
Secteur des Écoles: Home to several educational institutions, this area is bustling with students and families. The presence of schools contributes to the strong community spirit and various recreational programs available in the vicinity.
Parc de la Rivière: A scenic area that offers natural beauty and walking trails. It is popular among residents for leisure activities such as hiking, biking, and enjoying picnics along the riverbanks.
Les Promenades: A developing area that is gaining popularity due to its modern housing options and proximity to amenities. This neighborhood attracts younger families and professionals looking for convenience and accessibility.
Illustration of Notre-Dame-du-Mont-Carmel, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Notre-Dame-du-Mont-Carmel, 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 Notre-Dame-du-Mont-Carmel, Quebec?
- How do housing prices in Notre-Dame-du-Mont-Carmel compare to nearby cities?
- What is the current employment rate in Notre-Dame-du-Mont-Carmel?
- Are there significant economic development plans in Notre-Dame-du-Mont-Carmel?
- What are the average salaries for jobs in Notre-Dame-du-Mont-Carmel?
- What financial assistance programs are available for residents facing economic challenges?
- How does the cost of utilities and transportation in Notre-Dame-du-Mont-Carmel affect overall living expenses?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in Quebec, this community offers a charming blend of rural life and local culture. With a population of over 6,000 people, it has seen steady growth, indicating a healthy interest in the area. The majority of residents speak French, which reflects the cultural heritage of the region. The town features various local amenities, including parks and recreational activities, making it an attractive place for families and individuals alike. The close-knit atmosphere and community events foster a sense of belonging, providing a welcoming environment for all who reside there.
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!