Paspebiac
Best Credit Counsellor Debt Solutions Guide
Paspebiac, debt relief, Quebec
Paspébiac, a quaint town in Quebec with a population of around 3,000, faces economic challenges such as a 14% unemployment rate and a median household income of $61,200, which strains residents’ finances. The aging population, with many on fixed incomes, adds to money problems. Debt relief options are crucial in this tight-knit community to manage financial struggles effectively.
City: Paspebiac
Province/Territory: Quebec (QC), Canada
Est. Population: 3,198
Financial Challenges
Paspébiac has a high unemployment rate of 14%, making it difficult for people to find jobs. With fewer businesses in town, there are limited opportunities to earn money, which can make it hard for families to pay for things they need. The median household income is $61,200, but for those struggling, this may not be enough to cover expenses.
Many people in Paspébiac are older, with a median age of 56.4 years, and a third of the population is over 65. Older residents often have fixed incomes and higher medical bills, which can cause money problems. The small size of the town and mostly French-speaking population also make it harder to find new jobs or improve financial situations. These factors make living and working in Paspébiac challenging for those facing financial difficulties.
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 Paspebiac, 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 | 1,503 |
| Living in poverty | Number of residents who are living in poverty | 355 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 35 |
| 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
Centre-ville
The heart of Paspebiac, Centre-ville is known for its charming streets lined with local shops, cafes, and historic buildings. This area serves as a hub for community events and gatherings, making it a vibrant place for both residents and visitors.Anse à Beaupré
This picturesque neighborhood is situated alongside the Baie de Paspebiac, offering stunning waterfront views and access to outdoor activities. Residents enjoy peaceful surroundings and the beauty of nature, with opportunities for fishing and boating.La Grève
A tranquil residential area, La Grève is characterized by its sandy beaches and proximity to the ocean. It’s a favorite spot for families, where children can play and residents can relax by the water during the warmer months.Saint-Georges
This neighborhood is known for its community spirit and local agricultural influence. Saint-Georges features lush landscapes and is ideal for those who appreciate rural living while still being close to essential services and amenities.Les Sables
Les Sables is a scenic area near Paspebiac that attracts nature lovers and outdoor enthusiasts. With its extensive network of walking trails and natural beauty, this neighborhood is perfect for those looking to enjoy the great outdoors.
Illustration of Paspebiac, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Paspebiac, 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 Paspebiac, Quebec?
- How does the unemployment rate in Paspebiac compare to other towns in Quebec?
- What are the main economic sectors driving Paspebiac’s economy?
- Are there financial assistance programs available for residents facing economic challenges in Paspebiac?
- How has the housing market in Paspebiac changed over the past few years?
- What is the median household income in Paspebiac, Quebec?
- How do local taxes in Paspebiac impact residents’ financial situations?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in the Gaspésie region of Quebec, this small town has a population of about 3,000 people and is primarily French-speaking. It sits along the Shippagan River and is known for its picturesque landscapes and rich history in the fishing and agriculture industries. The town has a strong community spirit, showcasing local events and celebrations that highlight its cultural heritage. Residents enjoy access to nearby natural attractions, such as parks and rivers, making it a pleasant place for outdoor activities. The aging population and a mix of different ages create a unique atmosphere in this close-knit community.
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!