Burton

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Burton, debt relief, New Brunswick

Burton, New Brunswick, is a close-knit community offering natural beauty and outdoor recreation. However, residents face significant financial challenges, including limited local employment options and high living costs. Commuting to larger cities like Fredericton for work adds financial strain, compounded by property taxes and utility expenses. The lack of public transportation further exacerbates these economic pressures, making debt relief essential for many households.

Scenic view of Burton, New Brunswick, highlighting local events, outdoor activities, and community charm amidst debt relief challenges.

Computer illustration of Burton, Canada

City: Burton
Province/Territory: New Brunswick (NB), Canada
Est. Population: 5,119

Overview

Located within the picturesque landscapes of New Brunswick, this small community is characterized by its close-knit atmosphere and rich historical heritage. Nestled along the scenic banks of the Saint John River, it offers a blend of natural beauty with an array of outdoor recreational opportunities, including hiking, fishing, and boating. The area is steeped in culture, with local events and festivals that celebrate its history and engage residents and visitors alike. This charming locale is also conveniently positioned near larger urban centers, providing residents with easy access to essential services while maintaining a serene environment.

Debt Relief Solutions Available

Financial Planning

You are creating a detailed plan to manage your finances, including budgeting, setting financial goals, and saving for future needs. It's about gaining control over your money, making informed decisions, and reducing the likelihood of new debt.

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Debt Management Plan

Pay off your debt through consolidated payments and sometimes lower interest rates. In a Debt Management Plan (DMP), a credit counselor works with creditors to negotiate terms that make your debt more manageable, resulting in a single monthly payment.

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Debt Consolidation

Combine multiple debts, such as credit card balances and personal loans, into a single loan with a lower interest rate. This can simplify your payment process and reduce the total interest charges over time, making it easier to pay down your debt.

Find out more about Debt Consolidation

Debt Settlement

Negotiate with your creditors to reduce the amount you owe in exchange for a reduced lump-sum payment. Creditors are willing to write off the debt because they receive immediate payment. Typically, these negotiations are handled by debt settlement companies.

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Consumer Proposal

A consumer proposal is a legally binding agreement between you and your creditors to repay a portion of your debt over an extended period. Administered by an LIT, the proposal will outline a fixed monthly payment plan you can afford.

Find out more about Consumer Proposals

Bankruptcy

Personal bankruptcy is a legal process that relieves individuals who cannot repay their debts. It involves erasing most of your unsecured debts and giving you a fresh financial start, but it also has a long-term impact on your credit rating.

Find out more about Bankruptcy


Financial Challenges

Residents face financial challenges that are both unique and multifaceted. One prominent issue is the limited employment opportunities within the immediate area, which often forces residents to commute to nearby cities like Fredericton or Oromocto for work. This can be costly, both financially and timewise, due to rising fuel prices and wear and tear on vehicles. Additionally, this reliance on external job markets creates economic instability for households who are dependent on these jobs, further exacerbated when there are economic downturns in those larger cities.

Another challenge is the relatively high cost of living compared to the average local wages. While housing costs are still more affordable than in major urban centers, property taxes and utilities can be burdensome, particularly for those on fixed incomes or in low-wage jobs. Access to certain essential services often requires travel to bigger towns, adding to the strain on monthly budgets. The lack of widespread public transportation options makes this financial pressure even harder for those without access to their own vehicles. This combination of commuting costs, coupled with service accessibility issues, presents significant financial hurdles for residents trying to manage their expenses effectively.

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

  • Burton Village
    A small rural community known for its friendly atmosphere and close-knit environment. It features residential homes, local businesses, and access to natural landscapes, making it a quiet place for families and retirees.

  • Smith’s Creek
    Located nearby, this area is characterized by its scenic beauty and proximity to the Saint John River. It’s a peaceful neighborhood that offers outdoor recreational activities such as fishing and hiking.

  • Lyndhurst
    A historic village with charming architecture and a rural feel, Lyndhurst is popular for its community involvement and local events. It’s a great place for those who appreciate a small-town atmosphere.

  • Woodstock Road Area
    This area includes various residential developments and is well-connected to key transport routes. The Woodstock Road area provides a mix of suburban living with easy access to urban amenities in nearby larger towns.

  • Messervey
    A quaint neighborhood known for its agricultural background and open spaces. It’s ideal for those who enjoy a more rural lifestyle while being close to the services offered in Burton and surrounding areas.

Top Questions

  1. What are the main attractions and activities in Burton, New Brunswick?
  2. What is the history of Burton, New Brunswick?
  3. What is the population of Burton, New Brunswick?
  4. Are there any schools or educational institutions in Burton?
  5. What are the housing options and real estate market like in Burton?
  6. What services and amenities are available in Burton, such as shopping and healthcare?
  7. What outdoor recreational opportunities exist near Burton, New Brunswick?

Scenic view of Burton, New Brunswick, highlighting local events, outdoor activities, and community charm amidst debt relief challenges. Debt solutions available.

Computer illustration of Burton, Canada

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 paycheck2,406
Living in povertyNumber of residents who are living in poverty568
Debt defaultedNumber of residents who have defaulted on a debt payment56
InsolvenciesNumber of residents who filed for insolvency13
Consumer proposalNumber of residents who filed for a consumer proposal10
Personal bankruptcyNumber of residents who filed for personal bankruptcy3

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.

Cost of Living

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

ItemDescriptionAverage Cost
Housing (1BR)Monthly rent for a 1-bedroom apartment$850
Housing (2BR)Monthly rent for a 2-bedroom apartment$1,200
Average Home PriceAverage price to purchase a home$288,000
UtilitiesMonthly 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$850
Transportation (Car)Monthly cost for car ownership$550
Childcare (Daycare)Monthly cost for daycare$900
Childcare (After-School)Monthly cost for after-school programs$350

The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.



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