Bay Roberts
Bay Roberts, debt relief, Newfoundland and Labrador
Bay Roberts, located on the Avalon Peninsula, is known for its rich history, culture, and scenic views. While it offers various outdoor activities and community events, residents face economic challenges, including limited job opportunities and rising living costs. This has led to a talent drain as younger people seek better prospects. Despite these issues, the community actively supports local business initiatives for economic growth and debt relief.
Computer illustration of Bay Roberts, Canada
City: Bay Roberts
Province/Territory: Newfoundland and Labrador (NL), Canada
Est. Population: 6,897
Overview
Situated on the spectacular Avalon Peninsula, this charming town is known for its rich history, vibrant culture, and picturesque coastal scenery. Offering an inviting blend of outdoor recreational opportunities and community spirit, it features various events and festivals that celebrate its heritage. Visitors and residents alike can enjoy stunning views from its many trails and parks, as well as the hospitality of local artisans and businesses. This destination also provides access to historical landmarks, including the remains of impressive colonial structures, further enriching its allure.
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.
Find out more about Financial PlanningDebt 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.
Find out more about Debt ManagementDebt 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 ConsolidationDebt 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.
Find out more about Debt SettlementConsumer 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 ProposalsBankruptcy
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 BankruptcyThese are the top debt relief options available in Bay Roberts
Financial Challenges
Residents face a mix of economic challenges, often tied to its identity as a small town with a developing economy. The primary challenge is the limited availability of diverse employment opportunities, as the local economy has traditionally relied on sectors like fishing and tourism, which can be seasonal and unstable. This lack of job diversity means that many locals might find it difficult to secure stable, year-round employment. Moreover, younger residents often leave in search of better opportunities elsewhere, leading to a talent drain that further strains economic development. The shortage of high-paying jobs can make it tough for residents to meet rising living costs, which have been exacerbated by infrastructure needs and a somewhat limited housing market.
Another unique challenge stems from geographical isolation and transportation logistics, as goods often have to be transported from larger hubs, increasing their costs. This can drive up prices for everyday essentials, making budget-friendly living harder to achieve. Additionally, internet connectivity and service availability can be erratic or costly, hindering the ability for residents to explore remote work opportunities, which could otherwise provide access to broader job markets. Despite these hurdles, there’s a resilient community spirit, with local businesses and individuals pushing for initiatives to foster economic growth and diversification. This push includes supporting small business ventures and local tourism projects to help boost the local economy and provide more job opportunities.
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Areas / Neighbourhoods
Bay Roberts Downtown
The downtown area of Bay Roberts serves as the commercial hub of the town, featuring a variety of shops, restaurants, and local services. It is a picturesque area with historical significance and offers a vibrant community atmosphere.Sunny Cottage
This neighborhood is known for its tranquil residential vibe and charming houses. It is close to the waterfront, providing scenic views and access to recreational activities along the shore.Seal Cove
Located just outside of Bay Roberts, Seal Cove is a small community known for its beautiful coastal landscapes and a tight-knit community feel. It is an ideal spot for those who appreciate nature and a quieter lifestyle while still being near the amenities of Bay Roberts.Water Street
Water Street runs parallel to the coastline and offers stunning views of the ocean. This area has a mix of residential properties and small businesses, contributing to its appeal as a picturesque and desirable neighborhood.Powers Pond
This neighborhood is characterized by its proximity to natural parks and the small pond that provides recreational opportunities for residents. It is perfect for families looking for a peaceful environment with access to outdoor activities.North River
North River is a growing community located just north of Bay Roberts. It features a mix of country living and modern homes, making it attractive to those looking for larger properties and a rural ambiance while still being close to town amenities.Brigus
Although not directly within Bay Roberts, the nearby town of Brigus is frequently visited by residents of Bay Roberts for its scenic beauty, historical sites, and community events. Its charming streets and beautiful gardens make it a popular spot for leisurely strolls.Coley’s Point
Close to Bay Roberts, Coley’s Point offers stunning views of Conception Bay and a variety of waterfront activities. The area combines both residential homes and recreational spaces, making it popular among families and retirees.
Top Questions
- What are the best things to do in Bay Roberts?
- What is the history of Bay Roberts?
- What are the dining options in Bay Roberts?
- What are the accommodations available in Bay Roberts?
- What recreational activities are available in Bay Roberts?
- How do I get to Bay Roberts from St. John’s?
- What is the climate like in Bay Roberts throughout the year?
Computer illustration of Bay Roberts, Canada
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 | 3,242 |
Living in poverty | Number of residents who are living in poverty | 766 |
Debt defaulted | Number of residents who have defaulted on a debt payment | 75 |
Insolvencies | Number of residents who filed for insolvency | 17 |
Consumer proposal | Number of residents who filed for a consumer proposal | 13 |
Personal bankruptcy | Number of residents who filed for personal bankruptcy | 4 |
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 Bay Roberts, Canada to help understand the financial requirements for different living situations.
Item | Description | Average Cost |
---|---|---|
Housing (1BR) | Monthly rent for a 1-bedroom apartment | $1,255 |
Housing (2BR) | Monthly rent for a 2-bedroom apartment | $1,700 |
Average Home Price | Average price to purchase a home | $288,000 |
Utilities | Monthly cost for electricity, heating, water, and garbage | $210 |
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 | $1,255 |
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!