Les Iles-de-la-Madeleine
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Les Iles-de-la-Madeleine, debt relief, Quebec
Les Iles-de-la-Madeleine, a scenic archipelago in Quebec, faces significant financial challenges for residents. Seasonal jobs in fishing and tourism create income instability, while a shortage of affordable housing exacerbates homelessness. Climate change further threatens infrastructure, and limited government aid leaves many struggling with debt. Residents may require debt relief strategies to navigate these hardships.
City: Les Iles-de-la-Madeleine
Province/Territory: Quebec (QC), Canada
Est. Population: 12,010
Financial Challenges
Living and working in Les Iles-de-la-Madeleine can be challenging for those facing money problems. During the summer, many homes are rented out to tourists, making it hard for locals to find affordable places to live. This lack of permanent housing can lead to homelessness and the need to stay in emergency shelters. Additionally, climate change is causing the islands to erode quickly, which damages homes and important buildings. Fixing and rebuilding these structures is very expensive, and the government isn’t providing enough money to help, making it difficult for people with limited incomes to keep their homes safe and stable.
The economy in Les Iles-de-la-Madeleine relies heavily on fishing and tourism. While tourism brings in money, it also means that many jobs are seasonal and not always steady. This instability makes it hard for people to have consistent incomes, which is tough for those already struggling with money. With only modest job growth expected, finding good work can be difficult. People facing financial stress might have to manage debts or use programs like housing assistance, but these supports don’t always cover everything they need. As a result, many residents continue to deal with financial challenges while trying to live and work on the islands.
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 Bankruptcy
*Illustration of Les Iles-de-la-Madeleine, 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 | 5,645 |
Living in poverty | Number of residents who are living in poverty | 1,333 |
Debt defaulted | Number of residents who have defaulted on a debt payment | 131 |
Insolvencies | Number of residents who filed for insolvency | 30 |
Consumer proposal | Number of residents who filed for a consumer proposal | 23 |
Personal bankruptcy | Number of residents who filed for personal bankruptcy | 7 |
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
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Areas / Neighbourhoods
Cap-Aux-Meules: As the main urban center of Les Iles-de-la-Madeleine, Cap-Aux-Meules is known for its vibrant community, shops, restaurants, and cultural events. It serves as the gateway to the islands, featuring beautiful views and access to various services.
Havre-Aubert: This picturesque village is renowned for its stunning beaches and charming architecture. Havre-Aubert offers a mix of art galleries, local crafts, and seafood restaurants, making it a favorite spot for tourists and locals alike.
L’Étang-du-Nord: Known for its fishing heritage, L’Étang-du-Nord features rustic landscapes and a laid-back atmosphere. Visitors can enjoy fresh seafood, local markets, and the scenic waterfront that defines this cozy community.
Grosse Île: The largest of the islands, Grosse Île is characterized by its stunning natural beauty and secluded beaches. It is a great destination for nature enthusiasts, offering hiking trails, birdwatching, and a chance to experience the islands’ rugged charm.
Old Harry: This small, tranquil area is famous for its breathtaking coastal views and privacy. Old Harry is a perfect retreat for those looking to relax and enjoy outdoor activities like kayaking, birdwatching, and beachcombing.
Fatima: A quaint and charming village, Fatima is known for its strong Acadian culture and community spirit. Visitors can explore local cuisine and enjoy the vibrant colors of traditional homes set against a backdrop of lush natural scenery.

Illustration of Les Iles-de-la-Madeleine, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Les Iles-de-la-Madeleine, 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 Les Iles-de-la-Madeleine?
- How does the housing market in Les Iles-de-la-Madeleine compare to other regions in Quebec?
- What are the primary economic drivers in Les Iles-de-la-Madeleine?
- How are local job opportunities affected by seasonal tourism in Les Iles-de-la-Madeleine?
- What financial assistance programs are available for residents of Les Iles-de-la-Madeleine?
- How do healthcare and education costs in Les Iles-de-la-Madeleine impact residents’ budgets?
- What challenges do residents face regarding access to affordable goods and services in Les Iles-de-la-Madeleine?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Les Iles-de-la-Madeleine is an enchanting archipelago located in the Gulf of St. Lawrence, part of Quebec, Canada. This region is renowned for its stunning red cliffs, sandy beaches, and picturesque fishing villages, making it a popular destination for tourists seeking natural beauty and outdoor activities. The islands offer a rich cultural experience influenced by Acadian heritage, featuring traditional music, local cuisine, and artisanal crafts. Activities like kayaking, hiking, and exploring the unique coastal landscapes allow visitors to fully appreciate the area’s charm and tranquility. The community is closely tied to the sea, with fishing and tourism being key parts of life on the islands.
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!