Rouyn-Noranda
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Rouyn-Noranda, debt help, Quebec
Rouyn-Noranda, a city in Quebec’s Abitibi-Témiscamingue region, has transitioned from a mining hub to a cultural center with educational opportunities and outdoor activities. However, residents face challenges such as poor air quality, health issues, and limited job opportunities due to economic changes. These factors exacerbate financial struggles, making debt relief options increasingly vital for residents.
City: Rouyn-Noranda
Province/Territory: Quebec (QC), Canada
Est. Population: 42,313
Financial Challenges
Living in Rouyn-Noranda can be tough if you’re having money problems. The air quality isn’t great because of high sulfur levels, and some people have health issues from lead poisoning. This means more trips to the doctor, which can be expensive. Also, many jobs used to come from the foundry industry, but that’s not as strong anymore, so finding steady work can be hard.
Money issues are made worse because not many new people are moving to the city, so there aren’t many new job opportunities. Local businesses are struggling too, especially those like radio stations that aren’t getting enough money from ads. This makes it harder to find jobs and keep businesses open. All these things together make living and working in Rouyn-Noranda challenging for those who are already facing financial difficulties.
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 Rouyn-Noranda, 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 | 19,887 |
Living in poverty | Number of residents who are living in poverty | 4,697 |
Debt defaulted | Number of residents who have defaulted on a debt payment | 461 |
Insolvencies | Number of residents who filed for insolvency | 106 |
Consumer proposal | Number of residents who filed for a consumer proposal | 80 |
Personal bankruptcy | Number of residents who filed for personal bankruptcy | 25 |
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.
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Areas / Neighbourhoods
Downtown Rouyn-Noranda: The vibrant heart of the city, Downtown is known for its bustling shops, cafes, and cultural venues. This area hosts numerous festivals and events throughout the year, making it a central hub for residents and visitors alike.
Évain: Located to the east of Rouyn-Noranda, Évain is a quieter residential neighborhood. It is known for its family-friendly atmosphere, parks, and proximity to schools, making it a popular choice for families.
Noranda: This historical district is renowned for its mining heritage and industrial architecture. It offers a mix of residential living and historical landmarks, reflecting the city’s past as a mining town.
Val-d’Or: While technically a neighboring city, Val-d’Or is often associated with Rouyn-Noranda due to its close proximity and shared resources. It features a dynamic community with shopping, dining, and outdoor recreational activities.
Lac Rouyn: Nestled around the picturesque Lac Rouyn, this neighborhood is ideal for nature enthusiasts. It offers beautiful waterfront views, outdoor activities, and is popular for fishing and boating in the summer months.
Tremoy: A residential area characterized by its peaceful environment and green spaces. Tremoy provides a suburban feel with easy access to the city’s amenities, making it attractive for individuals seeking tranquility without being far from urban life.
Sector de la gare: This area is known for its historical railway station and charming architecture. It has a mix of residential buildings and commercial establishments, often attracting visitors interested in local history and culture.
Illustration of Rouyn-Noranda, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Rouyn-Noranda, 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 cost of living in Rouyn-Noranda compared to other Canadian cities?
- What are the average housing prices in Rouyn-Noranda?
- How is the job market in Rouyn-Noranda, and what industries are thriving?
- What financial assistance programs are available for residents in Rouyn-Noranda?
- What are the typical salaries in Rouyn-Noranda and how do they compare to the cost of living?
- How does the economy of Rouyn-Noranda impact the financial wellbeing of its residents?
- What challenges do residents face in terms of financial stability in Rouyn-Noranda?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in the Abitibi-Témiscamingue region of Quebec, this city is known for its rich mining history and diverse natural landscapes, including beautiful lakes and forests. It was founded in the early 20th century, primarily as a mining town, and has grown into a center for culture and education, featuring universities and art galleries. The local economy has evolved from solely relying on mining to include other sectors like education, tourism, and recreation, providing a variety of opportunities for residents and visitors alike. Outdoor activities such as hiking, fishing, and skiing are popular, making it a great place for nature enthusiasts.
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!