Saint-Hyacinthe
Expert Debt Relief & Consumer Proposals
Saint-Hyacinthe, debt help, Quebec
Saint-Hyacinthe, Quebec, is facing financial challenges due to rising interest rates affecting loans, including mortgages and farm financing. Many residents struggle with debt, making budgeting difficult amid high living costs. Despite some business growth, job stability remains a concern. This environment makes debt relief options like consumer proposals and credit counselling essential for those needing assistance.
City: Saint-Hyacinthe
Province/Territory: Quebec (QC), Canada
Est. Population: 57,239
Financial Challenges
Living in Saint-Hyacinthe can be tough for people who are struggling with money. One big problem is that interest rates have gone up, which means if you have a loan, like for a house or a farm, you have to pay more each year. This makes it harder to keep up with payments and leaves less money for other things you need. Also, even though some businesses are growing, others are closing or cutting jobs, which makes finding and keeping a stable job difficult.
Another challenge is dealing with debt. Many people have to borrow money to pay for everyday things, and managing this debt can be overwhelming. With the economy not always stable, it’s hard to plan for the future or save money. Budgeting becomes really important, but it can be hard to find ways to spend less when prices for things like food and housing are high. All these issues make living and working in Saint-Hyacinthe a financial struggle for those who are already having money problems.
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 Saint-Hyacinthe, 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 | 26,902 |
| Living in poverty | Number of residents who are living in poverty | 6,354 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 624 |
| Insolvencies | Number of residents who filed for insolvency | 143 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 109 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 34 |
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 downtown area of Saint-Hyacinthe is vibrant and bustling, featuring a mix of shops, restaurants, and cultural venues. With its historical buildings and modern amenities, it serves as the social and economic hub of the city.
La Providence
This neighborhood is known for its family-friendly atmosphere and spacious homes. It features several parks and schools, making it an ideal choice for families looking for a community-oriented environment.
Saint-Joseph
Saint-Joseph is characterized by its quiet streets and residential charm. It offers a mix of older homes and newer constructions, appealing to both young professionals and retirees. The area boasts easy access to local amenities and green spaces.
Saint-Dominique
A suburban neighborhood that combines residential living with agricultural surroundings. It offers a peaceful lifestyle while still being close to urban conveniences. The area is popular among those seeking larger properties and a connection to nature.
Parc Marc-Aurèle-Fortin
This neighborhood is centered around one of the city’s main parks, providing ample green space for outdoor activities. The area features recreational facilities and is popular with families and outdoor enthusiasts.
Saint-Thomas
Known for its historical significance, this neighborhood features older architecture and a tight-knit community feel. It is conveniently located near essential services and enjoys a mix of residential and commercial properties.
L’Assomption
Predominantly a residential area, L’Assomption is known for its well-maintained homes and friendly community. It offers a tranquil living experience and easy access to nearby shopping and dining options.
Est de Saint-Hyacinthe
This area includes a mixture of residential neighborhoods and agricultural lands, offering a blend of urban and rural lifestyles. It features various local businesses and is a great place for those who appreciate open spaces.
Illustration of Saint-Hyacinthe, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Saint-Hyacinthe, 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 current cost of living in Saint-Hyacinthe compared to other cities in Quebec?
- How does the housing market in Saint-Hyacinthe affect residents’ financial challenges?
- What are the average salaries in Saint-Hyacinthe, and how do they align with the local cost of living?
- What economic sectors are driving growth in Saint-Hyacinthe’s economy?
- Are there government programs or resources available to assist residents with financial difficulties in Saint-Hyacinthe?
- How has inflation impacted the cost of goods and services in Saint-Hyacinthe?
- What is the outlook for job opportunities and economic development in Saint-Hyacinthe over the next few years?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in the province of Quebec, this city is a significant hub known for its agriculture and agri-food sector. It boasts a rich history dating back to the 18th century and is home to many historical buildings and museums that reflect its cultural heritage. The city is well-regarded for its educational institutions, particularly in areas related to agriculture and food sciences. It hosts various events and festivals throughout the year that celebrate local culture, crafts, and cuisine, making it an engaging place for both residents and visitors. With a strong sense of community and a focus on sustainable practices, this location continues to grow and adapt to modern challenges while embracing its roots.
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!