Saint-Lambert
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Saint-Lambert, debt help, Quebec
Saint-Lambert, a charming city on the South Shore of the Saint Lawrence River, faces financial challenges affecting residents’ quality of life. Increased taxes, rising home prices, and debt from infrastructure maintenance add stress to those struggling with finances. With the larger Quebec province also facing economic issues, the city’s commitment to community and sustainability may be overshadowed by these debt relief concerns.
City: Saint-Lambert
Province/Territory: Quebec (QC), Canada
Est. Population: 22,761
Financial Challenges
Living in Saint-Lambert, Quebec, can be tough for those struggling with money. The city has increased taxes by almost 5%, which makes it harder for people to pay their bills, especially since this increase is still below the overall rise in prices. Additionally, Saint-Lambert has a lot of debt from fixing and maintaining roads, parks, and other important places. This means more of your taxes go towards paying off these debts instead of helping families directly.
For people who are working or trying to find jobs, the financial situation adds extra stress. The city’s budget is growing, which includes spending more on things like libraries and public works, but this also means higher costs for residents. Housing is another big issue because home prices are going up, making it harder to afford a place to live. On top of that, the larger Quebec province is facing its own money problems, which can affect the services and support available in Saint-Lambert. All these factors together make it challenging for people with money problems to live and work comfortably in the city.
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-Lambert, 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 | 10,698 |
Living in poverty | Number of residents who are living in poverty | 2,526 |
Debt defaulted | Number of residents who have defaulted on a debt payment | 248 |
Insolvencies | Number of residents who filed for insolvency | 57 |
Consumer proposal | Number of residents who filed for a consumer proposal | 43 |
Personal bankruptcy | Number of residents who filed for personal bankruptcy | 14 |
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 (Downtown) A vibrant area known for its charming shops, cafés, and restaurants. It’s the cultural heart of Saint-Lambert, often buzzing with local events and festivities.
Vieux-Saint-Lambert This historic district features beautiful heritage homes and tree-lined streets. It offers a quaint atmosphere and is highly regarded for its community spirit and local art displays.
Parc de la Gare A family-friendly neighborhood centered around the train station. It boasts green spaces and playgrounds, making it perfect for outdoor activities and family outings.
Saint-Lambert-sur-le-Lac A picturesque area located near the waterfront, providing stunning views of the Saint Lawrence River. It’s ideal for nature lovers and offers various recreational activities like boating and fishing.
Les Jardins de Saint-Lambert A residential neighborhood known for its spacious homes and lush gardens. It is a peaceful area with easy access to parks and schools, appealing to families seeking a suburban lifestyle.
Quartier des Affaires The business district features offices and services catering to local entrepreneurs and professionals. It’s a growing area that contributes to the economic vitality of Saint-Lambert.
Domaine-de-l’Île A newer residential development characterized by contemporary homes. This neighborhood emphasizes a community-focused lifestyle with modern amenities and green spaces.
La Route Verte A scenic area known for its cycling paths and walking trails. Ideal for outdoor enthusiasts, it promotes an active lifestyle while connecting to other parts of Saint-Lambert and beyond.
Illustration of Saint-Lambert, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Saint-Lambert, 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 Saint-Lambert, Quebec?
- How do housing prices in Saint-Lambert compare to nearby cities?
- What are the current economic trends affecting Saint-Lambert’s residents?
- What financial assistance programs are available for residents of Saint-Lambert?
- How has the COVID-19 pandemic impacted the job market in Saint-Lambert?
- What are the primary financial challenges faced by residents in Saint-Lambert?
- Are there resources or workshops for financial literacy available in Saint-Lambert?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Situated on the South Shore of the Saint Lawrence River, this charming city is known for its rich history and close-knit community. It was founded in the late 19th century and features a mix of beautiful homes, parks, and local shops that attract residents and visitors alike. The area is well-connected to Montreal, making it a convenient spot for commuters. With its commitment to sustainable development, the city also focuses on environmental responsibility and community participation, enhancing the quality of life for everyone.
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!