Sainte-Marthe-sur-le-Lac
Debt Management Solution Experts
Sainte-Marthe-sur-le-Lac, debt help, Quebec
Sainte-Marthe-sur-le-Lac, a charming Quebec town, offers a blend of natural beauty and community spirit but faces financial challenges. A significant loan for dike repairs, compounded by rising interest rates, strains local finances, potentially leading to higher taxes. Inflation further burdens residents, impacting daily affordability and local services, making debt relief increasingly vital for those struggling financially.
City: Sainte-Marthe-sur-le-Lac
Province/Territory: Quebec (QC), Canada
Est. Population: 19,797
Financial Challenges
Living and working in Sainte-Marthe-sur-le-Lac can be tough if you’re having money problems. The city had to take a big loan of over $40 million to fix the dike that protects everyone from floods. When interest rates went up, the amount the city has to pay each month for this loan doubled. This means the city has less money to spend on other things, which can lead to higher taxes for people living there. Also, because the city had to negotiate with the government to get more money, they now own the dike, adding more responsibility and costs.
Inflation is another big problem. Prices for things like food, gas, and housing have gone up, making it harder for people to afford their everyday needs. The city also has to pay more money to larger organizations, which takes away money that could be used for local services. This financial strain might mean that some services are not as good as before, or there might be fewer jobs available. All these challenges make it difficult for people who are already struggling with money to live comfortably in Sainte-Marthe-sur-le-Lac.
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 Sainte-Marthe-sur-le-Lac, 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 | 9,305 |
| Living in poverty | Number of residents who are living in poverty | 2,197 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 216 |
| Insolvencies | Number of residents who filed for insolvency | 49 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 38 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 12 |
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 Centre-ville is the heart of Sainte-Marthe-sur-le-Lac, featuring charming shops, restaurants, and community facilities. It’s a vibrant area that attracts both locals and visitors with its lively atmosphere and accessibility.
Lac des Deux Montagnes This picturesque area is known for its beautiful views of the lake and recreational activities such as boating and fishing. The residential developments here offer a tranquil lifestyle close to nature, making it a popular choice for families and retirees.
Bord de l’eau The Bord de l’eau neighborhood is characterized by its waterfront properties and stunning vistas of the water. It provides a peaceful living environment, ideal for those who enjoy outdoor activities and a closer connection to nature.
Les Jardins de Sainte-Marthe A well-planned community known for its modern homes and family-friendly amenities. This area offers parks, schools, and easy access to major roads, making it an attractive option for young families.
Quartier des Érables This neighborhood is recognized for its mature trees and spacious lots, offering a blend of suburban comfort and natural beauty. It is popular among those seeking a quieter lifestyle with convenient access to the town’s amenities.
Secteur du Parc Close to local parks and green spaces, the Secteur du Parc is ideal for outdoor enthusiasts. The residential homes here are often surrounded by nature, providing a family-friendly environment with ample opportunities for recreation.
Vieux Sainte-Marthe Vieux Sainte-Marthe is steeped in history, featuring older architecture and a charming small-town feel. This area is perfect for those who appreciate a sense of heritage and community, with local shops and services easily accessible.
Illustration of Sainte-Marthe-sur-le-Lac, Quebec, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Sainte-Marthe-sur-le-Lac, 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 average cost of housing in Sainte-Marthe-sur-le-Lac?
- How does the cost of living in Sainte-Marthe-sur-le-Lac compare to nearby cities?
- What are the job opportunities like in Sainte-Marthe-sur-le-Lac, and what is the average salary?
- What financial assistance programs are available for residents in Sainte-Marthe-sur-le-Lac?
- How have property taxes changed recently in Sainte-Marthe-sur-le-Lac?
- What are the economic forecasts for Sainte-Marthe-sur-le-Lac in the next five years?
- What are the main financial challenges faced by residents of Sainte-Marthe-sur-le-Lac?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located on the shores of Lake Deux Montagnes, this picturesque town in Quebec offers a blend of natural beauty and community charm. Known for its parks and waterfront activities, residents enjoy various outdoor pursuits including hiking, biking, and fishing. The town has a rich history, evident in its architecture and community events, fostering a close-knit atmosphere. Its proximity to the larger metropolitan area of Montreal provides residents with easy access to urban amenities while retaining a quieter, more suburban lifestyle. The local government focuses on enhancing infrastructure and community services, making it an inviting place for families and individuals alike.
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!