There is no quick way out of debt. But there is a way. The Alberta Orderly Payment of Debts program has helped thousands of Albertans become debt free in five years or less.
Pretty much all Albertans have some debt. But when some debt becomes too much debt, it can be difficult to imagine how you will pay it all off. Money Mentors offers a unique debt consolidation repayment plan called the Orderly Payment of Debts (OPD) program. If you qualify for the OPD program you benefit from a fixed interest rate and can rest easy knowing that you will pay off all your debt within 5 years.
What our clients have to say
Meara P.
1736806965
Today I finished paying off my OPD program debt! I can’t thank Yve Boucher and the others on the Money Mentors team enough for all of their guidance. Throughout the 2 years that I worked with Yve she was always a call or an email away and I received guidance when I needed it and in a timely manner. I recommend Money Mentors to anyone that is struggling to get back into good financial shape. Shanae!! Meara
Ron H.
1730748085
Money Mentors rescued me from a debt problem I could never seem to overcome. After years of best intentions, trying to be responsible, borrowing from one source to pay another, and then losing my job, it became impossible to just get by another month. The stress and anxiety were bringing me down, and worse, bringing my wife down with me. I feared it would feel like defeat, and an embarrassment, to reach out for help, but I could not have been more wrong.I reached out to Money Mentors. We met with Alexander Martin who guided us through our options and setting up my OPD program. Alex was fantastic – empathetic, patient, kind, informative and thorough. For the first time in years it felt like there was light at the end of the tunnel. The strain and stress on our immediate lives changed almost overnight.It has taken some time, but the debt is now cleared. My responsibilities to creditors have been met, which was important to me personally. My wife and I communicate better about finances and budgeting. Now I’m working on gradually restoring my credit record to good standing, with a clear plan and timeline in place to accomplish that.I can’t imagine getting here without the incredible help of Money Mentors, we’re very grateful.Thank you, Alex!
Jennifer E.
1712853272
I was drowning in debt—there was so much of it. The calls from creditors didn't stop. My bank was no help.I contacted Money Mentors to inquire about the OPD program and their advice. I was prepared to dedicate myself to clearing my debts. I was ready to cut up my credit cards. My counselor and I worked through some homework before we created my payback schedule. Since I was determined to pay off this personal debt on my own, I made large monthly payments. The phone calls from creditors stopped, which was a relief.Despite some difficult months, I am debt free after 56 months! It has not sunk in yet. My perspective has changed from one of spending and worrying about it later to one of saving and planning. Though I still worry about going back into debt, I can always turn to the Money Mentors website for helpful guidance.
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What is the Orderly Payment of Debts (OPD) program?
The established Orderly Payment of Debts (OPD) program is a debt consolidation program legislated under the federal Bankruptcy & Insolvency Act (BIA) and monitored by the Province of Alberta. Designed to be flexible, it can be tailored to any Albertan’s busy lifestyle and life circumstances. It is the stress-free way to consolidate all your debts into one easy payment plan, making life more manageable. Based in Alberta, Money Mentors is a non-profit organization and the exclusive provider of the OPD program.
FREE OPD Assessment: How much will your payments be?
This is an estimate only. For more information on the Orderly Payment of Debts, including answers to common questions about the OPD program, check our FAQ page or call 1-888-294-0076.
Debt Consolidation Enabled This Dad to Pay Off $120K After Divorce and Rebuild His Life
What is the difference between the OPD program and bankruptcy?
If you’re having trouble paying your debts and are considering an insolvency program like bankruptcy, we can help. As a positive alternative to bankruptcy or a Consumer Proposal, Alberta residents are eligible for the Orderly Payment of Debts (OPD) program through Money Mentors to pay back your creditors fully. This program combines your unsecured debts into just one monthly payment, at a fixed 5% interest rate. Even better, you get to keep your assets, and it only stays on your credit report for two years after program completion.
Benefits of debt consolidation through the OPD program:
- No start-up fees
- Fixed 5% interest rate
- Federally legislated
- Protection against creditor action
- Collection calls stop
- Wage garnishments stop
- All unsecured debts are consolidated into one program
- Access to a debt counsellor for added guidance and support every step of the way
- Clients improve money management skills by enrolling into FREE financial seminars and courses
Debts covered under the OPD program:
- Credit cards
- Personal loans
- Overdrafts
- Lines of credit
- Unsecured loans
- Utility and cell phone bills for discontinued services
- Student loans
- Payday loans
- Income tax and over-payment of social services
- Term loans
Debt relief options and resources
Everyone’s debt situation is different, which means every client needs a unique and customized approach. Our credit counsellors have access to a wealth of additional resources, so clients can get the assistance they really need.
- Trustees: Our counsellors can explain the process, effects and costs of bankruptcy and Consumer Proposal options. To find a trustee near you, visit the website for the Office of the Superintendent of Bankruptcy or search via Google or Yellow Pages.
- Legal services: Pro Bono law, legal aid and other resources are available
- Service Alberta: Offers tip sheets and other resources
- Community services: Food banks, Family and Community Support Services (FCSS)
Our debt counsellors will explore debt relief options with you and provide information so you can confidently tackle your debts in the best possible way. To speak to someone on our Client Services team about the OPD program, please give us a call at 1-888-294-0076 or email us.
Success Stories
Thousands of Albertans just like you have struggled with debt. Here are their stories.
Read MoreDebt Consolidation Enabled This Dad to Pay Off $120K After Divorce and Rebuild His Life
Divorce is one of the biggest financial setbacks a person can face. For many Albertans, it means struggling with alimony, child support, and mounting debt. Mickey was no exception. After his 21-year marriage ended, he found himself drowning in $120,000 of debt — from credit cards, personal loans, and unpaid bills. Then, a sudden health […]
How the Orderly Payment of Debts Alberta Helped This Single Mom Erase $85K in Debt Without Bankruptcy
Imagine being a single mom, a full-time student, and $85,000 in debt — all while adjusting to a new life in Alberta. That kind of financial stress would feel impossible to escape. But Samantha’s story proves that with the right help, a fresh start is possible. A New Beginning with the Orderly Payment of Debts […]
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Trevor, a hardworking father from Alberta, got caught in a payday loan cycle that quickly became a $60,000 disaster. Even though he worked two jobs, he struggled with managing his money. Payday loans seemed like an easy fix, but they only made things worse. Every time he borrowed, he ended up owing even more, and […]
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