You’re Paying 22% Interest? The OPD Program Alberta Cuts That to 5%
Debt can feel like an uphill battle, but for many employed Albertans, the Orderly Payment of Debts (OPD) program offers a structured way to regain control. Instead of juggling multiple payments and high interest rates, OPD lets you combine your debts into one manageable payment with a fixed interest rate. It’s a clear path toward financial stability, and best of all, it’s government-backed and available regardless of your credit score.
So, what kinds of debt qualify for OPD? Let’s break it down in a way that makes sense for everyday Albertans.
What is the Orderly Payment of Debts (OPD) Program?
The Orderly Payment of Debts (OPD) program is a government-backed debt repayment program designed to help Albertans pay off their unsecured debts in a structured and affordable way. It is backed by federal legislation and administered exclusively by Money Mentors.
Through the OPD program, you can consolidate multiple unsecured debts — such as credit cards, payday loans, personal loans, and lines of credit — into one manageable monthly payment. This means:
- Lower stress — No more juggling multiple payments with different due dates.
- No more collection calls — Creditors must stop contacting you.
- A fair repayment plan — You pay back what you owe in a structured, predictable way.
- A fixed 5% interest rate — Far lower than most credit cards and payday loans.
- Debt-free in 5 years or less — With a clear path to financial stability.
Unlike some other debt solutions, OPD allows you to pay off your debt in full, helping you rebuild financial health without declaring bankruptcy or risking major damage to your credit.
Types of Debt That Can Qualify for OPD in Alberta
If you’re unsure whether OPD can help with your specific debt situation, here’s a list , complete with examples of what can be included:
1. Credit Card Debt
Money owed on a credit card or store financing plan, whether current, overdue, or in collections.
- Credit card balance from a major provider (Visa, MasterCard, Amex).
- Store credit card balances from a big-box retailer, clothing store, or electronics warehouse.
- A financing plan for furniture, appliances, or tech that still has payments left.
2. Personal Loans
A lump sum borrowed from a bank, credit union, or online lender that’s paid back in fixed amounts.
- A personal loan taken out for home repairs or unexpected expenses without any collateral held as security.
- Bank or credit union unsecured loans, such as loans taken for wedding expenses or for debt consolidation loans.
- An installment loan from an online lender used for bills or an emergency.
3. Overdraft
When you’ve spent more than what’s in your chequing account, leaving you with a negative balance.
- Bank account overdraft, showing up as a negative balance (e.g., Balance: –$1,793).
- Automatic bill payments going through even when there isn’t enough money.
- Overdraft protection covering a transaction but creating a new balance to repay.
4. Payday Loans
A short-term, high-cost loan meant to cover you until your next paycheck .
- Payday loan from the corner cash store or an instant loan app.
- A high-fee cash advance taken out to cover things like rent, groceries, or car repairs.
- A small loan with a two-week repayment period that snowballed into a bigger problem.
5. Buy Now, Pay Later Plans
A payment plan that lets you split a purchase into smaller, scheduled payments.
- A “buy now, pay later” balance from an online store or in-app financing option.
- Breaking up the cost of online purchases into biweekly payments.
- In-store financing for a couch, a gaming console, or a mattress still being paid off.
6. Unsecured Lines of Credit
A flexible borrowing option where you can take out money as needed, up to a limit.
- An unsecured personal line of credit from a bank, credit union, or other lender.
- A digital lender that offers a “revolving” credit line used for bills or emergencies.
- Often used for debt consolidation and other emergency expenses.
7. Utility Bills
An unpaid balance for electricity, internet, or other essential services.
- Power, water, phone, internet, or gas bills that are past due.
- Internet or phone bills sent to collections.
- A cell phone provider that cut off service because of an overdue balance.
8. Rent or Lease Payments
Money still owed to a landlord or property manager for rent or breaking a lease early.
- Unpaid rent from a previous apartment, now in collections.
- A lease broken early, with payments still owed for the remaining months.
- Overdue rent payments that could lead to eviction if unpaid.
9. Medical & Dental Bills
Unpaid healthcare costs not covered by insurance.
- A dental bill for a root canal, braces, or fillings that wasn’t paid in full.
- A physiotherapy or chiropractor visit not covered by work benefits.
- A payment due to the eye doctor for new glasses or contact lenses.
10. Court Judgments (Unsecured)
A legally enforced debt from a lawsuit or small claims court case.
- A small claims court ruling saying you owe money.
- A collection agency taking you to court over an unpaid bill.
- A financial dispute where the court ordered repayment.
11. Business Debts (If Personally Guaranteed)
Money owed for a business loan or expenses that you’re personally responsible for.
- A business loan balance where you signed a personal guarantee.
- Supplier invoices for business expenses that still need to be paid.
- A credit line taken out for a side hustle or startup, past due or still up-to-date.
12. Income Tax Debt (CRA)
Money owed to the government for personal or business taxes.
- Personal income tax owed after filing your tax return.
- GST, payroll, or self-employment tax that wasn’t set aside.
- A tax payment plan that still has a balance remaining.
13. Child or Spousal Support (Private Agreements)
Unpaid financial support that was agreed upon but isn’t enforced by the government.
- Missed child support payments from an informal agreement.
- Money promised for school costs, medical expenses, or living expenses.
- Support payments agreed on after a breakup, but not legally enforced.
14. (Older) Student Loan Debts
Education loans that must be repaid after graduation or after a deferral period.
- A government student loan that’s now due for repayment.
- A private student loan balance from a bank or online lender.
- A student line of credit that was used for tuition, books, and living expenses.
15. Subscription & Membership Debt
Unpaid charges from subscriptions or memberships that auto-renewed or weren’t cancelled in time.
- A gym membership still charging after you stopped going.
- A streaming service subscription balance that got sent to collections.
- A software or beauty box subscription with a missed payment.
16. Loan Co-Signing & Guarantor Debt
Debt from co-signing a loan where the other person stopped paying, leaving you responsible.
- A car loan you co-signed for a family member who stopped making payments.
- A business loan you guaranteed for a friend’s startup that didn’t take off.
- A personal loan you co-signed that became your responsibility.
17. Vehicle Repossession Balances (Unsecured)
A balance still owed after a repossessed car is sold but doesn’t fully cover the loan.
- A car loan where the vehicle was repossessed, but money is still owed.
- A repossessed motorcycle, RV, or boat that left an outstanding balance.
- A lease buyout balance remaining after returning a vehicle early.
18. Retail & Store Financing
A payment plan for store purchases that still has a balance remaining.
- A store financing plan for furniture, a TV, or home gym equipment.
- Monthly installment plan for a mattress, washing machine, or laptop.
- A “no interest for 12 months” deal that started charging interest.
19. Money Owed to Family & Friends
A personal loan borrowed from someone you know, with the expectation of repayment.
- Money borrowed from a friend or family member to cover bills or car repairs.
- An informal loan that was never fully paid back.
- A “borrowed” amount that turned into an awkward unpaid debt.
20. Insurance Premium Arrears
Unpaid insurance payments that could lead to coverage being cancelled.
- Missed car, home, or life insurance premiums.
- An overdue policy balance that could lapse.
- Insurance charges sent to collections after non-payment.
21. Legal Fees
Outstanding balance owed for legal services from a lawyer or law firm.
- A lawyer’s bill for a divorce, contract dispute, or lawsuit.
- A retainer fee for legal representation that wasn’t fully paid.
- Court-related legal fees that still need to be paid.
This list is not exhaustive — if you have a debt and want to know if it can be included, call Money Mentors at 1-888-294-0076 to speak with one of our experts. We’re happy to walk you through your options and find the best solution for your situation.
Why OPD Works for So Many Albertans
The OPD program isn’t just about repaying debt — it’s about helping you take back control of your finances. By rolling your debts into one fixed-payment plan, you get:
- A lower interest rate to make repayment easier
- Protection from collection calls and wage garnishment
- A structured plan that leads to full debt repayment
Imagine a Debt-Free Future
Picture your life five years from now…
- No stress over overdue bills
- No maxed-out credit cards
- No fear of debt collectors calling
With OPD, this can be your future. The first step is reaching out for help.
Get Debt Relief Now — Call us Today
At Money Mentors, we specialize in helping Albertans navigate debt repayment. If you’re tired of juggling bills and collection calls, OPD might be the right solution for you.
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