The OPD Program
What is the Government of Alberta Orderly Payment of Debts program?
Money Mentors is the only provider of the federally legislated Orderly Payment of Debts (OPD) program, which is designed to be flexible and tailored to any Albertan’s busy lifestyle. It’s also a stress-free way of consolidating all of your debts into one easy payment plan.
FREE OPD Assessment - How much will your payments be?
Enter your total unsecured debt:
( sample: 53200 - not 53,200.00 )
Your monthly OPD payment is:
What do I do now?
Think of your own personal circumstances and consider that:
- a shorter or longer term may suit you better
- other commitments may end soon (like a car payment), allowing you to increase some or all of your payments to pay off the debt sooner
- you have more cash flow than you thought, so perhaps you can pay off your debt yourself
Our credit counsellors will review your situation in detail to assist you in determining how you can make things work with your spending plan, reviewing all your options to help you make the best choice for you.
Call us today to book a free appointment to discuss your unique situation. We will help get you on the right track to managing your money for your future success.
Call us today at 1-888-294-0076 or email email@example.com for a free appointment
To take our online quiz please view this page on our desktop site.
The Difference Between Bankruptcy and OPD
If you’re having trouble paying debts and are considering bankruptcy, we can help. Declaring bankruptcy is a legal way to handle your debts, but it is not the best option for everyone. Depending on the situation, bankruptcy can stay on your credit report for 6 to 14 years in Canada, which could affect your ability to get credit later.
As a positive alternative to bankruptcy, Alberta residents can use the OPD program. This program combines all unsecured debts into one monthly payment at a fixed interest rate of 5%.
The OPD program was designed with flexibility in mind so it can be tailored to any Albertan’s lifestyle. Clients within the program are able to monitor their progress by logging onto their online profile on MoneyMentors.ca.
Benefits of Debt Consolidation through OPD:
- No start-up fees
- Fixed 5% interest rate
- Protection against creditor action (collection calls stop)
- All unsecured debts are consolidated into one program
- Access to a counsellor for added guidance and support every step of the way
- Clients learn money management skills by enrolling into FREE financial seminars and courses
Debts covered under the OPD program:
- Credit cards
- Personal loans
- 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 counsellors have access to a wealth of additional resources so clients can get any additional assistance they need through our network of referral services.
- Trustees in Bankruptcy: Our credit and debt counsellors can explain the process, effects, and costs of bankruptcy and will share Consumer Proposal options, but more details can be referred to a trustee. To find a trustee near you, go to the website for the Office of the Superintendent of Bankruptcy or visit the Yellow Pages for Calgary Bankruptcy Trustees, Edmonton Bankruptcy Trustees or see all Alberta Bankruptcy Trustees.
- 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)
A credit counsellor will explore all debt relief options with you and provide information so you can confidently tackle your debt the best way possible. To speak to Money Mentors about the OPD program, call 1-888-294-0076, e-mail us at CSRmail@moneymentors.ca or visit one of our 6 Alberta locations.
Find more information on credit counselling, money coaching or visit our Learning Centre for financial education videos, a debt management quiz, spending plan forms, financial calculators, tip sheets on dealing with debt, saving strategies and more.