Alberta orderly payment debt program

What is the difference between the OPD program and bankruptcy? 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.

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.

Success Stories Thousands of Albertans just like you have struggled with debt. Here are their stories. Read More. For Marilyn and Dave, this was their reality heading into retirement.

The faster you act to resolve your debt problems, the more options you will have. Each debt solution discussed in this article has certain qualifications that must be met: if you no longer qualify for OPD, consumer proposal might work, as it has for thousands of Canadians. And, if your debt problems are very serious, bankruptcy, with its greater impact on your lifestyle and credit rating, may be your only option. For more details about Orderly Payment of Debts , and the other insolvency solutions discussed in this article, please contact us now for a free, confidential consultation with a Licensed Insolvency Trustee.

The Trustee will be happy to review your situation with you and help you decide the best possible course of action. Your first appointment is free. What About Bankruptcy? The program generally defaults after several missed payments and the creditors will pursue you for the default amount plus accrued interest. They will charge and administration fee and monthly fee based on the size of the payment.

Most of their funding comes directly from the creditors. Like the credit counselling option this can be a good option for those with assets that they cannot or will not readily sell to address the debt, and want to avoid bankruptcy. They are eager to have people sign up as this is how they get paid. You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account.

You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Skip to content The orderly payment of debts program is administered through the money mentors organization on behalf of the province of Alberta. Here is what you need to know about the OPD Make sure you know what your goal is.