Debt Repayment Options
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      2. Debt Repayment Options

      Debt Repayment Options

      Advantages and Disadvantages of each option, as well as when each option is viable.

      Do Nothing

      Debt Consolidation Loan

      Informal Agreement with Creditors

      Debt Management Program (DMP) - Offered through Credit Counselling Society

      Orderly Payment of Debts (OPD) - Offered through Money Mentors

      Consumer Proposal (debts less than $250,000, excluding principal residence mortgage)

      Division I Proposal (debts over $250,000, excluding principal residence mortgage)

      Bankruptcy