- Help Center
- Debt Repayment Options
- Orderly Payment of Debts (OPD) - Offered through Money Mentors
-
Consumer Proposals
-
Personal Bankruptcy
-
Debt Repayment Options
- 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
What are the advantages of an Orderly Payment of Debts?
There are three main advantages of choosing an Orderly Payment of Debts.
- The interest is set at 5%.
- It avoids bankruptcy.
- It can include debt owed to Canada Revenue Agency