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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