Introducing the only Alberta-based non-profit credit counselling agency.
Introducing the only Alberta-based non-profit credit counselling agency.
"The strain and stress on our immediate lives changed almost overnight."
Years serving Albertans
Helped Albertans Pay Back
Albertans Helped
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Pretty much all Albertans have some debt, but when debt becomes overwhelming, it can be difficult to see a way forward. Money Mentors offers a unique debt consolidation repayment plan called the Orderly Payment of Debts (OPD) program, a federally legislated solution under the Bankruptcy & Insolvency Act (BIA) and monitored by the Province of Alberta.
Designed to be flexible, it fits any Albertan’s lifestyle and life circumstances, making it a stress-free way to consolidate all unsecured debts into one easy payment plan. With a fixed 5% interest rate and a clear path to becoming debt-free within five years, the OPD program helps clients regain financial control. Based in Alberta, Money Mentors is a non-profit organization and the exclusive provider of this program.
As Alberta’s only non-profit credit counselling agency, we’re here to help—not to sell. Our proven process puts your needs first, offering the clarity and support you need to take control of your finances.
Feature | OPD Program (Orderly Payment of Debts) | Bankruptcy |
---|---|---|
Debt Repayment | Full repayment of unsecured debts | May eliminate some or all debts |
Interest Rate | Fixed 5% interest rate | No interest, but trustee fees apply |
Monthly Payments | One consolidated monthly payment | Payments vary based on income and assets |
Asset Protection | Keep all assets | Some assets may be sold to pay creditors |
Credit Impact | Stays on credit report for 2 years after completion | Stays on credit report for up to 7 years |
Creditor Actions | Collection calls and wage garnishments stop | Collection actions stop, but assets may be seized |
Alternative to Bankruptcy | Yes, a structured repayment plan | No, it is an insolvency process |
The OPD program is a federally legislated debt consolidation program, monitored by the Province of Alberta, that helps individuals repay unsecured debts through a structured repayment plan with a fixed 5% interest rate.
The OPD program consolidates all your unsecured debts into one easy monthly payment, stops collection calls and wage garnishments, and ensures you pay off your debt within five years.
The program covers credit cards, personal loans, lines of credit, payday loans, student loans, income tax debt, and more.
Unlike bankruptcy, the OPD program allows you to fully repay your debt while keeping your assets. It also has a lower impact on your credit, remaining on your report for only two years after completion.
No, there are no start-up fees or hidden costs. The program is designed to make debt repayment affordable and stress-free.
Clients receive personalized debt counseling, access to free financial education courses, and additional resources to help them build long-term financial stability.
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Head Office:140, 109 Quarry Park Blvd SE
Calgary, AB, T2C 5E7
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