Alberta Credit Counselling
You want good financial advice, but you want it from someone you can trust. We get that. That’s why as a not-for-profit organization, we provide unbiased advice, always keeping your best interest in mind. Whether we’re explaining how you can manage and repay your debts efficiently on your own or providing interest relief and creditor protection with the Orderly Payment of Debts program, we want a solution that will bring you total peace of mind.
If you’re having trouble paying bills and are considering bankruptcy, we can help. Declaring bankruptcy is a legal way to handle your debts, but it is not the best option for everyone. Depending on the situation, a bankruptcy can stay on your credit report from 6 to 14 years in Canada, which could affect your ability to get credit later.
Start by meeting with a credit counsellor to review your financial situation and discuss alternatives to bankruptcy. Alberta residents can use a legal proceeding called a consolidation order or orderly payment of debt that combines all of your debts into one to help you pay down debt. A credit counsellor will explore all debt relief options with you and provide information so that you can confidently tackle your debt the best way possible.
The Orderly Payment of Debts Program (OPD)
Even with good intentions, debt can become unmanageable over time. When that happens, your best option might be a debt management program like the Orderly Payment of Debts (OPD) program. Through the OPD program, you can repay your debts in full and your interest rate drops to 5%. And yes, the collection calls will stop too.
Here are some of the benefits of the Orderly Payment of Debts program:
No start-up fees
Covers all unsecured debt, including student loans and income taxes
Access to your counsellor for the whole program
A rebate on fees for successfully completing your debt repayment program
Online access to your account to track your progress
Is the OPD program the right debt consolidation for you?
Click here for a free self-assessment.
Money Mentors is the only provider of the Orderly Payment of Debts program and manages it on behalf of the Government of Alberta.
Debt Relief Options and Resources
Everyone’s debt situation is different, which means every client needs a unique and customized approach. Our credit counsellors have access to a wealth of additional resources so that clients can get any additional assistance they need through our network of referral services:
- Trustees in Bankruptcy – Our credit and debt counsellors can explain the process, effects, costs of bankruptcy and will share consumer proposal options. To find a trustee near you, go to the Yellow Pages or the website for the Office of the Superintendent of Bankruptcy.
- 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)
To book your free Financial Needs Assessment with a credit counsellor phone 1-888-294-0076 or e-mail us at email@example.com
For more online information, visit our Money Management tools including financial education videos, debt management quiz, spending plan forms, financial calculators, tip sheets on dealing with debt, saving strategies and more.