But there is a way. What is the difference between the OPD program and bankruptcy? Debts covered under the OPD program: Credit cards Personal loans Overdrafts Lines of credit Unsecured loans Utility and cell phone bills for discontinued services Student loans Payday loans Income tax and over-payment of social services Term loans.
Trustees: Our counsellors can explain the process, effects and costs of bankruptcy and Consumer Proposal options. To find a trustee near you, visit the website for the Office of the Superintendent of Bankruptcy or search via Google or Yellow Pages. 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 Our debt counsellors will explore debt relief options with you and provide information so you can confidently tackle your debts in the best possible way.
Success Stories Thousands of Albertans just like you have struggled with debt. Here are their stories. Read More. To: Names and addresses of creditors, and debtor, as the case may be, receiving notice. DATED at the day of Clerk of the Court, or other applicant. Upon application of , debtor, and upon reading the affidavit of the debtor, filed, and upon hearing the debtor and the registered creditors :.
IT IS ORDERED that the present circumstances of the debtor do not warrant the immediate settling of amounts of payment into court or the times of payment thereof, or that the debtor pay to the Clerk of the. Court of , centre. DATED at this day of Date Particulars of Amendment Amended by. I hereby consent to the issue of a Consolidation Order providing for the payment in full of the debts of the said debtor over a period longer than three years.
To: , Debtor. TAKE NOTICE that you are required to give the Clerk of this Court an assignment to himself as Clerk of the Court of any monies due, owing or payable to you, or monies to become due, owing or payable to you, or earned or to be earned by you from. I, of hereby assign to the Clerk of the Court of Province of Judicial, District, Centre or as the case may be all moneys due, owing and payable to or to become due, owing and payable to or earned or to be earned by me from to be paid to the aforesaid Clerk in the manner and amounts as follows:.
AND FURTHER take notice that unless an objection to this claim is filed with the Clerk, within twenty days from the date hereof, the creditor will be added to the register and be entitled to judgment for that amount.
I, , of , in the Province of , make oath or solemn affirmation and say that:. Sworn or affirmed before me at , in the Province of , this day of TAKE NOTICE that as debtor is in default over 90 days on payment under Consolidation Order No dated the day of , 20 , you are entitled to proceed forthwith, independently of all other creditors and without reference to the Court, for enforcement of your claim under the Consolidation Order.
Both a consumer proposal and OPD have the same impact on your credit rating rating. So typically you find that an Orderly Payment of Debt will cost you more, and there is no real benefit to that higher price as it is reported in the same way to the credit bureau at least with Equifax.
So where you are better served under with Orderly Payment of Debt? If your income is high enough that you can afford to pay your debts in full but the interest relief of an OPD would help, then I would suggest pursing this option. The fact that you have read this article suggests you are on the right track, you are researching your options and that is essential.
But the next step is to contact a local trustee to book a free consultation. If you are in or near Edmonton , contact me directly. If you are elsewhere in Canada, find a local bankruptcy trustee who will help you determine what options are available in your area, help you to determine what options will work best for you and answer any additional questions you might have.
Hi Dave.
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