Through a debt consolidation program, Credit Canada Debt Solutions can consolidate your debts and provide you with a road map to becoming debt free.You will meet with a highly trained credit counsellor who will: It is important to remember that when dealing with debt problems you deal with the problems and not the symptoms.Actual results and loan or line of credit payment amounts and repayment schedules may vary. Applicants must meet CIBCs lending criteria; all personal lending products are subject to credit approval. Products and their interest rates may change at any time without notice. A debt consolidation loan is a single loan (generally from a financial institution) that allows you to repay your debts to several or all of your creditors at once.CIBC does not use the information in local shared objects for analytical or other purposes.
There are three main ways to consolidate your debt into your mortgage.
You are then left with only one outstanding loan — to the financial institution.
In addition to streamlining your debts into a single payment, a debt consolidation loan may also offer you an interest rate that is lower than that charged by your creditors saving you money in interest charges.
Consolidation loans are one way to tackle debt problems but credit counselling with one of our highly trained credit counsellors is always a good first step.
Your credit counsellor will go through your budget to see what options are available for you to deal with your debt.