Need advice on managing debt? | Debt consolidation | CIBC

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Need advice on managing debt? We can help.

We understand debts can be stressful — that’s why we’re here to help you become debt-free sooner.

Meet with us

Apply online, find a branch, or call 1-866-525-8622

What is debt consolidation?

Debt consolidation is a way to pay off multiple unpaid balances by combining them into one lower-interest loan or line of credit for faster repayment.

Consolidating multiple debts can help you:

Save on interest costs

A higher portion of payments will go towards your balance.

Organize your payments

Enjoy one easy payment instead of paying multiple creditors.

Lower your payments

Lower payments will improve cash flow and budget for other expenses.

Repay debts faster

A lower borrowing cost means a smaller debt and faster repayment.

What are your debt consolidation options?

Explore the solutions below or talk to a CIBC advisor for personalized advice.

Use the value of your home to your advantage

Pay off high-interest debts faster with a lower-interest CIBC Home Power Plan.

Get flexible access to funds while repaying your debt

Take advantage of interest rates lower than most credit cards with the CIBC Personal Line of Credit.

Pay off your debt within a set time period

Pay a fixed amount weekly, bi-weekly, or monthly with a CIBC Personal Loan.

Get your very own debt repayment plan

Schedule a meeting with a CIBC advisor so we can tailor the best action plan for you.

Get started

Call us: 1-866-525-8622

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