Four in Ten Homeowners Seeking Debt Help Cite Credit Card Balances, MortgageSolvers Data Shows

Review of nearly 500 consultations finds about 1 in 10 callers also dealing with a consumer proposal or CRA debt; Calgary-based team has arranged $16.8 million in financing since November 2025

CALGARY, Alberta--(BUSINESS WIRE)--Four in ten homeowners who contacted MortgageSolvers for debt help over the past three months named credit card debt as a primary concern, according to new consultation data released today by the Calgary-based mortgage team.

MortgageSolvers reviewed nearly 500 discovery calls held between August and October 2026. Of those calls:

• 40% involved credit card debt
• About 1 in 10 involved a consumer proposal
• About 1 in 10 involved money owed to the Canada Revenue Agency (CRA)

“Most people who call us didn’t get here through one bad decision,” said Ethan Pushpakaran, President of MortgageSolvers. “They’re paying 20% or more on credit cards while sitting on home equity that could carry that debt at a fraction of the cost. Our job is to lay out the real numbers and every option, including when refinancing isn’t the right move.”

Since November 2025, MortgageSolvers has arranged 64 mortgages for Alberta homeowners, totalling approximately $16.8 million in financing. Most consolidated high-interest consumer debt into a single mortgage payment.

For homeowners carrying high-interest debt, MortgageSolvers suggests three first steps:

1. Add up the true monthly cost of every debt, including interest rates and minimum payments.
2. Find out how much equity is in the home before assuming refinancing is off the table.
3. Get independent advice before signing a consumer proposal or debt settlement agreement.

The full findings, methodology and a guide to debt consolidation options are available at https://mortgagesolver.ca/news/homeowner-debt-report-2026.

About MortgageSolvers

MortgageSolvers is a Calgary-based mortgage team that helps Alberta homeowners consolidate high-interest debt, including credit cards, consumer proposals and CRA debt, by refinancing with home equity. It serves homeowners across Alberta, including Calgary, Edmonton, Lethbridge, Airdrie and surrounding communities. Learn more at https://mortgagesolver.ca.