The number of Albertan’s suffering serious financial problems rose again last fall, according to a report released Tuesday by the Office of the Superintendent of Bankruptcy Canada.

In Alberta, consumer insolvency filings, which include bankruptcies and proposals to settle debts, increased 26.4 per cent in November 2016 compared to November 2015. Bankruptcies alone increased 28.5 per cent.

Alberta ranked third behind Saskatchewan and Newfoundland. The national increase was 8.6 per cent.

“Overall, the trend is the numbers have increased and that’s reflective of what I’m seeing as a licensed insolvency trustee,” said Freida Richer, vice-president and principal with Grant Thorton.

Pre-recession optimism and large mortgages caused Albertans to enter the recession with already high debt levels, Richer said. That led to increased delinquency rates over the past two years.

“The number one reason people miss their payments is job loss or a temporary disruption to income. The second reason is temporary reserve funds — EI benefits, severance — have run out.”

Richer says Albertans struggling with debt should put a freeze on their spending until they’ve explored their options and have a plan in place.

“Don’t be afraid to reach out for help,” Richer said. “Bankruptcies are meant to be a last option.”

By the Numbers:

13,013: Total number of consumer insolvencies in Alberta between November 2015 and November 2016

39.4: Percentage increase in Alberta compared to same period one year earlier

18.2: Percentage increase in Alberta between November 2014 and November 2015

126,573: Number of Canadian consumer insolvencies from November 2015 to November 2016

4.5: Percentage increase in Canada compared to same period one year earlier

3.4: Percentage increase in Canada between November 2014 and November 2015