More Albertans mired in debt are declaring bankruptcy, according to the latest government statistics.

In November, 640 Albertans declared bankruptcy, up 37 per cent from the year before. Only 45 of those bankruptcies were businesses.

Overall, statistics from the Office of the Superintendent of Bankruptcy Canada showed business and personal bankruptcies across the country were up 14 per cent in November 2008 compared with November 2007.

Robert Price, vice-president of Hudson and Company Insolvency Trustees in Calgary, said although November 2007 was an unusually low month for bankruptcies, he is busier than he was a year ago.

A job loss or a divorce can lead to a bankruptcy, but some people are maxing out their credit, he said.

"There is more debt out there and consumer debt has risen dramatically. People are carrying more household debt now than they ever did before, and at some point it becomes unmanageable and they're not able to repay all the money that they owe."

Price said the average was about $20,000 10 years ago but now he has seen people file for bankruptcy with debt ranging from $50,000 to $200,000.

He said people aren't able to refinance because house prices are no longer soaring.

"They are having to go into bankruptcy because they don't have any equity left to solve their problems with."

He expects bankruptcies in Alberta, which had been below the national average for several years, will soon keep pace with national trends.