What is Alberta’s Debt Clock?

What is Alberta’s Debt Clock?

Written by Kale Havervold
Fact-checked by Caitlin Wood
Last Updated March 12, 2018

Just like the country itself has a federal debt, each province in Canada has their own provincial debt load. One of the best ways to know exactly what the current provincial debt level in Alberta (or any other province) is at is by viewing the province’s debt clock.

Want to learn about Ontario’s Debt Clock? Read this.  

What is the Debt Clock in Alberta?

A debt clock is essentially a running total of the provincial debt in Alberta. It is constantly, automatically updated, and can be seen online at any time. The debt clock for Alberta currently sits at over $41 billion and is growing every second. Every Albertan has a share of about $10,000 of this total debt.

How Quickly is it Rising?

As we mentioned, Alberta’s debt level is high but is steadily rising as well. In fact, the Alberta debt clock is rising by over $300 every second, and remember, that rising debt level only refers to the one specific province.

Click here to read about Canada’s Federal Debt Clock.  

The Personal Debt Problem in Alberta

So, while you can see that the provincial debt in Alberta is quite high, so is the debt held by the individual citizens in Alberta. In fact, no citizens of any province in Canada have more debt than most Albertans. In addition to holding a lot of debt, the debt delinquency rate is on the rise, which means that many people are really struggling with their debt and are finding it hard to stay on top of their payments.

What happens when you can’t make your loan payments on time? Look here for the answer.

Debt Relief Options

Thankfully, there are many debt relief options at your disposal in Alberta, as well as in the rest of the country. If you find yourself in over your head when it comes to debt, these are some of the best options you have to choose from.

Does the Federal Government provide debt relief? Find out here.

Debt Consolidation

It can be extremely hard to manage several different debt payments every month and debt consolidation can help by essentially rolling all of your many smaller debts into one large loan. You will sometimes be able to get a lower interest rate with a debt consolidation loan. As a result, managing your debts will become much easier, because you will only have one payment to make every month, instead of having to worry about several different ones.

If your application for a debt consolidation loan gets denied, read this.

Credit Counselling Programs

If you are not able to qualify for a debt consolidation loan or simply want to get more educated on budgeting or any other area of your finances, a credit counselling service might be the right option for you. These services will pair you up with a qualified and experienced credit counsellor, who will sit down with you and educate you on all things finance while you work together to figure out what option is right for your situation. Hopefully, the things you learn will help keep you out of debt for the foreseeable future.

To read about credit counselling in Alberta, click here.  

Debt Settlement

If you are very deep in debt and don’t have enough money or a large enough income to get out of it, settling your debt could be an option. In a debt settlement, you will work closely with a counsellor, who will reach out to your creditors and try to agree upon a possible debt reduction. Essentially, you’ll pay your creditors less than you actually owe, but your debt will be considered resolved.

Here are a few questions you should ask your debt settlement company.  

While this might sound amazing, debt settlement isn’t often the best choice, as future creditors will know you’ve settled past debt. This may keep them from lending to you as you represent a higher risk for them and may default on your loan again.


Bankruptcy should be a last resort, as it is a very drastic step to take. Sure, it will alleviate all (or at least most) of your debts, but it will also damage your credit and financial profile for years. You should only choose to file for bankruptcy if you have given it a lot of thought and have ruled out all of your other debt relief options.

Want to know more about the bankruptcy process in Alberta? Look here.

Don’t Let Your Debt Get Ahead of You!

In conclusion, we hope that this article has helped you learn about and understand the Alberta debt clock, in addition to helping you discover the various debt relief options available in the province if you are struggling with debts of your own.

In his over six-year career as a professional writer, Kale has focused on writing about finance, technology, cryptocurrency, entertainment, and sports. Kale's work has been published on Yahoo, RentHop, the Regina Leader-Post, LoansCanada.ca, and ReboundFinance.com. Kale loves to create a wide variety of personal finance-related content. Including everything from how-to guides to featured articles, to advice pieces and everything in between. Whether he’s writing about the newest piece of technology or providing tips to help people with their finances, Kale is passionate about educating Canadian consumers and making sure they have the information they need to make the best decisions.

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