Americans' household debt has surged to a record high of $18.59 trillion, according to a recent report from the Federal Reserve Bank of New York. This figure represents an increase of $197 billion from the previous quarter, marking a significant rise in debt levels since the end of 2019, when total debt was $14.19 trillion.

The report, covering the period from July to September 2025, highlights that credit card debt has reached an all-time high of $1.23 trillion, up by $24 billion in just three months. This increase reflects a nearly 6% rise compared to the same period last year. Meanwhile, auto loan balances remained stable at $1.66 trillion, and student loan debt rose by $15 billion to $1.65 trillion. Other debts, including retail credit cards and consumer finance loans, also saw an increase, totaling $550 billion.

Overall, non-housing debt increased by $49 billion, which is a 1% rise from the previous quarter. The report indicates that delinquency rates are concerning, with 4.5% of all outstanding debt in some stage of delinquency, the highest level since before the pandemic. Notably, nearly 10% of student loan debt is reported as 90 days delinquent or more, a trend that has been exacerbated by missed federal student loan payments that were not previously reported to credit bureaus.

Joelle Scally, an Economic Policy Advisor at the New York Fed, commented on the situation, stating, "Despite a slight increase in mortgage delinquency, overall mortgage performance remains strong by historical standards." The report provides a detailed overview of household borrowing trends and the financial pressures facing U.S. consumers as they navigate rising debt levels.

As households grapple with these financial challenges, experts suggest that borrowers should consider strategies to manage their high-rate debts effectively. Options include balance transfers to lower interest rates, debt consolidation loans, and seeking assistance from credit counseling agencies. Taking proactive steps can help individuals regain control over their financial situations and reduce the burden of debt.

The Federal Reserve Bank of New York's report serves as a crucial resource for understanding the current state of household debt in the United States and the implications for consumers moving forward.