In the second quarter of 2025, the United States experienced a marked increase in serious delinquencies across multiple consumer debt categories, signaling potential stress in the credit market. Student loan debt serious delinquency rates reached a record high of approximately 13%, the highest level since data tracking began in 2003. This surge followed the end of a student loan repayment moratorium and the resumption of delinquency reporting to credit agencies, as noted by the Federal Reserve Bank of New York. Concurrently, credit card debt delinquency rates for accounts overdue by 90 or more days rose to 12.3%, the highest in 14 years and just below the all-time peak recorded in 2011. Auto loan serious delinquencies also increased to 5.0%, the highest in five years. These trends were observed across all age groups and are reminiscent of patterns seen during the Great Financial Crisis, raising concerns about a broader consumer debt crisis emerging in the US economy.