Credit card and auto loan delinquencies are the highest in more than a decade

(CNN)– Many Americans appear to be over extending themselves financially.

According to the Federal Reserve Bank of New York, credit card and auto loan delinquencies have reached the highest levels in more than a decade.

In general the U.S. household debt hit a staggering new high of $17.5 trillion.

Rising consumer debt levels can be expected after the holiday season but the New York fed is keeping a closer eye on the extent Americans are over extending.