Total seasonally adjusted consumer debt fell $21.55 billion, or at a 10.4% annual rate, in July to $2.47 trillion. This is the sixth straight monthly drop in consumer credit. . . . This is the record 11th straight monthly drop in credit card debt.
From here (excludes mortgages on real estate).
Consumer debt levels are falling that a faster rate than any time in the last forty years, at least.