In Q1 2013, total household indebtedness fell to $11.23 trillion, 1% lower than in Q4 2012 and way down from the peak of $12.68 trillion in Q3 2008. Mortgage debt now stands at $7.93 trillion, HELOCs are at $522 billion, student loans are at $986 billion (yikes) and auto, credit card and consumer loans total $1.8 trillion. While less debt is good in the long-run, deleveraging is delaying the recovery.