Anyone seen the movie/DVD "Maxed Out"

[desperation]

I watched it last night, and found it to be very informative, emotional, and hard look on credit card companys and credit card debt in America today.

It had interviews with collection agencies and the sharks that work for them that had me boiling mad at their tactics. Calling your neighbors. your friends,
your family, anything to shame and embarass you into making a payment. One guy states they are like pirates walking you onto the plank only to pull you back at the last moment, to make you feel greatful you made a payment even if you didn't have one last dime to give them.


Good interviews with people who fought the system and won...to people who fought the system and lost..., to the tactics credit card lenders use to get you in debt and keep you in debt. On how they get you at the college age with the whole creditors on campus eager for you to sell your financial soul.

I think my new hero is Elizabeth Warren. (I don't know much about her so I may be misguided in stating that) , but she has stated this:
"One would expect the government to come down on the side of the consumer," said Warren. "Instead, it regulates on the side of the banks."

I will be buying this movie to watch if I'm ever tempted to get another credit card ever. Call it aversion therapy at its best.

For me watching this movie (because I'm living it) was like riding an emotional roller coaster, but it's worth seeing.

[whatamess]

Ive wanted to see this. Did you rent it? We dont have HBO or any premium cable channels so I would have to rent.
WAM

[desperation]

My better half has Blockbuster online for around $26.00 a month. So yes we rented it. She put this one on the list for me. You could probably get it thru Netflix as well. Since it's a documentary I'm not sure how available it will be for purchase. Amazon has the DVD available for purchase as well.

ImHO......kids coming of age should be required to see this film.

[CATCHMEIFYOUCAN]

Ill have to keep it in mind .. sounds very interesting !

CMIYC

[whatamess]

I watched some clips on Youtube. I will try to rent it now, looks good!
WAM

[desperation]

Maxed Out

Here is the link to the website for the preview of the movie. I have'nt seen the Youtube link

http://www.maxedoutmovie.com/

[IOIOIO]

I just watched it. The good news is that it doesn't tell you anything you can't learn pretty quickly from this forum.

[manglicmot]

My BK attorney and the local federal BK judge give seminars on debt at high schools. They are warning them what's out there before they get to that college campus and get swamped with credit card offers. But even with all of these warnings and education about debt, the credit card companies are still winning. They have most of us in their clutches and they are making enormous profits.

[Nowwhatohio]

I liked the movie but I have a few criticisms (some more juicy than others):

1) The titles in between scenes were in a very strange font. The odd white font on a black background was very very hard to read. My eyes kept going in and out of focus, and I have pretty good eyesight. They would also run titles in between scenes with audio running - it's very hard to read and listen at the same time (if possible at all).

2) It seemed to blame the BAPCPA/Evil Republicans for these kids deaths and horrible situations. After being through pre-bankruptcy screening and seeing what a soft touch it is I actually don't think the act is so bad. I took the course and got a certificate within hours (CCCS.org).

Sure, there needs to be emergency provisions for the sudden medical illness, death of a spouse, loss of a job.

I think if you really think about it and have had any experience with bankruptcy law in the past (talk about a soft touch), reform was needed. A debt counselor taking an honest look at someone's budget making a lot of money and attaching a repayment plan to the certificate is a good thing. Having people with a couple houses or a great job making tons of money go into Chapter 13 to repay some of the debt is a good thing.

They juxtaposed all the BAPCPA info with people getting credit cards in college then killing themselves. What is sad is that law would not prevent those kids from getting a clean slate.

And anyone who is smart enough to burn through $20,000 in credit card debt is smart enough to come up with $299 to file, IMHO

3) It mixed the idea of consumer debt and national debt. I think at a minimum this should have been explored further. The mixing made it seem like the world is ending, which it isn't. The Chinese hold a lot of our debt, sure - but they rely on us to keep their economy going so it's not such a bad thing. And yes, everyone should spend less, the government and people with shiny new convenience cards

4) Some practices by banks are downright horrible, but to my knowledge there was no mention of the word "responsibility" or maybe "read your contracts" in the whole film - one woman did admit "I did sign my life away" and another person who looked mentally challenged was told to sign on a line and he took 5 minutes forming his name - perhaps they should go talk to a contract attorney about voiding the contract rather than crying to a documentary filmmaker

[leftyf]

Reading the book...

I just started the book... I think it is is pretty familiar territory to a lot of us. It is a good read and will reaffirm (no pun intended) your understanding of our individual and collective debt issues.

[Blue_Ray]

I saw this also. One shocking moment for me was that I found out that MBNA Bank was one of his Bush's top companions for his election, and then when Bush fought to make it stricter on bankruptcy, the company that wrote that bill to make it stricter was MBNA and Bush supported. AMAZING!!!

Bush is a creep!!


As for this film. I cried and it sad to see people give up and commit sucide. I am getting calls left and right right now, but I make the best of it not to worry about it, b/c my time is coming to file...........