Maxed Out

[BkinTX]

If anyone has Netflix -- it's available on DVD or watch it now. Easy peasy.

I also have read recommendations for The Secret History of the Credit Card -- free on PBS' website. Haven't watched that one yet.

[banca rotta]

All this talk here on moving accounts over (which is a good thing) makes me wonder why anyone alive would even use any of the major banks that "brought the house down".

I am a customer of my regional bank for some time and hadn't used one of the top 20 banks in over a decade.

With all the outrage we all have had since october the best solution is don't do business with them. Who cares if they go under. The better run institutions such as the regionals will survive and hire some of the laid off talent that the big guys would lose.

[WillinVT]

I watched about an hour of this movie when I got home from work this morning. I wanted to finish it, but I needed to get some sleep.

All I can say is "WOW".

There are so many different aspects to the credit card industry in this movie, it made my head spin.

The part that really pissed me off was the part when they were talking to the collection agency and how they get a thrill out of bullying people into paying back there debt. I think one of the owners said, it is like making a debtor walking the plank and seeing how far you can push them right before they fall off. Then, they were talking to one of the phone operators and how they have access to your credit reports and how she likes to call peoples relatives to get them involved. I think they way she put it, she said there is nothing more embarrising then having your neighbor or relative call you asking about a debt you own because the CA called them.

The comedian in the movie was pretty funny. The part where he said that his bank called and said he only had $20.00 in the bank and how they charged him $15.00 because his account balance was so low. Then he goes on to say, apparently in todays society, it costs $15.00 to have $20.00.

This movie is definitely an eye opener and there is a lot that is covered. I can't wait to watch the rest of it Friday morning.

[2xBK]

You can watch Maxed Out on veoh.com for free. Need to sign up for membership but it's free and easy to do so. Definitely worth watching. These companies are no better than the mob. Also as BkinTX posted, The The Secret History of the Credit Card is good. Watched that one a couple of years ago.

[Ifonly]

I think everyone should see it so they understand their complete lack of privacy and how much power the banks/creditors wield in this country. You always hear people ranting about "big brother" ie: the government invading their privacy but as it was stated in the piece, the constitution somewhat protects you from invasion of privacy from the government but there is nothing to protect you from the banks and other individuals.

This whole process has been a real eye-opener for me socially. When I go to cash my unemployment check at BofA (State of NJ's bank), as a non-account holder, I can't even go to the teller. I have to go to one of the offices, provide my photo ID and a MAJOR CREDIT CARD (thank god for VISA debit or then what?), they make me sit there while they look up lord knows what. Then I'm FINGERPRINTED and I have to put my fingerprint on each check. Then they look up more stuff and then they sign off and I can go cash my check at the teller. When's the cavity search?

I also just vacated my home and I was waiting to change my address with everyone until after my CH13 is filed. Dropping the signed paperwork off this afternoon (another story). Lo and behold, I see this morning that Experian has my new address. I gave it to NO ONE except maybe my mother and she didn't give it to Experian. I guess the cable installation is hooked into the creditor matrix. It's a weird feeling knowing that your every move is tracked. People worry about facebook and crap like that. Too bad they don't realize that every time you run your debit card at the grocery store, someone is watching.

It's disconcerting.

[frustrated7]

My husband and I watched Maxed Out several years ago, when we had a high debt load but were able to make our minimum monthly payments. We found it an eye opener then, even though we already knew how people were being harmed by the system (especially since we were among them). I recently watched it again on Netflix, right before officially filing for BK and after a year of dealing with nightmare creditors and problems galore (not to mention still having that high debt load from all those years earlier). It hit me a lot harder the second time watching it, though it certainly made an impact the first time too.

I also watched the Dateline program recently about the collection tactics being used. It ticked me off and I had my husband watch it when he got home from work that night. It's sickening that the creditors get away with this crap.

[queenfluff]

My husband and I watched Maxed Out several years ago, when we had a high debt load but were able to make our minimum monthly payments. We found it an eye opener then, even though we already knew how people were being harmed by the system (especially since we were among them). I recently watched it again on Netflix, right before officially filing for BK and after a year of dealing with nightmare creditors and problems galore (not to mention still having that high debt load from all those years earlier). It hit me a lot harder the second time watching it, though it certainly made an impact the first time too.

I also watched the Dateline program recently about the collection tactics being used. It ticked me off and I had my husband watch it when he got home from work that night. It's sickening that the creditors get away with this crap.

What is the Dateline program called? I would like to watch that.

[frustrated7]

I'm not sure what the Dateline special was called, though there were threads on this forum talking about it. I'm sure someone else can give that info.

[lrprn]

We have several active political threads running in the General forum area. Please post all political opinions and any other related political commentary there - thanks!