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The Colour

One For The Debt Junkies

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Maxed out (1h 47m), a great documentary about the real life impact of credit and debt, is on Google video:

http://video.google.com/videoplay?docid=1897719170688776201

Incedently I read the UK edition of the book based on this documentary. Great for factiods.

http://www.amazon.co.uk/Maxed-Out-Hard-Tim...4830&sr=8-1

Edited by The Colour

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Great find The Colour - This is a must see for everybody.

The 3 significant points for me were:-

1, If the credit card companies screen out the highest risk customers, it means they make hardly any profits. It's more profitable not to screen people and have lots of bankruptcies.

2, The repayment monies made were 2-1 interest and charges against original debt.

3, They don't bother to correct inaccuracies because they can make more interest where the customer is perceived to be a bad risk even when it's not true.

The attitude of the debt collectors made me want to punch my computer! When the riot comes these guys had better have some good protection!

I suppose it all fits in with the middle class extinction plan by turning everyone into debt slaves. Only 3 steps away from the end game now. The ending of cash, bancruptcy and social security. Then it's welcome to serfdom all over again.

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Great find The Colour - This is a must see for everybody.

The 3 significant points for me were:-

1, If the credit card companies screen out the highest risk customers, it means they make hardly any profits. It's more profitable not to screen people and have lots of bankruptcies.

2, The repayment monies made were 2-1 interest and charges against original debt.

3, They don't bother to correct inaccuracies because they can make more interest where the customer is perceived to be a bad risk even when it's not true.

The attitude of the debt collectors made me want to punch my computer! When the riot comes these guys had better have some good protection!

I suppose it all fits in with the middle class extinction plan by turning everyone into debt slaves. Only 3 steps away from the end game now. The ending of cash, bancruptcy and social security. Then it's welcome to serfdom all over again.

Funny isnt it how all these people are lined up and threatened with being shot if they dont spend and enjoy spending all this money and then after they have spent it how they all to a man blame someone else over the spending of it!

Mark.

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Funny isnt it how all these people are lined up and threatened with being shot if they dont spend and enjoy spending all this money and then after they have spent it how they all to a man blame someone else over the spending of it!

Mark.

Your comment doesn't make sense - can you explain?

If you watched the film all the way through, you would see a lot of these people took out the loans to buy food and other essentials not plasma TVs et al. I agree that people should face up to debt responsibilities, but would you want debt collectors phoning your friends, family and employer about your financial position?

Edited by markinspain

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Your comment doesn't make sense - can you explain?

If you watched the film all the way through, you would see a lot of these people took out the loans to buy food and other essentials not plasma TVs et al. I agree that people should face up to debt responsibilities, but would you want debt collectors phoning your friends, family and employer about your financial position?

I thought it made perfect sense :)

It's funny how you can state part of a position and then automatically it's assumed you agree with the whole position! So before the moral brigade start shooting from the hip I dont agree with the greedy nasty debt collector types or indeed like them either.

My point was that MOST people enjoy getting and spending on credit and MOST people are not forced to get or spend credit, persuaded yes made to no. Most of my mates think it some sort of cool macho thing that they have got large credit cards with a look at me, look at how much I can borrow attitude! They LOVE it.

MOST people in the UK as the credit tightens and the HPC looms will look to blame everyone and anyone for their predicament! These are the same people that have gloated to me over the years about how clever they are with their new cars and kitchens blah blah.

I was'nt talking about the bottom feeders who are so low down the chain they have to borrow money to feed themselves!

Mark.

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1, If the credit card companies screen out the highest risk customers, it means they make hardly any profits. It's more profitable not to screen people and have lots of bankruptcies.

And this is the significant part. For people who truly have to use credit as a way to mitigate a downturn in personal circumstances, the debt industry is almost 100% to blame for the often tragic outcomes.

This film outlines the actual real-life tactics used by landers to ensnare people.

Firms such as these are able to prosper because of a simple lack of regulation.

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My point was that MOST people enjoy getting and spending on credit and MOST people are not forced to get or spend credit, persuaded yes made to no. Most of my mates think it some sort of cool macho thing that they have got large credit cards with a look at me, look at how much I can borrow attitude! They LOVE it.

MOST people in the UK as the credit tightens and the HPC looms will look to blame everyone and anyone for their predicament! These are the same people that have gloated to me over the years about how clever they are with their new cars and kitchens blah blah.

I don't agree that most people have a cavalier attitude towards getting into debt. I think that MOST people love to splash out every now and then, but the problem is that crippling debt always starts with a zero balance and a little splurge. No-one get's up to their chins in debt overnight.

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I don't agree that most people have a cavalier attitude towards getting into debt. I think that MOST people love to splash out every now and then, but the problem is that crippling debt always starts with a zero balance and a little splurge. No-one get's up to their chins in debt overnight.

Granted but it still does not absolve them of responsability though does it!

Mark.

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That was really good. Obviously ignored the 95% of sub prime borowers for whom it works as a last resort, but a great highlight on the misery heaped upon the disadvantaged or those that suffer a change in circumstances. A great expose of cynical awefullness.

the link no longer works, but 'maxed out' in the search box worked ;)

I don't agree that most people have a cavalier attitude towards getting into debt. I think that MOST people love to splash out every now and then, but the problem is that crippling debt always starts with a zero balance and a little splurge. No-one get's up to their chins in debt overnight.

There are those that do and those that don't. It's fair to say that MOST debtors have a cavavalier attitude toward debt, and those that have chosen not to borrow don't.

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