Maxed Out

You cannot pick up the paper these days without seeing another story of how the middle class is disappearing. Soon, we will fit in two categories - "rich" and "barely making it." One of the big problems has been the ease with with credit is given and the hole people fall into when they take advantage of easy credit.

This film shows that the credit companies actually want those who are just getting by to use their cards because they make a killing on late fees and higher interest. They don't want to prevent bankruptcies, because they can get you hooked again as soon as you file. The predatory practices of the mortgage lenders is also displayed.

What was not a surprise was the revelation that a member of the current administration was an executive in a credit card company that was fined huge amounts for stealing from customers, and the fact that the largest campaign contributor in the 2004 election was the banking institution that coincidentally co-authored a bill that made it harder for middle-class Americans to file for bankruptcy.

If you use credit, and we all do, then you really need to see this.

Maxed Out is an eye opening documentary that is long, long overdue. Over the last few decades the credit industry has only become bolder and more aggressive. Maxed Out begs the question: Have they gone too far? Seeing this movie will make you think twice about filling out another credit card application.

As one of the characters early on in the film, I was aware of a lot of the dirty tricks and tactics used by creditors, bill collectors, 'professional debt collectors' and the like. I truly thought I knew about the level of greed this film would expose in the credit industry. I was a debt collector for nearly a decade but left the industry because of the many 'slime balls' indigenous to the profession. It takes a certain kind of person to remain in this industry for the long haul.

What I did not know, was the depths at which some creditors would be willing to sink. Even I was appalled at the actions of some of the biggest names in the lending business, and I thought I had seen every dirty trick in the book. Without going into detail as to how Maxed Out reveals the atrocities committed by the credit industry as a whole, I can only say that you will likely leave the theater totally amazed yet possibly disgusted in the aftermath of Maxed Out's revelations. You'll likely be very surprised to see who has their hands deeply submerged in the proverbial cookie jar.

Although the inevitable comparisons between Maxed Out and Super Size Me will be drawn, one must realize that not everybody eats at McDonald's but everyone has debt. Even if it's just your share of the national debt. Everyone is affected by debt.

A lot has changed since my bankruptcy ten years ago. Thanks to a new change in the bankruptcy laws it's virtually impossible to obtain the level of bankruptcy protection today that I relied on in 1996. The public needs to know what's happening before these modern day loan sharks end up trying to take over the world and turning us all into eternal debt slaves. James Scurlock should be applauded for doing this film. This story would have been very easy 'not to do.'

The most unexpected thing about Maxed Out is its breathtaking resolution on the big screen. A lot of the footage shot for Maxed Out looks spectacular thanks to the genius of Jon Aaron Aaseng. It's almost inconceivable that a documentary about America's credit card debt can be this entertaining, this provocative and this easy to watch all at the same time. See it.

Excellent flick. I often felt that people were at fault for their own credit mess and to some extent, I still do.

This movie opened my eyes to how many of these credit giants prey on the uninformed and manage to make money through bankruptcies.

Someone charges $1000, makes a payment then goes delinquent. The late penalties cause that to become $3000, then after 180 days the bank writes that debt off and sells it at 50% to a debt collector for $1500. The bank still collects their principal, plus whatever payments the original person made, plus $500, plus takes a write off. It seems like a no brainer to hand money out like paper.

When a predator offers candy to a child, do we blame the child for taking the sweet bait? No, because the child didn't know better. So are these people at fault?

I saw this movie at the SXSW film festival and can't recommend it enough. It is AWESOME - right up there with a lot of the great documentaries that have come out the past few years. Basically it's about the predatory practices of the credit card companies, and how the government just seems to look the other way. Doesn't sound all that entertaining, right? I guarantee it will tick you off...and then make you a little nervous (see it and then tell me you won't think twice before applying for another credit card). Some of the things it covers are the ways that credit card companies have refined their practices to prey on college students (without jobs), the mentally disabled, people in bankruptcy, etc. and are never held accountable by the government for their actions (if fact, the CEO of a bank that was fined $400 million dollars for SHREDDING customers checks to charge false late fees was actually made a member of the current administration's cabinet). It also spotlights the fact that the largest campaign contributer in the 2004 election was the banking institution that coincidentally co-authored a bill that made it harder for middle-class Americans to file for bankruptcy. I hope this movie is put into wide release. I think it's something everybody in this country should see.

This documentary gives an excellent explanation as to why so many people are in debt. It starts out with us riding along with a real estate agent in Las Vegas. People are obsessed with material things, and we all want to have more than we have.

But what the film does is explain how the banks and financial institutions have preyed upon the masses, especially the lower income families and young people who don't have a good understanding of how to manage money.

You'll see how families have been ruined by credit card debt and how insidious this game has gotten. If anything, this movie will make you question why we don't teach every child in America how to manage their money before they graduate high school so that they don't get caught in the credit card trap.

I think this movie is a must see for everyone, so they can understand why 10 percent of our society holds 2/3 of all the wealth in America and why the rest of us in the 90 percent can't seem to get ahead!