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Senior Contributor
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Registered: ‎05-05-2011
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Has anyone seen "Maxed Out" movie?

It's really shocking! Some things may have changed with the law last year, but still I'd be willing to bet a lot of this still happens.

http://www.maxedoutmovie.com/

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
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Registered: ‎03-11-2009
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Re: Has anyone seen "Maxed Out" movie?

[ Edited ]

Wish I had seen your post on this movie before I posted about it too.  Sorry for the double post. I would delete mine if I knew how.  Anyhow, as you know, this is quite an eye-opener.

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Re: Has anyone seen "Maxed Out" movie?

I remember watching Maxed Out. It made my blood boil.Smiley Mad

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Valued Contributor
Posts: 1,051
Registered: ‎05-20-2010
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Re: Has anyone seen "Maxed Out" movie?

[ Edited ]

I just finished watching it. It is really an eye-opener on credit and debt. Really changed my view on it. Thanks for posting up the link and sharing.

 

Edit: Also thanks to Imhotrodcrazy for posting about in the credit card forum, I wouldnt have saw it, if he/she didnt post it in there earlier today.

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Valued Contributor
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Registered: ‎11-11-2010
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Re: Has anyone seen "Maxed Out" movie?

Just finish watching the movie online. Really changed my perception about credit.

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Senior Contributor
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Re: Has anyone seen "Maxed Out" movie?

It's really amazing that these things happen in this country. It is shocking, infuriating and heartbreaking. If they talked about 3 people in the movie who committed suicide, just imagine how many others have, too. The attitude of those CAs made me want to scream. Smiley Mad

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Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
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Registered: ‎11-11-2010
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Re: Has anyone seen "Maxed Out" movie?


bichonmom wrote:

It's really amazing that these things happen in this country. It is shocking, infuriating and heartbreaking. If they talked about 3 people in the movie who committed suicide, just imagine how many others have, too. The attitude of those CAs made me want to scream. Smiley Mad


However, I think this film is a bit bias.

 

I think the problem with lending stems from two areas, lenders who engage in predatory lending and consumer who are not using credit wisely. I blame lenders for jacking up rates, charging obscene fees, engage in subprime lending, etc. I also blame consumer for using credit when they clearly have no means to repay it. Obviously I wasn't talking about those that got hit with unemployment, medical bill, divorce, or things they have no control of. I am talking about college students who use credit like it wasn't their own money, using credit to gamble, etc. While I blame lenders for praying on these people, to say lenders are at fault for 100% is a false statement.

 

I personally think there should be a mandatory finance class in high school. Just like how high school exit exam is mandatory for graduation, teaching how banking and lending work are important for survival in society.

 

I find this movie bias because it bashes lender side nonstop without taking a closer look at consumer side.

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Established Contributor
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Registered: ‎07-30-2011
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Re: Has anyone seen "Maxed Out" movie?


trumpet-205 wrote:

I personally think there should be a mandatory finance class in high school. Just like how high school exit exam is mandatory for graduation, teaching how banking and lending work are important for survival in society.

 



I wish they had taught personal finance in math class in high school instead of advanced trigonometry.  I have never used trig since leaving high school and because I didn't have personal finance classes, I had to learn how to handle money on my own.  Unless you are lucky enough to be born into a family with excellent money management skills with parents who are willing and able to teach you what they know, you are pretty much on your own in this country.  I'm lucky that I discovered Suze Orman a few years ago or I may never have learned to handle money and credit properly.


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Valued Contributor
Posts: 1,713
Registered: ‎01-05-2010
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Re: Has anyone seen "Maxed Out" movie?

[ Edited ]

Yes, the documentary does not address personal responsibility, individual choice, free will, except perhaps that at some point it's mentioned that some believe the constitution protects a person's privacy. As the documentary points out, it doesn't.

Along these lines I recently came across two articles about how people think of the governing of the national household, historically and presently, sometimes perceived as an entirely other world from the social benefits they receive.

"Spending like this is simply unsustainable, and it's time to cut up Washington, D.C.'s credit card, ... But the reality of life here is that ... many ... continue to take as much help from the government as they can get."

Even Critics of Safety Net Increasingly Depend on It

"60 percent of those who benefit from the home-mortgage interest deduction didn't think they had ever used a government social program. Fifty-three percent of those with student loans didn't think they had used one. Among Social Security beneficiaries, 44 percent thought themselves unsullied by the touch of government, and among Medicare beneficiaries, 39 percent said the same."

The invisible welfare state of the top one percent

Can it be that such disconnect would have people inadvertently support the same public servants that the credit companies do as noted in the documentary?

Never underestimate the power of denial
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