Maxed Out on debt consumer credit of the United States and Housing

When the housing bubble collapses and the economy starts to contract debt fully staff the average American is even more difficult to bear. Mortgages on homes that are no better than what they can and credit cards because of "variable" rate of 9% to 31% if payment has not been able to guide consumers in record numbers in the closure and bankruptcy. But it is even more difficult now, since 2005, changes in files for bankruptcy (from MBNA in writing)and are simple, the problem of foreclosed homeowners who are not able to meet part of their debts.

In this context, the documentary Maxed Out, which seems originally published in 2006 by James Scurlock, seems strangely prophetic. The availability of housing almost all debts owned depends on credit cards to their dream homes and maintain the lifestyle is not sustainable consumption. In good times, this can mean borrowing money to build a house that the bankvalued at current market value (mark-to-market with which it was used by Enron). Elevators, wine cellars, many laundries, kitchens and all the big must for the debtor to the decadent society that lived during the housing boom.

The documentary focuses more on the dark side of credit history, but collectors who have "rights" to those who so humiliated and harassed by creditors, who feel suicidaltheir only option. These are, of course, stories of human interest in work, and each owner is trying to stop a foreclosure or stay to repay creditors may be saved from bankruptcy, some of the most frustrating and Related daunting.

Not surprising that borrowers who are unable to repay their loans on time, the most profitable customers for the bank. These are the people who pay high interest rates and late fees, obscene,for which payments are not paid by the Authority for the most important, they make two thirds of the benefits of this bank credit card debt.

But even if the owners are in financial difficulties and the pledge of personal property no longer works, is selling the default of debt collection agencies vultures continuing harassment / humiliation. While the sensors themselves say they are "people" want to spend a good day, what really triedhis best to convince people who find it difficult to direct as much money as possible to repay the loans that the bank knew it could never collect, and would not have borrowed in the first place. "Feeding off the production company" would be appropriate for these activities, rather than 'people first'.

But this benevolent pirate collection agencies to deal with their objectives, "Walk the Plank will" to the extent possible, be ready to return. WithThese psychological techniques that human beings first, like calling the inhabitants of the debtor, it seems, that these people have the opportunity to return to his feet and return what they owe to the banks. Of course, he admits that agents will never be that consumers really need the agency to collect a cent, or that the money used to make these loans was created out of nothing, when it was taken, if n 'is not really a lending of money at all.

But the power that the concept of moneyowners of disinformation against cases of financial hardship can be devastating. The documentary interviews the families of people () and students who have lost a loved one to suicide and humiliated by a debtor beyond their means. Were also interviewed, are the borrowers who are now in a downward spiral for the actions, judgments, privileges and convulsions, and discuss their thoughts of suicide as the only way out of debt.

The two answers to all the traditionalStressful situation that causes what is commonly called the "fight or flight", ie is inclined to flee a situation or have a reason to meet. He faces several billion dollars from international banks and the fight against the crushing weight of debt is still too often by consumers. Much more likely to fall into a deep depression and hid the problem, even if it leads to the loss of a home closing, the bankruptcy filing, or even abandon the life ofGeneral.

Banks, unfortunately, does not care at all, because it is precisely the environment where you make more money. Offering assistance to be aware of superficial complaints about their practices and to pay hundreds of millions of dollars to the loan in squatter settlements and to practice some of the very limited impact of these banks is politically powerful face. But the whole banking system is the most successful ever createdPrivatization of profits and socialize losses, premiums for high adult wages in good and receive money saving, when profits fell.

When homeowners are foreclosure and bankruptcy in record numbers opposing actions, judgments, garnishment of wages and property values continue to lose, which could raise prices. But what do the owners have to prove that? You should now more than their homes are never the problem, and caused the creation of large amounts of moneyborrow only to pay the cost of living. The banks have cashed the money and time, and the average American, salvage operations for the mass flight from the owners of the funds and property of the debtor.