Today, I watched Maxed Out Hard times, Easy Credit and the Era of Predatory Lenders. This was little less sweet than Stardust. It basically said that America is in debt and we are going to fall as a civilization. It didn't state that directly, but I can read between the lines.
Kidding aside, bad credit, debt, and bankruptcy is serious business. I have heard of at least three people in the last year or so who have committed suicide because of one or more of these issues. These are friends of friends who had college degrees and lived a middle class lifestyle. And it's happening all around us. The movie presented all sides of the debate. Those who signed loans they couldn't pay. Those who collect. And the credit cards themselves. They all put their spin on it and it's hard to decipher who is to blame. I try not to place blame on anyone and recognize there is a problem. I support taking personal responsibility, but I don't support creditors taking advantage of the disabled or those in duress. (And being dishonest.)
One interviewee ran into a problem when she was trying to get a car loan at the dealership. The dealer ran a report and the report said that she was dead. (In fact, her daughter had died six years before.) You would think that this would be an easy fix, but she went through 2 depositions of proving that she didn't falsely report this and that the credit bureau made the error.
If you, or someone you know, is in serious debt, and is looking for help, you can check out Americans for Fairness in Lending.
3 comments:
Better sign up for Netflix. I hear Magic Video is biting the dust. :(
I know! Magic is sooo convenient because they are located across the street from where I work. Now, I could got to Top Video down on Union. We'll see. Netflix might work too.
Is this the Kent Winter who worked at The Sun Dial Hotel in Kennebunk Beach a long time ago? If so, kindly respond. I'd like to be in touch.
Cal Thomas
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