Have you seen the movie ‘Maxed Out‘? It has a very appropriate title for looking into the debt lifestyle of the average American. The punchline comes down to the rich keep getting richer, while the poor are getting poorer. It emphasizes the idea that everything is fine as long as you pay your minimum monthly installments on time.
Beth Naef, as one of the most successful real estate brokers in Las Vegas, the country’s hottest real estate market, are selling houses with elevators, massive kitchens and wine cellars as the important ‘need to have’ essentials. She’s also building herself a ten thousand square foot McMansion, which she might not be able to afford if interest rates go up. She believes ‘if you look like you make money, I guess eventually you will.’
Maxed Out explains why banks wants us to be late, revealing that the bare necessities are driving American families further into debt. In fact, the financial industry’s best customers are the broke and bankrupt. Predatory lending scams, driven by the nation’s largest and most respected financial institutions, target those with less than perfect credit, making it the most profitable niche of the industry.
The film also features debt collectors, portrayed by ‘People First Recoveries’, who buys bad debt all over the country, in the hope of making huge profits. Seeing themselves as ‘debt pirates’, they call consumers’ neighbors and relatives to humiliate them into paying.
Maxed Out highlights that 90 percent of credit reports have errors on them, yet credit bureaus never correct them. If more negative information persist, the interest rates become higher, thereby increasing the credit industry’s profits. Maxed Out forces you to focus on the consequences of America’s debt addiction: the ruined lives, suicides, and the disappearance forever of the American middle class. See it today to change your perspective on buying everything on credit.