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I’m Going to Try to Watch “Maxed Out” Today
By JLP | June 20, 2007
I’m going to make an effort to watch the credit card documentary, “Maxed Out,” today. After I watch it, I’ll be sure and express my opinion about it. I can tell you right now that if they paint American consumers as victims rather than responsible parties in this mess, I will not like the movie. Most of what I have read about the “documentary” has led me to believe that they will indeed play favorites. For instance, here’s what Ben over at The Consumerist had to say:
However, we found ourselves growing annoyed at the lack of appreciation for individual fiscal responsibility. At only one point that we can recall does one lady say something to the effect of, “yeah, I shoulda read the fine print.”
Now I’m wondering how fair I can be in my review now that I have read that? I guess we’ll see.
Topics: Miscellaneous | 6 Comments »
June 20th, 2007 at 8:56 am
Personal responsibility is one thing, but the credit card companies definitely try to screw the consumer. The fine print is all about the credit card company and very little about the customer. It takes a pretty strong, and pretty smart, person to be financially responsible when everything around you is all about “spend every dime and more!” Yes we should all be responsible and kids should buck peer pressure and everyone should say no to their boss when they are asked to do something a little immoral, etc, etc.
June 20th, 2007 at 9:56 am
You really don’t know why the people in the story are in debt or heading into foreclosure, because the movie never tells you. We can assume they overspent, etc, but those are just guesses.
June 20th, 2007 at 10:14 am
I watched the movie and I reviewed it on my blog. If you are looking for personal responsibility, you will be disappointed. I don’t think every cardholder should be required to understand every fine print. But the general concept of “credit card debt costs money” shouldn’t be too far fetched, just like “smoking is harmful to one’s health.” Yet people choose to accumulate credit card debt just like people choose to smoke.
June 20th, 2007 at 10:31 am
I rented it the other day and I liked the commentary Elizabeth Warren gave. The movie shows both sides the consumer and the bill collector –I was impressed by the movie.
June 20th, 2007 at 12:23 pm
I picked up the book at the library and have gotten a couple of chapters in. So far there hasn’t been much on the consumer it’s been more about the history of the credit card. I plan on watching the movie (thought that’s what I was getting at the library, didn’t realize there was a book) at some point.
June 20th, 2007 at 1:52 pm
I actually just watched this last (rental from Netflix).
Basically paints the credit card industry and the politicians in their pockets as the evil-doers.
Scared me enough that this morning I requested my free annual credit reports from the 3 titans (experian, transunion, equifax). Fortunately, everything looks good, although equifax would allow a download for either my or my wife (due to some bogus reason, which I DON’T believe after viewing Maxed Out!)
One thing they also pointed out: it’s harder to make ends meet for just the basics (house, car, food, utilities) today that it was in the 70s for a family of four, and that’s with very prudent spending habits.