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HTML <html> <head> <title>Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders</title> </head> <body> <h1>Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders</h1> <div class="info">Author: <a href="author_1_84388.html">Andrew Regan</a></div><div class="body"><p><br /> 'Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders' is a documentary and accompanying book released by American director and author James Scurlock and is a stark reminder of the ubiquity of credit cards. <br /> <br /> Released to critical acclaim in 2006, the film consists of a string of vignettes about people who have taken on too much debt, as well as interviews with Harvard professors, debt collectors and other authorities to show how too many people have developed a buy-now, pay-later mentality, while credit card companies are only too happy to provide them with credit cards.<br /> <br /> For example, Scurlock interviews the mothers of two teenagers who through their first year of college accumulated enough debt for them to eventually commit suicide. Another section shows how a developmentally challenged woman confined to a nursing home regularly receives credit cards in the mail, despite being unable to get out of bed without assistance. On the other side of the credit industry, Spurlock shows how debt collectors get in touch with debtors, often resorting to scare tactics in order to collect money. As one of the debt collectors puts it: "The trick is to know how far you can push them. You've got to push them just far enough to the edge where they get really freaked, and then pull them back to get what you want."<br /> <br /> While this may at times seem like a skewed representation of reality, Scurlock says his purpose for the film and book was to raise awareness of how credit and lending issues are affecting society; showing how banks and other creditors are deliberately targeting people who are more likely to have problems paying them back, and how creditors benefit from connections to the US government, the debt collection industry, and lawmaker apathy. <br /> <br /> As Scurlock himself told USA Today: "The best definition [of a preferred customer] I have heard yet — and this is from a vice president of MasterCard — is an individual who has a 'taste for credit,' i.e., someone 'willing to make minimum monthly payments — forever.' Now I know why, if I fail to pay off my balance in full, my credit limit is increased."<br /> <br /> The film received significant critical acclaim, claiming the Special Jury Prize at the 2006 South by Southwest Film Festival in Austin, Texas, and received an 88% rating at the all-important Rotten Tomatoes website, making it certifiably “Fresh”. It was successfully released in cinemas and on DVD in early 2007, along with the accompanying book, printed by Scribner, a division of Simon and Schuster. <br /> <br /> Ultimately, the responsibility for taking on debt lies with the debtor, but it would be wise, especially for younger people, to give 'Maxed Out' a view, if only to fully realise that indiscriminate use of <a href="http://www.moneynet.co.uk/credit-card/index.shtml" >credit cards</a> is not a good thing.<br /> </p></div> <div class="source">Article Source: <a href="http://www.articlealley.com/article_460152_19.html">http://www.articlealley.com/article_460152_19.html</a></div> <div class="author"> <div class="authorBio"></div> <div class="authorUrl"><a href="http://www.flickr.com/photos/andrew_regan/" target="_blank">http://www.flickr.com/photos/andrew_regan/</a></div></author> </body> </html>
Text Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders Author: Andrew Regan 'Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders' is a documentary and accompanying book released by American director and author James Scurlock and is a stark reminder of the ubiquity of credit cards. Released to critical acclaim in 2006, the film consists of a string of vignettes about people who have taken on too much debt, as well as interviews with Harvard professors, debt collectors and other authorities to show how too many people have developed a buy-now, pay-later mentality, while credit card companies are only too happy to provide them with credit cards. For example, Scurlock interviews the mothers of two teenagers who through their first year of college accumulated enough debt for them to eventually commit suicide. Another section shows how a developmentally challenged woman confined to a nursing home regularly receives credit cards in the mail, despite being unable to get out of bed without assistance. On the other side of the credit industry, Spurlock shows how debt collectors get in touch with debtors, often resorting to scare tactics in order to collect money. As one of the debt collectors puts it: "The trick is to know how far you can push them. You've got to push them just far enough to the edge where they get really freaked, and then pull them back to get what you want." While this may at times seem like a skewed representation of reality, Scurlock says his purpose for the film and book was to raise awareness of how credit and lending issues are affecting society; showing how banks and other creditors are deliberately targeting people who are more likely to have problems paying them back, and how creditors benefit from connections to the US government, the debt collection industry, and lawmaker apathy. As Scurlock himself told USA Today: "The best definition [of a preferred customer] I have heard yet — and this is from a vice president of MasterCard — is an individual who has a 'taste for credit,' i.e., someone 'willing to make minimum monthly payments — forever.' Now I know why, if I fail to pay off my balance in full, my credit limit is increased." The film received significant critical acclaim, claiming the Special Jury Prize at the 2006 South by Southwest Film Festival in Austin, Texas, and received an 88% rating at the all-important Rotten Tomatoes website, making it certifiably “Fresh”. It was successfully released in cinemas and on DVD in early 2007, along with the accompanying book, printed by Scribner, a division of Simon and Schuster. Ultimately, the responsibility for taking on debt lies with the debtor, but it would be wise, especially for younger people, to give 'Maxed Out' a view, if only to fully realise that indiscriminate use of credit cards is not a good thing. Article Source: http://www.articlealley.com/article_460152_19.html About the Author: http://www.flickr.com/photos/andrew_regan/
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