“In Debt We Trust”, the movie
I just finished watching a fantastic documentary, called In Debt We Trust.
It’s about the debt problem in the United States today.
I found it absolutely fascinating. In fact, I strongly urge everyone reading this blog to stop what you’re doing right now and check out this film ASAP.
I saw it on LINK TV, which is on Directv channel 375 or Dish network channel 9410. I believe that it’s still playing in some theaters, and obviously you can rent the DVD as well.
To me, the most interesting part of the film was about how basically the big creditors in America are making absolutely obscene profits. It then showed what some “lenders”, namely check cashing places and car title loan operations are making on their loans: some the APRs worked out to annual rate of over 300%.
THAT IS NOT A TYPO.
It’s a shame that big business in America is really taking advantage of the uneducated folks in this country. The movie is mostly about unsecured credit (ie credit cards), but it does address mortgages, foreclosure, and the subprime lending industry. When you watch the film, you really get a feeling for how criminal some of these creditors are towards their clientel. The profits that they earn are almost evil.
Many of these mortgages were underwritten to set these homeowners up for failure. It’s time that people started educating themselves about the credit process. Let’s face it, when I went to school, no one educated me about personal finance: how paying bills late killed your credit score, or how important your credit score actually is.
I encourage everyone to see this film. I’m also looking into how we can help our clients by providing them with an outlet to view the movie.
For more information about improving your credit, or getting help to stop foreclosure, please visit our main web site at www.SaveMeFromForeclosure.com
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