I watched a movie called "Maxed out" the other day and how they target people for credit cards. They actually need those people who will never be able to pay their debt off as they are the ones that make the profit.

There were interviews with these people and some families who had lost family members to suicide because of credit card debt. They were still sending credit card application forms to the deceased, some cases - they were receiving several a month - this is because they were TARGETS!

Some of the stories were so sad; my heart just went out to the people who had got themselves into this eternal mess.

The show got me thinking of all kinds of things, the role that debt plays in my life and my family's and then I had my own little epiphany...

I have not received a credit card application form in years, why on earth is this?

• Is this because I pay my credit card off every month?
• I have no debts beyond my mortgage?
• I have not demonstrated myself to be unable to may my bills?
• I minimize the use of my credit cards to things I have to use it for?
• Is it because I am basically as uninteresting as a soggy sandwich as far as the credit companies are concerned?
• That I am not young and vulnerable?

My kids get credit card applications all time. Why is this?

• Could it be because they are young and vulnerable? That they have not developed any debt management skills?
• Could it be because my daughter already has accrued a student loan debt during university? And where would they obtain such information from?
• Could it be, that they are harvesting a new generation of “minimum payers” by targeting my children?

I really recommend everybody should watch this movie. They should make it law that teenagers have to watch it at school... though that will never happen, because without their future misery some of the rich can not get richer.

The show talks about Bush removing people’s ability to go bankrupt: http://www.msnbc.msn.com/id/7575010/
It also mentions that one of his biggest sponsors was a credit card company - and they helped write this new bill. Sounds an awful like two way back scratching to me!

Why remove peoples ability to go bankrupt? is it so that their debtors would be left forever, paying their minimum monthly payments?
Check this out http://www.commondreams.org/headlines05/0312-03.htm

What to do, are there really any good debt solutions?

Debt counseling is probably where to start, though ensuring you go to somewhere that is not biased towards getting you into a whole new level of debt is important.

A debt consolidation loan could be a way out, but it’s risky, because if you fail to meet these payments you risk losing everything.

Though an advantage is that you can then slice up your credit cards and promise never to go there again – and remake that promise everyday. Never be tempted again and do without all those things that you are forced to use a credit card for – such as on line purchases.

Either way, if we are getting in over our heads then we need help from professionals.

I think it is time we stopped being so casual about debt, that is what those adverts are doing, making credit cards seem like they make our lives easier, showing you people surrounded by nice cars, on fancy holidays, etc, but not seeing them as shattered people, in tears, paying off just the interest of their cards and never being able to reach the principle, having long forgotten what they spent the money on in the first place.

Please, watch the movie, it is very enlightening and may change your impressions of debt forever.

Clips can be seen here http://www.maxedoutmovie.com/clips/index.html

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