Credit Card Debt Movie

Just watched the trailer to maxed out. A doccumentary about debt and the evils of the credit industry. What is the truth? Is credit card debt really unsecured or is there a back door where you are screwed if you get into debt? I do know former corporate execs who hit a bad patch..Unemployment, Divorse, Illness and needed to live on credit cards..Now some of them have 200K + in debt and no viable income. What can happen to them?

Credit cards are "UNSECURED" loans because the creditor (the credit card company) does not have anything of value that you own as a collateral.

If you don't pay, eventually, your debt will go to collection, taken to court, receive a judgment for payment, or into bankruptcy, all depends on amount, circumstances, and your ability to pay. (not willingness - ABILITY)

Remember, you can avoid all this by not spending more than you can pay. If you are not paying off your balance every month, consider it a danger sign. If you need a loan to make large purchases, there are MUCH better loans out there.

2007-04-07 08:43:53 by corporatetrade

My hero, Dave Ramsey, tells of abusive practices and the violation of Federal law incorporated by debt collectors - particularly credit card debt ...

Hi I was wondering if you need a credit/debt card to take movies/games out at blockbuster. You do need membership too right? Does that cost anything?

No cost but you need a debit/credit card. Be advised, they are lax on movies being late, but if you are late for like 9 days for example, they will charge your account the retail price for movies (so if you rent like 4 movies, they will charge your account $80 bucks). They will refund you the money MINUS the "restocking fee" (like $15-20 bucks) when you return the movies/games.

Netflix, Redbox, and Gamefly are better in my opinion.

2009-05-14 19:23:31 by Steff

Price: $19.98

Hi. My husband and I are in way over our heads & I would really love some helpful ideas. We have $30,000 in credit card debt, $15,000 in car loans, & a home loan for $145,000 (worth $180,000). I work 3 part time jobs & my husband works 1 full time & 1 part time. We bring in about $60,000/year & we have two kids. I work from home for one job and the other two are when my husband is home. That way we don't pay daycare. My daughter is special needs and needs to be enrolled in a preschool to help her development, this is $250/month & cannot be eliminated. We do actually make it every month, by the skin of our teeth but we have no savings & every time something goes wrong (the stove breaks, the fridge starts smoking, etc) it causes major problems. We don't qualify for home equity loan b/c our debt ratio is to high. We don't want to be rich we just want to be able to do fun things like go to a movie together instead of not being able to b/c we need to pay the gas bill. Any advice?

Home, car loans and your daughter's special needs are fixed and therefore you need to set aside the money each month in order to pay. Your credit card loan is too high and I can imagine that you are just paying the minimum with high interest rate. If you are doing this, then you will never be able to pay-off your debts. Try if you can to budget your income that after paying your monthly mortgage & car loan and paying for the essential of daily living including property tax, heat, gas, hydro, cable-tv, telephone, cell phone bills, you still got some money left to pay your credit card debt. To be able to do this, you need discipline, will power and belt-tightening. When you see something you want to buy, first ask this question, " Can I or my family do without it"? Then if the answer yes, just walk away and never to think back. There is a huge difference between needs & wants. With extra money, try to pay your credit card debt first. Use cash to buy your needs and stop using credit card until it is fully paid off. There is no other way but to save as much as you can each month and put that extra cash into your credit card debt. If possible try to negotiate with you credit card company to explore ways where they can help you settle the loan with lesser burden or manageable for you & your husband each month based on you combine income. What is the purpose of having to work so hard in your life just to be able to pay your loans? That's not life. Think about it. I sincerely hope that you can overcome this problem.

2007-03-27 11:02:49 by LinnyS

Price: $14.98

I went to rent a movie the other day at Blockbusters and they would not let me check out a movie without giving them a credit card. They said it was so they could recover losses. I have not had a credit card for the last 10 years because I do not want one. I have been in debt. Is this not ridiculous?

Your local library is a free source of movies and they won't require a credit card for security.

2008-12-06 18:15:12 by Kelly A

do you actually go to the bank every month to pay for the credit card or the bank does it automatically? its something I was wondering. I live in europe, so things might be different. in movies I always hear about credit card debts. how is this even possible? another thing, what is a credit score? I dont have that.

You send a check every month to pay for the credit card. Or with online bill payment, but they wont just take the money out of your bank without you authorizing it. A credit card debt is an easy thing to get into. You get a card that lets you spend x amount of money, and then pay a fraction of that back each month. Say you have 5 credit cards all with a $1,000 credit limit, and owe the maximum on them, and only pay the minimum each month, after the interest is calculated monthly, you could end up owing on that card until you finally just sit down and pay the lump amount, or at least a sizable chunk above what is asked of you for a minimum payment.
A credit score is basically a number rating of how much credit history you have, it gets higher if you have shown that you pay your debts in a timely manner, and lower if you dont. Higher if you owe less money, lower if you owe more.Utilities, such as gas and electric and water are also included on that, as well as home and car loans. Hope that helped you to understand.

2008-09-10 21:45:17 by sail with me