We watched this last night, it's about America's debt - most credit card debt, but also the Government spending, and how people get into debt.
We weren't sure if they got the dumbest people around, or if people really can be so stupid...
I mean there was bits that were sad and predatory - convincing people on low incomes to remortgage their house promising cheaper payments, only for payments to skyrocket, all the marketing credit card companies do at colleges to kids who are out on their own for the first time in their lives, and haven't learnt money management...
But then you just had the idiots, that they tried to make you feel sorry for. There was one 57 year old lady who lived in a decent sized house, and her husband died, so lost her main source of income. After a while she realised she couldn't afford the mortgage repayments, savings were gone etc, so she started getting cash advances to pay for the mortgage!! She can't pay the mortgage, how will she repay the cash advances?? Once she realised that as a widowed woman on a fixed income that a large house was expensive and unaffordable why did she not sell it then?? She said she was waiting by the mailbox every day for the foreclosure letter for the house. She was having to sell her beloved possessions to keep going. Why not sell the house???
And then there was a guy who was in the Police, who decided to join the Military Police, and was sent for Iraq for 23 months straight with a wife and new child at home. He was upset at the Government for not matching his Police pay, and because his new pay was lower, the family had to file for bankruptcy because they couldn't afford the bills. He said all the private contractors over there were being paid so much more and it wasn't fair. Sorry dude, you chose to take the job - if you didn't look at the pay and realise you couldn't live off it, it's your silly fault! Not only that, but the family was sitting in a nice house, wearing nice clothes, her hair was beautifully done... They can't be too bad off if they can afford all that nice stuff!
Those 2 in particular were just stupid...
We weren't sure if they got the dumbest people around, or if people really can be so stupid...
I mean there was bits that were sad and predatory - convincing people on low incomes to remortgage their house promising cheaper payments, only for payments to skyrocket, all the marketing credit card companies do at colleges to kids who are out on their own for the first time in their lives, and haven't learnt money management...
But then you just had the idiots, that they tried to make you feel sorry for. There was one 57 year old lady who lived in a decent sized house, and her husband died, so lost her main source of income. After a while she realised she couldn't afford the mortgage repayments, savings were gone etc, so she started getting cash advances to pay for the mortgage!! She can't pay the mortgage, how will she repay the cash advances?? Once she realised that as a widowed woman on a fixed income that a large house was expensive and unaffordable why did she not sell it then?? She said she was waiting by the mailbox every day for the foreclosure letter for the house. She was having to sell her beloved possessions to keep going. Why not sell the house???
And then there was a guy who was in the Police, who decided to join the Military Police, and was sent for Iraq for 23 months straight with a wife and new child at home. He was upset at the Government for not matching his Police pay, and because his new pay was lower, the family had to file for bankruptcy because they couldn't afford the bills. He said all the private contractors over there were being paid so much more and it wasn't fair. Sorry dude, you chose to take the job - if you didn't look at the pay and realise you couldn't live off it, it's your silly fault! Not only that, but the family was sitting in a nice house, wearing nice clothes, her hair was beautifully done... They can't be too bad off if they can afford all that nice stuff!
Those 2 in particular were just stupid...