Maxed Out, a documentary depicting Americans in debt, was released on March 9th.  It takes its audience on a journey showing the worries of Americans when the minimum time to repay their debts sets in.  The filmmaker James Scurlock also wrote a book, Maxed Out: Hard Times, Easy Credit, and the Era of Predatory Lenders, which is an escort to the documentary.

The documentary was screened at the Harvard Law School’s Ames Courtroom. 

After the screening of Maxed Out, James Scurlock, the director of Maxed Out and Professor Elizabeth Warren, leading bankruptcy expert, were present for a group discussion.

The current financial industry’s favorite customers are the Bankrupt and the Broke, shows Maxed Out.  A mixed Bag, Maxed Out is deeply alarming and entertaining at the same time.  Throughout the movie, James Scurlock interviews pawnbrokers, debt collectors, people in debt, and experts like Liz Warren.  Through these interviews, he shows how the credit industry unfairly targets consumers, thereby wreaking havoc upon the lives of Americans.
 
In the movie, award-winning journalist Mike Hudson interviews the leading financial institutions in America.  These popular institutions are now targeting the young generation; FirstUSA signed up two high school students as billboards.  Through these kids, they try to create the impression that it’s hip and trendy to own a card.  Another shocking incident shown in Maxed Out: FirstUSA partnered with colleges to dig up students’ personal information and mess up their lives.  In such situations it becomes necessary for America to take a stand against companies encouraging the young lot to buy plastic. 



The documentary depicts how Americans openly discuss the latest fashion trends, cocktail parties, and ecstasy.  But discussing Debt is Hush Hush.

James Scurlock writes in the Production History:
“We're all led to believe that people get into financial trouble because they are irresponsible, but I've learned that most people are getting in trouble because the banks and credit card companies are setting their customers up to fail.”

Liz Warren, also featured in the movie, conducted research on broke Americans.  Liz’s study proves that it’s not the desire for brands and luxuries, but the basic needs that are killing American families. 

Maxed Out forces us to think about harsh outcomes of our national debt addiction: the suicides, the ruined lives, and, ultimately, the disappearance of the American middle class.

Warren has written a number of books and articles that reveals the dirty secrets of the credit industry.  These include The Two-Income Trap: Why Middle-Class Fathers and Mothers are Going Broke and All Your Worth: the Lifetime Money Plan. 

In the past, credit cards were issued to those who could very well pay their bills and denied to those who were financially weak.  Maxed Out shows the current situation contradicting this sound principle.  The present government needs to pass tougher regulations to the credit industry.  It should take into account an individual’s income while giving credit.

We are led to think about what we ought to do when the nation at war is going through an economic and emotional crisis.  But through the faulty credit system, Americans are encouraged to spend more and then suffer the consequences.  Why don’t we realize the addiction and get out of it?  The economic culture is changing at a high pace and the movie brings out the reasons for it.  The movie is a must see not only for those studying Bankruptcy law, but also for the common American.