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Maxed Out<\/strong><\/p>\n Most Americans have gone into debt or are in debt one point or another in their lives. Most of us have run up credit card or other forms of debt and been daunted by the prospect of paying it off. Most of us have one or more credit cards. In fact the average American has about eight credit card and about $8000 in debt per household. In 2003, consumer debt hit an all-time, record-high of $1.98 trillion, not counting mortgage debt. Household savings are also plummeting. In 1993, the average American’s savings was a mere 5.9% of their disposable income. Ten years later, it had dropped down to 1.3%. Now, most Americans are struggling with what is called “survival debt,” meaning using credit cards to pay for groceries, rent, and other necessities. Banks, credit card companies and collection agencies meanwhile, are quite content with these statistics. The greater the average debt, the greater their profits. <\/p>\n But most news coverage of American debt focuses on how people get into debt, not how they are preyed upon. A new, acclaimed documentary by James Scurlock, Maxed Out, exposes the debt industry in the US and what you can do about it. According to Variety Magazine, Maxed Out is “Intelligent, informative, and unusually entertaining.”<\/p>\n![\"Maxed](\"\/home\/graphics\/maxed_out.jpg\")
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