In Debt We Trust
By Drew Johnson on Thursday, July 12th, 2007 :: 10:57 amCategory: Videos, Reviews
In Debt We Trust is a documentary film by Danny Schechter which was released in 2006. It attempts to peel the surface off the consumer debt industry by taking a candid look at average American consumers struggling with debt.
Does Schechter Succeed?
Eh, sort of. The director interviews everyone from college students to suburban housewives to the PR rep at a major credit lender. There are no startling revelations. Yes, we see credit lenders charging interest out the wazzoo. Yes, college kids get sucked into debt at a young age with little knowledge of how to manage their debt. Yes, middle-class suburban families drown in debt, barely able to pay their interest and late fees every month. But does Schechter break any new ground or tell us debting consumers anything we don’t already know? Not really.
Schechter, a frumpy, fuzzy-haired, bespectacled media/finance guru is fun to watch sweat and squirm through his interviews. He seems to genuinely care about the problem of consumer debt and the direction it’s leading our country (I’ll give you a hint- the average Joe is beholden to the dark credit overlords), but his revelations fall flat. Did anyone not know that most Americans have a hard time dealing with their debt? We are not surprised when the film reveals that lenders and major corporations want us to spend more money.
Low Budget Bonanza
The film is most undermined by its shoddy production value. Schechter is a deft interviewer and really does home in on the problems underlying consumer spending, but the film is so sloppily thrown together that it loses credibility. The jumps between sections of the film look like they were made by the director’s 14-year-old nephew on the family computer and the soundtrack is just plain bad.
Final Analysis
In Debt we Trust has some poignant moments, but those struggling with serious debt could find better information elsewhere. There is not much in this film that serious debtors don’t already know.
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July 17th, 2007 at 9:27 pm
I want a loan to help my sick grandmother, because I don’t have money to take her to the hospital. I also want a student loan to continue my education. How do I get these loans?
July 23rd, 2007 at 4:01 pm
Dear W. Chaiyara,
A loan to help your grandmother is probably going to be a personal loan that you may apply for at commercial bank or lending institution. You need to have good credit to receive a low interest rate on the personal loan. Another option might be to apply for some type of financing method to help your grandmother recover her health. Many hospitals and clinics offer medical loans or financing options to accommodate health procedures.
Student loans are much easier to borrow because you don’t have to deal with a private lender. You can get more information on federal student aid at www.fafsa.ed.gov. Once you decide on a school, whether it’s a university or community college, you may find it easier and quicker to use the school’s department of financial aid. They will provide you with the necessary resources to continue your education.