Consumers everywhere are experiencing financial debt loads beyond description. A new documentary film titled “In Debt We Trust: America Before the Bubble Bursts” , by Danny Schechter, who developed, wrote and directed this movie, quickly realized the overwhelming fact that consumers are drowning in personal debt.

We can’t put all the blame on consumers. Creditors, such as credit card companies, have made it far too easy to accumulate debt in record numbers. Preapproved credit card applications are regularly mailed to consumers, only required to agree to accept their cards and begin charging. Interest rates charged by credit card companies are egregious, has the Government regulated them to charge fair and equitable finance charges, no.

Bankruptcies continue to rise at the expense of consumers ruining their credit ratings and their ability to apply for credit in the future. Companies simply call this “an expense of doing business”, while the paying consumers assume the costs of bad debt write-offs.