The Debt Trap

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One in every 60 U.S. households filed for bankruptcy in 2005. It's likely someone in your family, a neighbor down the block or a co-worker in your office is in bankruptcy court. It's not just an American problem either. Scotland has had a 33% rise in people losing there homes. For every $100 an Australian earns, they owe $130. What about you? Have you experienced difficulty paying every bill on time? Would you say that your financial house is in order? Stay tuned to Beyond Today as we discuss the problem of and the solutions to "The Debt Trap".

Channel: News & Politics
Uploaded: November 29, 2006 at 8:29 am
Author: BeyondTodayTV

Length: 0:28:30
Rating: 4.42
Views: 28,293

Tags: money debt finances credit cards bankrupt balance bills pay America advisor financial Bible God savings spending habits

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Video Comments:
randy95023 (Tuesday 24th of June 2008 04:00:42 AM)
In College my daughter ran up credit card debt, but she did it responsibly to support herself through the "starving college student" phase of the Junior/Senior year of college. When a school kid is trying to live off of about $1,000 per month $10K seems like a fortune. Now her and my son-inlaw make over $10K per month and the amount seems trivial. Used responsibly college students can wisely use cards and they are basically a Godsend. Used irresponisbly, however, they're a nightmare...
commodore256 (Friday 20th of June 2008 10:58:18 PM)
It's a Trap!!!
brad111515 (Sunday 15th of June 2008 04:26:20 PM)
Did i hear this right... When god wrote the bible he told us to save our money?
phredhead (Sunday 18th of May 2008 08:01:01 PM)
"Why did you give my son a credit card?" Why did your son accept it? That`s the problem. Obama said "people are losing their homes through no fault of their own". Huh? Whose "fault " is it? We`ve got to accept responsibilty for our actions.
dirtyniggeronpcp (Monday 26th of May 2008 01:10:23 PM)
Well put, buddy. We're so easy to blame others when it's clear that you run your own life and make your own choices, essentially you control your own destiny. Obama is playing on that, and for that he's a Socialist weasel that must be stopped. I don't like McCain, but goddamn, he's certainly more logical than Obama and Hillary.
fantasy86dj (Saturday 3rd of May 2008 04:53:25 AM)
I think that this video is very informative, about ways to reduce debt and how we can change our spending habits.
machinationation (Sunday 23rd of March 2008 02:32:34 PM)
Just turn off the T.V. , cook your own simple meals and practice financial discipline. Exercise is free , try that. Don't buy a car unless you can afford it. Simple. Math doesn't lie. Greed always has a terrible return.
dan020350 (Thursday 13th of March 2008 05:49:45 PM)
There is only debt when justice is not served, and if the gov't is not a just one, the debt is infinite
lexelence (Thursday 13th of March 2008 02:37:20 PM)
I disabled it because every time I tried to reply to comments, they wouldn't post. I don't know if I am doing something wrong. As for Walmart, the corp structure is exactly a pyramid. You move up the ranks in relation to how hard you work and how successful you are. What about Enron, World Com and a bunch of others who are publicly traded companies. They screwed tons of people out of their fortunes. Will people stop trading stocks as a result? MLM is regulated by the Direct Selling Association.
cdltpx (Thursday 13th of March 2008 07:47:26 PM)
20/20 60 min all have done stories on these they usually pop up in religious institutions and are plied on the ignorant gOOgle the phrase and you don't have to ask me you have a wealth of information. You find a book online you can go to the library get an interlibrary loan for any book your library don't have.Some times I look up the best price and they will actually buy that book if they can't locate it I try to take as much work out as I can. Have the ISBN # and any information onbook.