What Is the Name of the Reality Tv Show Dealing With American Families and Credit Card Debt?
Question by Not Here: What is the name of the reality tv show dealing with american families and credit card debt?
I was able to catch it while at some one else’s house. The tv show was about american (and possibly canadian) families that buy things on credit and can’t afford them. Like the wife would buy new things all the time on the credit card and not tell the husband. It usually involvess people who are kleptos or shopaholics or just feel inadequatee unless they own the latest product/item. Thanks!
Best answer:
Answer by Chloe
MTV had a good episode on “True Life” about being in debt. Here’s the summary:
March 05, 2007
MTV’s True Life Documentary Shows the Real Cost of Being in Debt
MTV’s True Life special “I’m in Debt” is the financial equivalent of one of those “Blood on the Pavement” driver’s ed videos. It’s horrifying and should be required viewing for all teenagers.
The three twenty-somethings profiled on the show have already accumulated massive amounts of debt with little or no income available to pay it off:
•Amy (22) has $ 14,000 in credit card debt and is marginally employed. Debt collectors call her constantly and she still splurges on tanning and shopping.
•Daniel (25) has a $ 900/month mortgage payment, thousands in credit card debt and is in between jobs.
•Ashley (21) has $ 20,000 in credit card debt. Her debts have forced her to move back home with her parents and consider bankruptcy.
I wish I could find a clip of this show online; MTV only has a summary and slide show. The real star of the episode is bankruptcy attorney, Russell Simonetta. He takes the time to explain the bankruptcy process to Ashley and the impact it will have on her credit. He even goes so far to talk to her about how bankruptcy could stop her from getting an apartment, loan or job in the future. Hooray for Russell! I hope that there are more sincere and smart bankruptcy attorneys out there like him.
In contrast, the credit counselor Ashley goes to see (as required for bankruptcy filings) tries to sell her on a 41-month debt negotiation plan that will damage her credit extensively and only save her $ 3,000 in the long run. This scene highlights just how worthless the government mandated credit counseling really can be. Luckily, she chooses bankruptcy instead and seems to have learned some valuable lessons.
SOAPNET also has a show called “The Bank of Mom and Dad”.
A&E has featured episodes on “Intervention” about shopaholics as well.
This subject has also been covered on countless talk shows such as Oprah and The Tyra Show.
This is a far too common problem and it’s so sad that so many people feel the need to make themselves feel good by buying materalistic things. It’s a temporary “high”. If you have a problem or know someone that does, there is help! Just google “Help for shopaholics or kleptomania”.
Know better? Leave your own answer in the comments!
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