Caught in the Debt Trap
A bad financing concept, joblessness, divorce, illness: there are many reasons why people fall into the debt trap. It is a tough, grueling battle to become free of debt once again – assuming a solution is even possible. This documentary accompanies debt-ridden individuals who have wound up in this disagreeable predicament for a variety of reasons. Financial debt, and the shame and anxiety associated with it, have transformed their lives in dramatic ways.
The D. family from Oer-Erkenschwick did a good job of planning every aspect of their lives. After the birth of their two daughters, the married couple – who were fortunate enough to have a good income – built the family home, financing the venture through solid credit from the Sparkasse. But then Volker D., who is a locksmith, became unemployed. Driven by necessity, he became independent by opening a franchise, collaborating with a Bremen firm. Things started to go badly, and he realized he had made a poor decision. As the years passed, he found himself unable to cover his costs. He tried to sever the contract, and took the case to court, but the settlement required him to pay out €15,000. As a result, the D. family fell behind on the monthly mortgage payments on their home. Not long thereafter, the Sparkasse called in the loan and arranged a foreclosure sale – despite the fact that Volker D. had been a customer for thirty years. It simply didn't matter, only figures and procedural guidelines did, and although the D. couple plans to catch up on the payments, they no longer have much hope left: once a loan has been called in, the house is as good as gone! This documentary accompanies the couple during their desperate struggle to hold onto their beloved home. For them, meetings with loan counselors, court dates, complaints against malicious neighborhood gossip have become the order of the day.
