Credit Cards And Medical Debts
Saying that "a society is seriously out of whack when legalized loan sharks are encouraged to close in on those who are broke and desperately ill", New York Times columnist Bob Herbert writes about the credit card industry in his column today titled "Your MasterCard or Your Life". Herbert cites a recent report by Demos and the Access Project titled "Borrowing to Stay Healthy: How Credit Card Debt Is Related to Medical Expenses" that pointed out how frequently credit cards are used for medical-related debts. He concludes by saying "we need to protect financially vulnerable patients from a credit card universe in which there are no legal limits on fees or interest, and where the abuse of customers is the norm."
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