The New York Times has an article out today that discusses the recent trend of medical offices offering to patients the option of paying for their procedures in advance with a medical credit card. These cards, or accounts, are being offered to pay the portion of the care not covered by health insurance, or even for folks without health insurance or who have no coverage for that particular procedure.
There are many different companies that offer these cards, or accounts, but the one that we see most often with clients is the CareCredit, a unit of General Electric Finance.
If a patient does sign up, the medical provider is paid by the finance company, then the patient pays back the finance company over time, often at very high interest rates.
These accounts are treated in bankruptcy as an unsecured creditor and may be a debt that can be discharged.
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