Can't pay your doctor? Charge it!
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Americans are choosing credit cards over money when it comes to paying up the almost $300 billion they mop up annually in medical charges — the principal cause of bankruptcy — every year, CNNMoney.com announced earlier this month. The result is customers are only sliding down deeper into debt as they attempt to keep themselves healthy enough bring in more money to pay off the credit cards:
"Out-of-pocket health care spending was already increasing in good times," said Bruce Carlson, publisher with health care market research firm Kalorama Information. "Now with high unemployment, consumers have to reach into their pockets even more to fund their health care."
The story continues to state customers are also passing over their bills altogether, furnishing hospitals and physicians all the more willingness to accept credit card payments. Which is fantastic for credit card companies, besides the fact that they're clients are failing on their immediate payment more often.
