' Help with Senior Medical Bills - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

The Dangers of Florida Seniors Acquiring Credit for Medical Bills

It may not be newsworthy to read that many Florida seniors live on a fixed income. However, how that admittedly obvious fact is affecting seniors faced with mounting medical bills may be worth mentioning. These days, it seems simple for seniors on a fixed income to pay medical and dental bills through loans and/or credit cards. This may work in the short run, but in the end, it can cause significant problems.

When sitting in a doctor’s office or a hospital room in need of medical care, hearing that it is possible to pay medical expenses over time can be enticing. Medical professionals receive full payment at the time of service, and the patient will be able to make smaller payments on that debt. Many medical credit cards even offer a period where no interest will accrue on the balance.

However, not many people — especially those on a fixed income — may be able to pay off the entire balance within the zero interest time period. This means that, ultimately, the patient is going to be hit with interest that can range anywhere from 25 to 30 percent. Further, missing even one payment can result in exorbitant late fees.

What started as a win-win situation for both doctor and patient can rapidly become financial quicksand for the patient. Some Florida seniors find themselves filing for bankruptcy protection as a means of responsibly dealing with large amounts of medical bills paid for by medical credit cards and loans. There may not be an easy answer regarding how to make healthcare more affordable, but there are options that are worth exploring for those whose medical bills have simply become unmanageable.

Source: The Wall Street Journal, Medical debt snares more retirees, Matthew Heimer, Oct. 14, 2013

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Do Both Spouses Have to File Bankruptcy?

For some couples, filing for bankruptcy is the best way to get out from under crippling debt. But what if...
Read More

Will Bankruptcy Ruin My Life?

Bankruptcy is a legal solution for people struggling with unmanageable debt. It can be a difficult decision to make. In...
Read More

Can Bankruptcy Take Inheritance?

Are you considering bankruptcy? Do you have concerns about your assets? Can bankruptcy take your inheritance? Here’s what you need...
Read More

Can You Go to Jail for Filing Bankruptcies?

Bankruptcy is a difficult decision. However, it can be necessary if you are struggling with debt. This is true whether...
Read More

Can You File Bankruptcy If You Don’t Have a Job?

Filing for bankruptcy is an intimidating prospect. Unemployment adds another layer of complexity to the situation. Can you file for...
Read More

Who Pays for Bankruptcies?

When a debtor files for bankruptcy, the court discharges the majority of their debt. This means that the creditors must...
Read More

Do You Have to Go to Court to File for Bankruptcy?

If you are considering filing for bankruptcy, one of the biggest questions you may have is whether or not you...
Read More

Can You Rent After Bankruptcy?

Filing for bankruptcy can be an overwhelming experience, and it’s important to understand the implications of this process before you...
Read More

Can You File Bankruptcy on Unemployment Benefits?

If you’re considering filing for bankruptcy due to financial hardship, it can be helpful to understand the various options available....
Read More

Do Bankruptcies Show Up on Background Checks?

The decision to declare bankruptcy can be difficult, and it is important to be aware of the potential consequences. One...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions