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Seniors, the poor, the sick, those with low intelligence, and the poorly educated continue to be the "marks". Probably it was always that way, but today it is more organized corporate theft.
And where do these "finance companies" get the money they lend to individuals at extortionist rates? Why from the commercial banks, of course. That was extensively documented years ago in a PBS one-hour documentary titled, "Banks and the Poor".
The bankers have no problem funding those who prey on the weak.
The "respectable" bankers provide the funds the payday loan sharks, used car dealers and others who prey on the poor lend at exorbitant rates.
Of course, the "respectable" bankers claim their hands are clean.
In Response to Re: Patients Mired in Costly Credit From Doctors:
I feel sorry for this woman as many adults, be they seniors or younger, are easily taken advantage of by clever associates. They are often not given all the ramifications of a loan, but are pressured into signing. Any way, why would a woman this age need a partial costing over $5,000? Didn't they understand that she's on SS and will probably find these payments unaffordable?
This seems to be the new approach in the medical field to have patients paying out of pocket which is nothing more than having a credit card with high interest rates. It's profit driven without much concern for the patient, especially in dentistry. My brother who is 64 and has dental insurance from work was encouraged by his dentist to come every 3 months for an exam and to have some of his teeth re-capped so that he can use his insurance up. It would only cover about 40% of the bills.
Every time I see this "reverse mortgage" on TV, it makes me wonder if this is going to be the new option for people to pay their medical bills.
Posted by intersan