The demand side of financial exploitation: The case of medical debt

Robert Seifert

Housing Policy Debate, 2004, vol. 15, issue 3, 785-803

Abstract: Debts resulting from medical expenses (that is, unpaid medical bills and/or income lost because of illness or injury) are a significant component of consumer debt. Medical debt is usually involuntarily acquired, frequently unexpected, and often large enough to affect other aspects of people's financial lives, housing among them. Medical debt may result in property liens and restricted access to credit, including mortgages. Research to date strongly indicates that medical debt is common and is a significant source of financial distress. As such, it may be a source of demand for exploitative loans. A number of intersections between medical debt and lending in general and predatory lending in particular are observed or hypothesized. These intersections suggest an agenda for further research to determine the strength of the link between medical debt and predatory lending, as well as the advisability of changes in health care and financial policies.

Date: 2004
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DOI: 10.1080/10511482.2004.9521520

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