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Debt Trap in a Doctor’s Office

Consumers beware. There is another credit product being slyly marketed that comes with high interest rates and steep penalties. It may be right in the office of your doctor or dentist. For cash-strapped consumers, the come-ons sound like a quick solution to covering costly services. In truth, it’s a debt trap.

Doctors and dentists are using new consumer finance options to help patients pay bills. What patients often don’t understand is that they are not signing up with their medical provider for short-term credit. They are contracting with a national finance company or major bank for a costly loan that can come with interest rates of more than 20 percent and penalty interest rates after a missed payment of more than 30 percent.

Some lenders promise doctors and dentists they will dispense with a credit check on patients, meaning loans are given to people who have no proven ability to repay them. Putting patients into  unaffordable, high-interest loans to obtain medical services is a form of financial exploitation.


“In the confrontation between the stream and the rock,

the stream always wins, not through strength but by perseverance.”

~ Jackson Brown

Herschel Bentley is the Executive Director of National Credit Federation.  He has 30 years experience in the credit, mortgage and real estate markets and loves helping people improve their credit and seeing referral sources grow their business.

Lawrence M Law is CEO of Vantage Credit Alliance and Regional Director for National Credit Federation for 7 years. He has been in the credit and financial industry helping people with credit for over 25 years. If you need assistance, please contact him at 801-769-9443 or

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