Financing For Plastic Surgery

  

When your insurance company doesn’t pay for cosmetic surgery because it’s elective, and you don’t have the money in the bank to pay up front, what are your options? Do you have to wait until you save up enough money before you can have the facelift, tummy tuck, or breast uplift that you want? That, of course, depends on your personal financial situation. You do, however, need to check into the options before you even go for your first evaluation.

Depending on the surgeon you choose, it’s possible you may find one who offers a payment plan right in the office. In most cases, this means you pay a certain amount down, and the doctor will agree to accept a set amount in payments each month thereafter. You want to be careful when using this option, because in many cases, the down payment is smaller in order to encourage patients to take advantage of it. However, the monthly payments may be short term, and thus much higher than what you can afford. Although this is not true all the time, it is in many cases. The reason is doctors want their money right away, and as such, they really don’t want to be stuck financing patient bills. Therefore, what they do is make it somewhat attractive by offering a payment plan, but at the same time, discouraging patients from using onsite financing because of the future high payments.

Another option is using your credit card, if you have enough available to finance your cosmetic surgery. Financing this way means you don’t have to pay a down payment, and you have low minimum payments. On the down side, cosmetic surgery is expensive, so you will tie up a good portion of your credit line. Of course, if you are financially sound and have a substantial credit line, it may not have a detrimental effect, especially if you have a card with a lower than average interest rate. If you had planned to pay a down payment, you can also do that and put the balance on your credit card. This will reduce the amount of your credit line that you tie up with your surgery.

A third option is applying for a personal loan at your bank. Of course, for those who have less than perfect credit, they may need to obtain some collateral such as real estate or a motor vehicle, but it’s always possible. If you already have an equity line of credit, you can use that as well, by just writing out a check against your available balance. There are always ways you can come up with the funds you need for different things, including that of cosmetic surgery. You may even choose to take a loan against your 401K plan if you have one, or take a loan against your savings account or other assets you may own. Make certain you know you can obtain the funding before you go any farther than the initial consultation. Make sure you can pay for the surgery before you schedule it and tie up the surgeon’s schedule. For more articles like this, bookmark www.FinancingForPlasticSurgery.net

Author: Amy Nutt

Financing for Plastic Surgery presents the following thoughts about financing your plastic surgery goals.  There are a variety of ways in which you can finance your plastic surgery, from using a credit card, obtaining a loan, or discussing financing options that your plastic surgeon may offer or have access to for their patients.  Your plastic surgery dreams can come true, without breaking the bank! 

You’ve saved every cent, busted open your piggy bank, and dipped into your savings, but you still don’t have enough to cover the cost of your cosmetic surgery. Don’t let steep price tags destroy your dreams of getting the cosmetic procedure you’ve always wanted.

When you buy a new car, no dealer expects you to come armed with a suitcase full of cash and neither would a plastic surgeon. Today there is a variety of financing options to suit your specific needs, whether you need just a little help or a lot.

Before you reach for your credit card, consider finance companies that are specifically geared towards cosmetic surgery. They offer personal loans that can help you fund the full cost of your procedure or just a portion; however, as with any loan, the better your credit history the better your chances of a larger loan with a low interest rate.

Before applying to any finance companies, it is wise to check your credit rating as rejected applications can cause further damage.

Another issue to consider before choosing a finance company is that interest rates, even with decent credit, tend to be rather high. This is because the loans offered are unsecure, meaning there is no collateral requirement. With no collateral to offset the loss of a defaulted loan, cosmetic surgery financing companies run a high risk of losing money.

If you decide that a loan is a good way for you to pay for your procedure, it is always wise to choose your plastic surgeon before choosing a finance company. Some cosmetic surgeons will only accept loans from certain financial lenders or refuse them altogether. If you only feel comfortable with a specific doctor, it is best to consult with him or her beforehand about what payment options are available. Often times, doctors have their own financing options that you can apply for immediately after your consultation.

If money is a big concern, you will also need to take into consideration the complications and risks that may arise during or after surgery. If it is an elective cosmetic procedure, health insurance will not cover any problems related to the surgery. It is important that you are aware of your doctor’s liability agreement in case something goes wrong.

Financing is a good way to make your cosmetic surgery goals a reality, but be sure that the scheduled payments are within your budget. Of course, it is helpful to pay for as much of the surgery that you can beforehand with cash.

Also, note that it is difficult to receive more than one loan at once. If the financing company offers a loan that does not cover what is needed, think about what other alternatives are available. It might be financially wiser to save up for a while longer than take an insufficient loan and charge the rest.

Just because you can’t afford a lump sum for a cosmetic procedure doesn’t mean that you can’t afford it at all. Financing companies can ease the pressure of such a large financial commitment.

Author: A Aaronson

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