Financing question

[sthrnbll 0]

Dont know if anyone will know the answer. I may possibly have to self pay. I would assume the Dr. uses some type of finance company? Is it a sure thing that I will be approved? I have had some hiccups in the past.

[RestlessMonkey 7]

I'm sure it varies but at my surgeon's office, you secure financing on your own. It's not like buying a car. You come in with the money or insurance. They do have brochures for finance companies but you're on your own to choose one, apply, etc.

And from what I've heard it isn't "easy" to get approved. If you consider you'll understand why; it is an unsecured loan and if you default there's nothing they can come take back. I've heard people must have pretty good credit to qualify.

If you scroll down on the home page you'll find an "Insurance and Financing" forum. You may find more info there, and get more answers to your question if you post it there. Good luck!

Edited September 20, 2009 by RestlessMonkey

[gbakerc 2]

Luckily I have ins that will cover it but they told me that alot of the surgical financing options have dried up as of late. Care credit was a big finance company that covered these but I have heard that they rarely will lend out that much anymore. I don't know that for sure.

[ParrotheadCathy 0]

Care Credit lets you apply online and gives you instant response. I applied for $10,000 and got instant approval. My credit's not horrible but it's not perfect either. And when I say instant, I mean instant. You put in the whole cost of your surgery and it approves you for up to a specific limit.

[thinoneday 445]

I guess I'm one of the very few lucky ones, I was completely financed through my bank with a personal loan, I just put up one of the cars up for collateral. . .and I got the amount for 3% payback. . so it's not bad. . . good luck to you.

[SumSum 1]

My surg center is contracted with Care Credit. And they applied for me in the office once I decided I was a go. The total cost of my surgery is $10,500 (all inclusive + fills for a year) and I was approved for $6,500 (10% interest over 60 months ---> $150/month, about what i spend on crap food anyways) and my mom is helping me out with the rest as a graduation present.

I'm only 22 and a college student with a part time job, so my credit history, albeit good, isn't very strong. I figure if I can get approved for that, then anyone not in a substantial amount of debt (I owe about 20 grand in student loans) should be fine. The approval process is easy.... you self report your income (so if you fib a little, they cant prove it) and they give you different options (I could have gone 0% for 12 months, but those payments were too big for me).

I didn't really look into a private bank loan and maybe I should have for a lower interest rate. But to me, I feel like I got a decent deal as is. And the way I look at it, considering the cost associated with over eating and being over weight over a life time, this will be money well spent.

Another company that I have used in the past (when I got laser hair removal) is Chase Health Advance and they offer a lot of 12, 18 or 24 month 0% offers if you finance a large enough amount.

-Sum