What’s the Catch on Plastic Surgery Loans?
Plastic surgery is a fast growing industry and many more people today are opting for surgery to enhance the body and turn back the signs of aging. Television shows and advertising, easier accessibility to surgery and increased social acceptance are just a few of the many reasons why the industry continues to grow so rapidly. Another reason for an increase in plastic surgery is the many financial options now available to potential patients, which includes plastic surgery loans. This makes surgery a possibility for many who previously could not have afforded such a luxury.
As medical insurance does not cover cosmetic surgery, those desiring these types of procedures must find ways to pay for the high costs involved in medically unnecessary surgery. Plastic surgery, such as breast augmentation, rhinoplasty or abdominoplasty, can cost upwards of $7,000 to $10,000 to cover surgeon fees, hospital or facility fees and anesthesia, if not more. Many financial companies now cater to the industry by offering specialty loans, often directly through plastic surgery offices and clinics, which are designed specifically with potential cosmetic patients in mind.
Plastic surgery loans do make it possible for many people to have cosmetic surgery that may otherwise be unaffordable to them. However, cosmetic loan companies will often offer a high line of credit to those who would not otherwise quality for a financial loan, which encourages debt that cannot truly be afforded for unneeded services. They also tend to have extremely high interest rates that typically range from 14% to 20% with some loans with rates as high as 30%. The patient will also be responsible for loan processing fees in addition to the original loan amount that generally range from 5% to 10% of the borrowed amount. Your surgeon’s fee may also be higher than it otherwise would have been to make up for his or her costs incurred to the loan company for their services.
There are other downsides to the ease of plastic surgery loans as well. Often plastic surgery offices will work directly with lenders offering cosmetic surgery loans and encourage their patients to apply and use their services. Many times patients are approved for these credit lines in the office before even leaving from their initial consultation visit. This may cause some to choose to go ahead with surgery right away that may not have otherwise before taking the time to think over the seriousness of major surgery. This is especially true in the plastic surgery industry as many seeking cosmetic surgery consultations are already highly self-conscious about their appearance, which makes them more vulnerable to the option of a quick and easy loan.
If you are considering plastic surgery, be sure you choose a surgeon with at least five years of additional surgical training as well as several years of certified experience. You’ll also want to make sure your surgeon is a member of the ASPS. You need to be well informed about the procedure you are considering and the surgeon you are choosing as well as informed about the financing options that will most likely be presented to you.
Be sure you are aware of all conditions and terms of any plastic surgery loan you are considering before agreeing. You’ll need to be sure ahead of time that you can afford these types of high cost loans and must be prepared for the additional financial burden it may bring.
Credit Medical offers affordable plastic surgery loans. It provides patient credit for for elective medical procedures such as cosmetic dentistry financing.
Plastic Surgery Loans FAQ:
Question: Plastic surgery loans?
I am 17 and I really want plastic surgery. I don’t however have the financial support to fill this desire. I wish to get a lip lift and rhinoplasty, could I get a loan once I turn 18?
Answer: No banker with any sense is going to give you an unsecured loan for that much money. Unsecured means you have nothing of value the bank could take IF you don’t repay your loan. When you don’t pay your car loan they take the car. They can’t take your face.
Question: Is it possible to get plastic surgery at 18?
Is there a cosmetic plastic surgery loan that they would let an 18 year old take out?
Answer: Have you fully thought through the potential dangers of the process? This is something you can’t undo, so you want to give it proper thought in the first place. Not only would you be going into debt, but you are putting your body on the line. You do not need consent to have the surgery done, but for loans, it will depend on your credit and job.
Question: What if you don’t pay a PLASTIC SURGERY loan?
I’m planning to get a nose job using a finance company that finances anyone regardless of their credit score. My score is bad and they are the only guys that have accepted me. I’m just wondering, what if the nose job comes out bad or botched? If I didn’t pay the loan would I be sent to jail or what?
Answer: Getting a botched-up surgery is the risk you run when you decide to have unnecessary operations. Personally I would strongly advise you to rethink – especially as your financial situation is less than peachy. If you don’t pay the loan, they can sue you and garnish your wages.
Question: Loans for plastic surgery for bad or no credit with out a co signer?
Answer: Just an observation, (unless the surgery is medically necessary), if you already have bad credit, why make it worse by getting a loan and being more in debt? If you have bad credit, you probably could not get a loan without a cosigner.
Question: Can you get a plastic surgery loan with a credit score of 674?
Answer: Probably not, but you might be able to get a personal loan in the range of maybe $5,000 to $10,000 especially if you have collateral such as a house.
Question: Where is a good place to get a plastic surgery loan?
I am trying to get a boob job but I need a loan to help me out.
Answer: Don’t get a loan. If you can’t afford to pay for it you shouldn’t get it. Get a loan for something that will increase in value, like a house.
Question: Plastic surgery?
Can you take a loan out for plastic surgery? And can you make payments on plastic surgery? Also how long does plastic surgery take to completely heal?
Answer: There are some companies out there that will foot your bill. Be wary though. My girlfriend used Doctorssayyes.net and there is breast aug usa. Depends on what surgery you get is how long it will take to heal. Lipo takes up to 6mos-1year before you see results. It’s painful and you have to wear a really tight spandage. Breast augmentation- you can do it on thursday and go back to work on monday provided that you don’t do any heavy lifting. It takes a while to see what size you end up because you have to heal. You want to do research and the doctor you choose should be board certified and have pictures of his/her work. You should find one who is about you and not about the dollar and will do your procedure and not overdo your procedure.
Question: Plastic Surgery loan? (college student, female)
I am thinking about having a cosmetic procedure done. Rhinoplasty (nose job) to be exact. I have found out that there are loans available. My only problem is will I qualify for one if I am a college student (20 yrs old) with no job (but my parents help me out financially, so I would have the means to pay the loan back with). Does anyone know if it would be possible for me to apply and get a loan like that? (My parents will certainly refuse to get one for me, so I don’t even need to go there, they’ve told me so)
Answer: Probably not unless your parents cosigned the loan, which you said they wouldn’t do. Be careful when choosing a lender for your loan because I have heard that the interest rate on those loans are outrageous. I would recommend you save your money to pay for your surgery. I know that isn’t what you want but it may be best for now. And by the time you have saved up the money required for the surgery you may find that you have better things to spend that money on or may not even be interested in plastic surgery anymore.