surgery financing question

[Rebecca Jackson]

I’m strongly considering getting a tracheal shave and a nose job to correct two things which are obviously dead giveaways that I was born male, and which I’m very self-conscious about. Ideally I would prefer to save up the money for these procedures, but being a single parent my finances don’t allow me to save up that amount within a reasonable time period. I’m already 48 and have waited this long to reach a point in my life where I’m able to start transitioning. One option is to charge the surgery to my credit card. The other option is to finance it through companies which specialize in financing medical procedures. One of the doctors provided me with a list of their preferred finance companies (Cosmeticredit, Reliance Finance Company, Med Loan Finance, Surgery Loans, My Medical Loans, Care Credit, and M. Lend). They all offer variable interest rates depending on credit score, length of loan, etc, and have steep penalty rates for late payments, etc. I guess I’m just leery of these financing companies, but I suppose it will come down to which option gives me the lowest interest rate. So, my question is, have any of you dealt with any of the financing companies I listed, and if so, what were your experiences with them? Thanks!

Rebecca

[kellycan27]

I would be leary of of these type finance companies.. They may offer you one rate, but if you are late on even one payment they can jack it up. You really have to read the fine print of the contracts, and even then if you aren't a lawyer they may sneak something by you.

Do you own your own home, and if so might you be able to get a line of credit? Do you belong to a credit union? Do you have a 401k plan.. Often you can take out a one time loan against your plan at a very low interest rate

kel

[Hope]

I have to agree with Kelly - those sound like bad finance options. I would look for almost any alternative line of credit before getting involved with something as smarmy as that. Then if you really have no other option - consider it... but... <shudder>.

[noeleena]

Hi.Rebecca.
I know your in the states so some of what i say may not be of much value , any way.

what pricing have you found ,i assume youll have the surgery done near you ,
Have you thought of coming over to thailand . as the cost is a lot cheaper. iv been to phuket & had other surgerys done the cost all up for them was kiwi $15,000
& 23 days there, It could be worth looking at. any way just a thought,
If you need any info i can get that if you need it.

s r s & b a ,flights, food ,& acom plus some sight seeing ,

...noeleena...

[StaceyJane]

I used Care Credit for the laser work on my arms. It wasn't a big bill (compared to SRS) and I got 18 months interest free.

[Gisele]

I have Care Credit too. Used it for some dental work (2 root canals):sad:
I also got 18 months interest free. I keep it for an emergency. Good dealings with them.

[natasha]

I had to put my orchiechtomy on the Credit card. Ouch! But its done now, and happy to have that over with.

[Kaitlyn Michele]

they are totally legitimate financing companies...the only thing to be leery about is yourself not understanding the terms

if you take out a line of credit on your house and can't pay, you lose your house...

there is a huge difference between putting up collateral and not putting up collateral.

if you have good credit, put it on your best credit card and pay the bills!

if you don't have good credit, then the finance companies have reason to be leery of you!!!

and unless you are willing to risk your home, then that's where you need to go, and just cut the best deal possible...

take out the fundamental aversion we all have to "financing" companies, and think about what you want, minimize your risk, understand the deal, and get the least expensive way deal..

there is no free lunch

[SusanLeigh3454]

Rebecca - Kate is absolutely right, and read the fine print in the loan documents. If you collateralize the loan, the lender will not think twice about foreclosing if you default. If you need a cosigner and you do not pay, then the lender will look to the guarantor. And should you use a credit card, be careful that the amount of credit does not change your credit score that your credit rating falls and your interest rates goes up on all your cards.

You are being prudent to investigate the credit card companies before signing on the bottom line. Just go into the transaction with your eyes wide open.

[Tina P Hose]

I don't know I do not trust banks, and credit cards are a tool of the devil.

[TerryTerri]

I'm not going to go into to details. But I KNOW that Kaitlyn Michele really really knows what she is talking about in the financial arena and I personally put much much weight into anything she says in regards to finance type things.

Hi Kaitlyn. lol!