Who Offers Plastic Surgery Loans for Bad Credit?
There are several lenders willing to give cosmetic surgery loans for bad credit.
As with any loan, you should take the time to compare the services of different lenders. It might be that one lender is better suited to your specific needs.
For example, you may require cosmetic surgery financing for bad credit with no cosigner, which is not something that all loan services will offer.
Here is a brief overview of the services provided by some of the most popular lenders supplying plastic surgery loans for bad credit:
CashUSA.com
- Loans from $500 to $10,000
- Loan term from 3 to 72 months
- Must have monthly post-tax income of $1000+
CreditLoan.com
- Loans from $250 to $5,000
- Loan term from up to 72 months
- Must have monthly post-tax income of $1000+
PersonalLoans.com
- Loans from $500 to $35,000
- Loan term from 3 to 72 months
- Must have monthly post-tax income of $2000+
As you can see from this information, there isn’t too much variation among the services of the lenders offering plastic surgery loans for bad credit.
However, there are a few key differences that will affect your decision.
What Should I Consider When Taking Out Cosmetic Surgery Loans for Bad Credit?
What is the Interest Rate?
This is the most important question to consider, as the interest rate will determine how much the loan ends up costing you.
The choice of lender, the size of the loan, the repayment term, and the extent of the bad credit score could all affect the interest rate on offer.
Can I Access the Maximum Loan Amount?
Don’t be solely attracted to the lender with the largest loan limit.
The maximum amounts may not technically be plastic surgery loans for bad credit, as they could only be offered to borrowers with higher credit scores.
Is My Monthly Income High Enough?
Lenders will require you to hit a certain threshold with your post-tax earnings.
This is often around $1000 per month, but it can be higher.
Can I Fund Procedures By Only Using Cosmetic Loans for Bad Credit?
A loan alone may not cover the plastic surgery procedure. This naturally depends on both the size of the loan and the cost of the procedure.
Common procedures like nose reshaping and facelifts can cost more than $5,000 – the maximum loan limit for some lenders.
This may influence you to look elsewhere for the loan, or to look at alternative methods to finance the surgery.
Other options include:
- Credit cards, both medical and general. Deferring payment via a credit card can give you time to earn more money through work, although the most competitive cards will probably not be available to someone with poor credit.
- A 401k loan. Employers may allow you to draw from a 401k retirement plan, without a credit check or prepayment fees. However, you will lose out on long-term interest gains and will be taxed twice on repayments.
- Plastic surgery payment plans. Some surgeries will offer payment plan options to patients, formed of monthly payments. The plan may not even charge interest on the payments, although failure to meet
- the monthly schedule can have legal ramifications and will worsen your credit score.
In the long-term, the best thing you can do is to work on improving your credit score.
You can do this by ensuring that you make full and regular payments on your outstanding financial commitments.
It can take time for this to boost your credit score, but credit agencies will look kindly upon someone who has consistently fulfilled their payment obligations.
However, those who have struggled to make payments in the past are still able to get plastic surgery loans for bad credit.
If health insurance doesn’t cover your surgery, then take the time to compare the loan services who may be able to help you out.
