Around 10 million plastic surgeries are performed in the United States every year.
Undergoing plastic or cosmetic surgery doesn’t just impact your looks but also your finances. Plastic surgery can bring significant positive changes in your life. It restores and alters your appearance to make you feel better about yourself.
Some popular surgeries include facelifts, breast implants, liposuction, tummy tucks, and nose jobs. However, these procedures can be pricey, and your medical insurance may not cover them.
Also, it is often thought that people with bad credit can’t get approved for loans to cover such treatments. In reality, bad credit doesn’t have to be a hindrance to getting financing for plastic surgery procedures. There are plenty of fast medical financing solutions available. So, you need not wait for months to finance your cosmetic surgery to get the desired appearance.
Take a look at the following options to finance your plastic surgery if you have less-than-perfect or bad credit.
Personal Savings
In most cases, cosmetic surgery is voluntary, so you can take time to save for your required procedure. It is a logical choice to pay from your savings for plastic surgery. However, do not drain the funds you have saved for emergencies.
If you don’t have the money for cosmetic surgery, for now, you can start saving every month until you have the amount you need. One of the most beneficial reasons to use savings to finance your plastic surgery is you will not go into debt. There will be no need to pay monthly installments for the surgery, and you can still pay for it even if you have bad credit.
Borrow From Family or Friends
You always have the option to borrow money from your family or friends if they are able and willing. You can negotiate a fair interest rate with them and set the exact repayment terms you are comfortable with. Furthermore, you get the flexibility to discuss other details, including monthly payments and the payoff date.
It sounds ideal to borrow money from someone, but it may also feel awkward. It brings along the plain old guilt of asking for money from family or friends. Besides, due to any reason, if you can’t pay back the amount, you could put your relationship on the line.
However, it may be one of the only options for people who can’t qualify for other financing options because of bad credit.
Personal Loans
There is another way out for individuals with bad credit to get financing for plastic surgery. A personal loan is unsecured and can be taken for any purpose. It doesn’t require any collateral and comes with a fixed term and interest rate. It means you pay monthly installments on your loan until paid in full.
A personal loan can also be available to those with no credit history or bad credit by some guarantors or consignors. This makes financial help available for individuals to undergo surgery even when other traditional financial institutions deny them the loan because of their negative credit history.
Moreover, personal loans usually come with a low-interest rate compared to other options. So, it’s a cost-effective way to finance your plastic surgery.
Doctor Payment Plans
Although most doctors need full payment before operating, some may work with the patients to create payment plans suited to their budget. The payment plans offered by doctors generally do not include interest. Doctor payment plans are quite flexible. It can be customized to suit each patient’s requirements. Besides, late or missed payments will not appear on your credit report.
But if you fail to pay back your loan, the practice can go to a collection agency, which can affect your relationship with the doctor and also hamper future procedures.
Ensure that you are clear on the payment agreement terms and know that failing to pay the amount can hurt your credit history and the doctor-patient relationship.
Surgery Loans for Bad Credit History
Consider getting surgery loans to finance your plastic surgery procedure. These loans are designed specifically for those denied money by typical lenders because of bad credit.
Surgery loans are quite flexible. It is easier to qualify for a surgery loan even if you have credit management problems or filed for bankruptcy in the past.
Crowdfunding Websites
Besides the good old-fashioned way, crowdfunding websites are available to help people raise money for their procedures without considering credit scores and other factors related to traditional financing options.
You must conduct thorough research and choose a credible crowdfunding website with good reviews. The authentic sites are well-regulated. Its carefully screen, all interactions to keep users’ data safe.
Cosmetic Surgery Financing
Plastic surgery financing may be an option if you do not have any credit history. Loans without credit checks are put together for applicants without credit scores or records. It also includes those individuals who haven’t even earned enough to build a strong credit history.
You can find many cosmetic surgeons who partner with lenders offering no-credit-check loans. One of those financing solution providers is Denefits, helping patients pay for their plastic surgery procedures. Since Denefits doesn’t run any credit checks no matter what, any patient can qualify for a loan when other traditional lenders deny them.
What is Denefits?
Denefits is a complete payments system that helps surgeons provide their patients with various financing options. Financing and payment plans by Denefits enable cosmetic practices to give their patients the financial liberty and flexibility to pay at their own pace. Surgeons can set up payment plans at competitive rates and allow patients to afford surgical procedures despite their bad credit history.
Why Choose Denefits?
- It offers loans without any credit checks.
- Patients do not need a good credit score to get a loan.
- They can get the money instantly to get the treatment.
- Approval is guaranteed.
- Patients don’t need to wait long and can get instant approval.
Denefits helps patients and practices too. Wondering how?
This financing software helps practices make the procedures affordable to their patients while protecting them by taking care of all the formalities. Denefits guarantees payments to the cosmetic surgery practices, so if patients miss a payment, they will still receive the full financed amount.
Conclusion
Getting funding for cosmetic surgery is possible even with bad credit. However, no matter which method you choose to finance your plastic surgery, ensure you conduct thorough research before. Choose an option that best fits your needs and financial situation so you can enjoy the result of the procedure without any regrets.
While considering any financing method for plastic surgery, don’t forget to ask questions. There may be some hidden costs or other significant information that could affect your ability to pay back the loan in the future.
If you are not sure about anything, always ask your surgeon or an expert for advice.
