Depending on the procedure, plastic surgery's average cost is between $500 and $10,000. In addition to paying the surgeon, there are other costs associated with the surgery, such as the price of anesthesia and fees to use the hospital facilities. Because cosmetic surgery is elective, few, if any, health insurance companies will help offset these costs, putting the entire financial burden upon the recipient. Some people choose to apply for loans to help afford the costs. Does this Spark an idea?
Instructions
1. Pull a free credit report online. Consumers are entitled to one free credit report per year.
2. Evaluate the report and determine the strength of the credit score. Typically, anything over 700 is considered excellent credit.
3. Call local banks to inquire about their personal loan rates. If your credit score is excellent, the best financing method would be to obtain a personal loan, as they typically have quicker turn-around time and fewer fees and do not require placing liens against personal property. Once a bank is obtained, skip to Step 7.
4. Review possessions of value to determine what can be used for collateral if the credit report reveals an average credit score, which typically is between 640 and 700. The best options are a CD or investment product or a home.
5. Call local banks to inquire about their conditions for investment or real estate secured loans. Obtain their rates and any fees.
6. Consider holding off on the surgery if the credit score is below 640 until the credit score can be improved. Consider contacting a credit counselor for assistance.
7. Compare the rates received from various banks. Contact the bank with the lowest rate and proceed with an application.
