PS Financing

I read someon's post regarding PS decisions and financing.  I know nothing about what types of financing are available for PS (terms & interest rates, etc.), how many companies are out there, and is there a max amount they loan.  I also wonder if, for the most part, most PS offer financing through the same few companies?  Does anyone know?

The hospital that did my bariatric surgery, and that I will be getting the PS done at, has a no interest financing program for post-bariatric patients.  The plastic surgeon specializes in post bariatric.  I have to put down 10%, then monthly payment for 12 months.

There is also care credit, and a couple others out there.

That is a great benefit they offer.  Thanks for the info.

Dommie,

Was the progam based on credit or no?

 This is what I learned - in my area use Care Credit.  But here's the catch - they had different amounts they offered to finance and different lengths of time for the loan.  I had just figured they all offtered the same package from the finance company.

Since I had been trying to save up for quite a while - I took the Office Manager's suggestion and opened up a credit card that offered something "back" - cash back, airline miles, etc.  That way I at least got something back.  I split it up into several charges and payments so I paid off the amount each month and incurred no additional interest charges.  When I had to have my revision in December, I did the same thing.

Good Luck!
Gracie150

That was a really smart idea.  I'm trying to figure out what to do.

Anna,

I think alot of folks use Care Credit. They offer 0% APR loans up to 12 mos.. and many other payment plans. Also, some PS offer their own Payment plans too!  I had to save up 4k of my own cash, my family also donated 4k, and the rest on Care Credit 0% APR for 12 mos.

What I ended up doing before surgery was eliminating all my stupid/excessive monthly bills. I opted to eliminate a few luxuries. I ended up saving $200 in  monthly bills. I called my cell phone, home security service, cable, and internet service and lowered my bills to basic services. I also, suspended my gym membership, home phone line, It was like giving myself a "raise".

So, although my financed PS is $750 per month, its really just a difference of $550 because I eliminated $200 worth of bills per month I had been paying for all along. 

Michelle  

Thanks Michelle...That helps a lot.  I am trying to figure out what to do.  We have 2 payments remaining on our truck note.  We pay it off next month, and that payment is $711.  In fact...if you hear a whoop coming from Texas, it is because we made that last payment.  As much as I would hate to devote one more year to that amount, I could easily do it.  I also thought about taking a 401K loan, then maybe making a cash payment as well.  The 0% APR is amazing.  Do they send the check directly the the Doctor?  I'm going to go to their website.  Thanks so much.

Anna,

They pay the PS in full and you pay them. 0% APR is definitely awesome. I also set it up for automatic payment to be deducted from my checking.. so no mailing checks, late fees etc..
 
Good luck on the financing !!

Michelle

You can also check lendingclub.com. It's a peer to peer lending plan where people pitch in to loan you money instead of a normal bank loan. You might have ten people who finance you, or you might have 50. We have used them twice over the years, and they are a good place to get a quick loan. You apply, and then they list your loan request. It takes one to three days to get fully funded, and about two days for the cash to show up in your bank account. They finance all credit score tiers. You can pay it off early, too.

Just one more option in case you've never heard of them. Don't do the "medical loan", though. I think the interest is higher. They don't really care what you are going to use the money for. You can go on their site (it's a little tough to navigate) before applying, and read through some of the loan requests to get an idea of what goes on there. I think you have to click on the link that says you are interested in lending (not borrowing) to view the current loan requests, but it's been a while since I've been on there so I'm not sure. Oh, if you do take out a loan, you have to fax them some ID and a paycheck stub, I think. It's super easy, and really fast. I like it better than a bank loan.