Question:
Have you had success with medical loans?

What price is good for self pay gastric bypass and what medical loan companies have you had success with? Are there any with low interest rates? All help would be greatly appreciated.    — peaches51 (posted on August 9, 2009)

August 9, 2009
Hi Julie! I self paid for my rny in December of last year. My total came up to just under $24,000. We managed to save $10,000 in cash, I put the anastesia (sp) and part of the hospital on a credit card and paid the $9600 surgeon's fee with Care Credit. I went online to carecredit.com and entered in my information and was approved instantly. We pay 11% interest and I will be paying for 5 years. I believe that they have loan amounts up to $25,000. The only drawback is that your surgeon or hospital has to accept Care Credit as a payment option. Thank goodness mine did. I have heard that some people have had issues with Care Credit, but I haven't. And, once you have it, you can also use it later at participating plastic surgeons, dentists, eye care places and several other medical places. Good luck with everything and I hope that you find a loan that works well for you!
   — sandra-n

August 9, 2009
I know that MY surgeon has a payment plan or financing that is entirely handled by his office, at least for his part of the surgery. He tells you on his website how much it costs for the different surgeries, including the hospital and anesthetist costs. I guess you would have to borrow or finance the hospital costs through your bank or put it on a credit card (which I really don't think is a good idea), or maybe even get a home equity loan or a second mortgage to help pay for the surgery.
   — Erica Alikchihoo

August 9, 2009
I also used Care Credit. My surgery was a little over $23,000. My payments were $575 a month. I really don't remember the exact interest rate I think it was around 11% also. They were a total pain to deal when I paid off the loan. It took about 3 months and many irate phone calls to clear my account. I asked for the payoff which was good for several days, mailed them a check which they cashed at record speed, then they promptly sent me a bill for another $125, then another $35, it was like the never ending loan. Which I guess is what they wanted. It was finally cleared out and paid off. The loan itself was a piece of cake to get I wish I would have done it sooner.
   — ToniLee

August 10, 2009
my credit was not good enough for a loan of that amount. I ended up self paying for my gastric sleeve in the Dominican Republic for like $9995.00 including hospital, anesthesia, and hotel for 5 days after surgery. I have had a great experience. My surgery was on June the 17th and I have lost 57 lbs already...
   — callen3640

August 13, 2009
I did a lapband at $17,000. Took out a medical loan for Capitol One. I pay $465 a month and had no problem getting the loan. I am paying $600 a month as it is a 5 year loan and I want to get it paid off early. Good luck.
   — Cjames3259