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How Can I Finance My Plastic Surgery Procedure Even When I Have Bad Credit?

By Edited Jan 2, 2014 0 0

If you have some kind of plastic surgery procedure that you would love to have carried out, but know that you have a bad credit rating, then it used to be that you would have no chance whatsoever of getting the funding that you require to undergo the operation.

However, this has all changed because finance companies have now realised that this is a massive market for them to tap into so if you would like to know how you can get the money for that procedure, then please do read on.

Credit cards for people with bad credit.
One potential way is to look at getting a credit card that is only for people with a bad credit rating. The interest rates that you will pay on these kinds of cards will vary anywhere between 25% and up to 50% depending upon which one you apply for so it does make sense to shop around. Another reason why you need to shop around is that they will offer you different credit limits, but there are cards out there that will give you a credit limit that is over $1000 so as long as you are only going for something minor and not major reconstructive surgery, then it will certainly help you towards your goal of being able to have that procedure. Getting this type of credit card can take you a couple of weeks and out of the options listed here it is perhaps the one that may lead to you falling short in your target, but it is still worthwhile considering applying for one.

Secured loans with your home for people with bad credit.
Secured loans are perhaps the easiest way to get the funding because the finance companies will be quite happy to give you the money when it is tied against your home as this is going to be a fantastic asset for them to take over should you fail to pay them back. This is also the best way to get the most amount of money as it will depend upon how much your home is worth and what your outstanding mortgage is against it. However, if you need thousands of dollars and have the asset, then this is certainly the approach to take and in regard to the interest rates, then they will be higher than normal secured loans, but they will be lower than other types of funding that are currently out there on the market.

Unsecured personal loans for people with bad credit.
If you do not have the asset to borrow against, then there are still a number of companies out there that will be quite happy to give you the money as long as you are in some form of steady employment and meet all of their qualifying criteria. These types of loans will tend to have an interest rate of anywhere between 12% to well over 20% and some may even approach the 40% mark so as with the credit cards you really should shop around for the best deal. How much you are given will depend upon your own personal circumstances as they will take into account various other expenses you have on a monthly basis in order to determine how likely you are to default on the payments. Do, therefore, look around the market because some companies will offer you three figure sums whilst others can offer you thousands, but it all depends on how much you are earning at this moment in time.

Personal loan with a guarantor.
One type of loan that is actually becoming quite popular is a personal loan where someone with a good credit rating acts as your guarantor. What this then means is that the money is in your name and the monthly repayments are taken from your bank account, but if you miss payments, then your guarantor assumes responsibility for paying the company back and they will take the money out of their account instead of your one. This does mean that the person must really trust you and know that you will not fall back on the payments, but you will tend to find that the interest rates for this type of loan are slightly more favorable than other loans that are on the market.

Use your vehicle to get finance.
Finally, you can also use your vehicle to get the finance and this works along the same lines as the secured loan that was mentioned earlier. The interest rates with this type of loan will be relatively high, but as long as you have your log book, and your car meets their requirements, then getting the funding should not be too difficult. The amount of money you are given to put towards your plastic surgery procedure will depend upon the vehicle itself and you cannot look at the book price in advance and think that is what you will get as it simply does not work like that. Instead, you will only get a fraction of the value, but it will still end up being quite a large sum of money to put towards your operation.

All of the methods mentioned above can be applied for online and you will be told almost instantly if your application has been successful. These methods either use some kind of asset or the companies look at your current situation rather than focusing more on what went on before which led to you now having a bad credit rating. As has been mentioned several times, you really do need to look at a number of companies and compare what they are offering you before signing up and it does help if you know in advance how much your procedure is going to cost so you know what your target figure will be.

So those are ways in which you can finance your plastic surgery procedure even if you do have a bad credit rating. Yes you will pay more in interest rates than those people that have a perfect credit rating, but the main thing is that you now know there are companies out there that will be willing to fund you and it is merely a case of you applying and meeting their criteria to then have the money in your bank account.

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