There Are Options For Financing Your Cosmetic Surgery

By Octavio Herrera Guardiola

I don't need to tell you that cosmetic surgery procedures are not cheap, you already know it, you have probably done some research already, you asked your doctor, Googled it, asked other people who had surgery before, you have seen it on TV, newspapers or magazines, etc.

But there are options out there, you can ask for a personal loan with your bank, you can ask your insurance company if they have special credit programs for cosmetic surgery abroad in the case that your insurance does not cover all of the procedure expenses, and there are also some cosmetic surgery loan companies that could lend you the money you need for the surgery expenditure.

You need to take in mind that a surgery loan is different from a personal loan because there is not a physical good (collateral) that they can claim back if you stop paying your monthly bill, this is called an unsecured loan. In this case the loan companies make extra efforts in assessing your application to determine if you will be able to pay for your loan and they could take several days before approval.

There are a few basic requirements that you may use to evaluate your current standing if you're thinking of applying for a loan, especially if it's for overseas medical treatment. However, if you feel that your qualifications are insufficient to get you approved, you may request someone to act as your co-signer provided that he meets these requirements.

- Be a citizen of the U.S. and a legal resident of the state where they apply;

- Meet any age requirements for personal loans in their state;

- Have two years of established credit, with NO derogatory credit entries (credit accounts in collection, tax liens or civil judgments, delinquencies);

- Have a debt to income ratio, with the new loan, that will not exceed 50%;

- Have total unsecured debt, including the loan amount requested, less than 50% of their gross annual income; and,

- Have less than $15,000 in credit card debt.

- 2 Years consistent employment (same field of business)

- Gross Monthly income of $ 1,500.00

All of this will take also in consideration your credit score, this is calculated based on your credit history and reports. Usually any American with a Social Security number, whether a citizen or not, have three versions of credit reports. Experian, Equifax and TransUnion are the three largest American credit agencies that collect your credit information and provide your credit report or credit profile to your lenders/creditors.

There are many payment schemes being offered by finance companies. Others offer zero- interest rates if you pay within 3 months. Others can give you anywhere between 12 to 60 months to pay for your loan depending on your credit standing. Others have down payment requirements while some don't.

So you are now better informed about the financing options out there that you can use to achieve that procedure you may want.

http://www.colombianplasticsurgery.com the complete information for getting cosmetic surgery in Colombia, find information in procedures, health centers, articles, etc.