In most countries, hospitalization bills are often paid by universal health care programs by governments or medical insurances that are paid compulsory by employed individuals as part of the company’s policy. This usually handles about 90% of the total hospital bill and some healthcare programs even handle the expenses of medicine required during hospitalization. Being enrolled in a healthcare program or contributing to universal healthcare programs is an advantage, but some healthcare programs or health insurances do not accept cosmetic surgery as part of their services. This may not be good if a medical surgery requires another surgery which involves cosmetic surgery. Right now, this is not a problem due to the fact that there is now a type of loan which specifically answers the financial aspect of a cosmetic surgery.
Cosmetic or plastic surgery loans were designed so that consumers can finance the cosmetic procedures that need to be done. This loan usually shoulders the financial aspect of the different cosmetic procedures such as facelift, breast lifts and augmentation, eyelid, surgery, laser hair removal, facial implants, etc. There are financial firms who do not require collaterals when availing for this loan. Their only way to secure and make profit out of the borrowed amount is to impose a strict repayment term and also a high interest rate. Financial firms who require collateral as a security generally allows a certain amount to be borrowed that is equal in value of the collateral. Interest rate for this type of loan is also not that high as compared to an unsecured loan since there is collateral being offered by the borrower.
The amount that can be borrowed from this type of loan ranges from $1,000 to $25,000 dollars. The maximum amount can also be negotiated if the borrower has a positive credit rating. Interest rates on the other hand range from 5.9% to as high as 19% though this can be negotiated to fit the borrowers capacity to repay the borrowed amount in due time. As for the repayment period, the time to pay back the loan ranges from 1 year to 5 years. Application for this loan is easy because application could be done through the internet and these lending firms have strict confidentiality codes on the information that you provide. Some lending firms would even recommend a cosmetic surgeon that you can consult in relation to your desired procedure. Furthermore, most lending firms do not require a down payment for this type of loan. Individuals who have good credit standing can negotiate terms and amounts that could be borrowed for this type of loan.
From the aforementioned description of this loan, an individual can now afford to have a needed cosmetic surgery without having to worry about the financial aspect of it. Plastic surgery loans were designed so that those who avail this type of loan would not have to worry about their finances as most of the terms of the loan are very flexible.
In summary, a cosmetic surgery loan is:

  • A loan designed to handle the financial aspect of a plastic surgery procedure.
  • Most cosmetic surgery procedure can be shouldered by this type of loan
  • This type of loan can be availed by anyone who desires to have a cosmetic procedure and the loan terms are very flexible.
  • Some lending firms would even recommend very good doctors who can do the procedure that the borrower requires.
Author's Bio: 

Rachel Schwartz is the Marketing Manager of BHM Financial - one of the most trusted names in the bad credit loan industry. This company may be able to help you reach your financial goals. Please visit our Bad Credit Loan website or our Blog and find out today.