Bad credit can make it difficult to obtain loans and may make you think that there are no options left, if you ever needed further financial assistance. Banks and other public institutions, are not really interested in providing finance for bad credit customers, as they think it's too risky. A bad credit history may make it difficult to obtain further loans, but getting a cosmetic surgery loan with a bad credit rating is not impossible.

How to Get Cosmetic Surgery Finance For Poor Credit

There are a number of possible ways to obtain finance for cosmetic surgery for people with poor credit. They are:

    Plastic Surgery Financing Companies: There are a host of financing companies out there, that are willing to give cosmetic surgery financing and will be willing to give you credit loans, but the catch is that they give these loans at a higher interest rate. Thus, you will essentially be paying a lot more than you normally would have.
    Installment Payment Options: Due to the popularity of plastic surgery, nowadays, a lot of plastic surgeons have tied up with financial institutions, to offer you the option of paying your surgery bills in installments. They only require a down payment at first to begin with the surgery and the rest can be paid over time, obviously, with interest. The interest rates can be quite high here as well.

    Secured Personal Loans: Though banks will not give you a loan on bad credit, you could get a secured personal loan from the banks, by providing some security on the payment that the banks make to you. This is a lot easier to get when compared to unsecured loans, which needs you to have a good credit rating. It is the riskiest option though and if you are unable to pay the amount, then your house or assets that you have provided as security will be taken by the bank, in lieu of the loan. This should be your last option and be used only if you need some serious reconstructive surgery only.

Things to Remember While Applying for the Loan

If you have decided to apply to one of the many financing companies, offering cosmetic surgery financing for bad credit, make sure you apply to only one. Compare and review their interest rates and repayment options before you do this, and pick only one that is best for you. If you apply to more than one finance company and your application gets rejected, your credit rating will just get worse. Give clear and transparent details and don't leave out any information. Include all your income sources, and use it to help build up the strength of your application. If you hold a joint account, you could apply jointly for the loan with your spouse or family members, thus adding more weight to your application. Give proper address and contact details. Do calculate how much the loan will cost you with the interest, and make a plan on how you are going to save and repay the loan in the future. Planning will ensure you don't cause anymore damage to your already bad credit rating. Look for safe investment options and ways to improve your financial health.

If you have a poor credit rating, you definitely shouldn't consider cosmetic surgery unless you are quite sure you can repay the loan or need some major reconstructive work done. If it is just to increase your self-esteem and for looking a tad younger or better, then I suggest you wait it out until you have improved your credit rating. If you think that the interest rates being asked are too high or you are still unable to get finance, it's better to wait a year, and try improving your credit rating before you apply for your loan. A good credit rating will actually get you loans at a cheaper rate of interest thus saving you a lot of money.


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