Financing Cosmetic Surgery with a Bad Credit Rating

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If you have a bad credit rating and cannot afford to pay for cosmetic surgery upfront, it may seem like you will never get the body that you desire. However, there are some options available to you although these may make your surgery expensive in the long run.

Making sure that your credit rating is accurate

Many companies offer you the chance to view your credit rating free of charge for a short period of time. If such an offer is available to you, it is worth seeing where you are going wrong with your credit rating before applying for finance. Simple things such as updating your record so that all of your previous addresses are available on a credit check can make an improvement to you credit rating. You should also make sure that you are on the electoral roll at your current address as not doing so can have negative effect on your rating.

If there is any false information on your credit history, such as missed payments that you have not miss then you should contact the company providing the information and query this. If all of the information is correct and up to date then there is little that you can do to improve your credit rating over a short period of time.

Options available if your credit rating is poor

Some companies will still offer you financing if you have a poor credit history. As you are seen as a high risk case, the interest rates will be high and you will have less flexibility on the amount that you can borrow. This may mean that you need to save up to cover part of the costs of your surgery and borrow the rest.

There are some high interest credit cards available to you if you have a poor credit rating. The high interest on these makes them far from ideal if you want to borrow the money over a long period of time as you could pay up to 50% on top of what you owe each year. Unless you have a high income, it is also unlikely that you will be able to borrow enough money to fund your surgery on one card meaning that you will have to take out more than one which could make your repayment schedule confusing.

If credit cards do not seem like a good option then it is possible to get a cosmetic surgery loan with a bad credit history. Whilst these are usually subject to passing a credit check, some companies will offer you a loan if you have a guarantor. This is a simple way of borrowing all of the money that you need as long as there is someone you can rely on to guarantee the loan. These loans are also high interest, which means that you should pay them off as quickly as possible but they are the best option if you want cosmetic surgery and have a bad credit rating.

Choosing a loan or credit card

If you have a bad credit rating and have decided that you are willing to pay high interest rates in order to get the surgery that you want, then choosing the right lender can reduce the amount of interest that you will pay. If you already have a surgeon in mind, it is a good idea to talk to them about whether they have a suitable payment plan for your surgery. You should also consider talking to a financial advisor who will be able to advise you on the best loans available for you. If you do not have a surgeon in mind or do not want to pay to see an advisor then you can research interest rates online. If doing this you should consult a wide range of companies who offer loans or credit cards to people with a bad credit history.

A bad credit history need not prevent you from getting the cosmetic surgery that you want. However, you must carefully consider the overall cost of your surgery once you have paid the interest on it as high interest rates could leave you with growing debt that you cannot pay off.

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