TIME TO MAKE A PLAN-Financing the new you

Many people want surgery and they want it now. So they come in for a consultation and get excited about the transformation that will take place, but fail to plan how they will pay for the surgery. Financing your surgery is an excellent option if you want to make payments instead of paying cash up front. There are several companies that provide financing for plastic surgery procedures and many of the companies require no money down and offer a variety of payment plans. However unlike a house or a car it is quite hard for a financing company to repo a tummy tuck or a behind augmentation once you have had surgery, so they tend to be stricter when it comes to lending for these type of procedures and the interest rates tend to be higher.

Before you decide to set-up your consultation appointment you should determine if financing will be an option for you. If you want to increase your chance of getting financed follow these steps:

Step 1-is to know your credit score from ALL 3 CREDIT REPORTING BUREAUS. Make sure you get the scores directly from the credit reporting agencies to ensure accuracy. The fee is minimal and it will save you a lot of heartache and disappointment.

Most of the financing companies require you to have a good credit score. Nowadays that means in the mid to upper 600 range.

Step 2-Your minimum gross monthly income should be at least $2000 a month and it must be verifiable. Cash only income probably means they will not finance you.

Step 3-You should have at least 2 years of established credit history with no open collections, unsatisfied judgments or tax liens showing on your credit report.

Step 4-No bankruptcies in the last 3 years

Step 5-Make sure to include All income that comes into the household and helps pay the bills where it ask for total household income.

Step 6-It usually takes two years for the credit bureau to update your demographic information. Therefore, if you have moved recently let the financing companies know that so that you are not denied because your demographic information does not match up.

If you do not meet the above-listed requirements you may be able to use a co-applicant who does. If you decide to go this route, make sure that co-applicant can get to your Doctor’s office, because most time they will have to present ID and sign the paperwork in person.

Remember to ask how long the approval is good for. Some companies the approval may only be good for as little as 90 days, so make sure you check with the lender.

Most companies will have an answer to you of yea or nay within 48 hours. Good luck and please contact us at 678-205-8400 if you have additional questions.

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