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Loan Approved but Now Doctor Doesn't Want to Pay the Fees - Options?

asked 1 year ago by Mzjackie05 in Austin, tx
Latest answer by George Lefkovits, MD
Question viewed 260 times
Tags: credit, fees, financing, plastic surgeon

I was approved for a loan, and actually scheduled for a breast augmentation surgery on may 25th (next week) in Dallas, tx. But now my doctor apparently doesn't want to do business with the loan company bc of the 10% interest. I offered to pay the fees for him in cash, now I'm just waiting to hear back from him. If he doesn't take it, what other doctor will? Seems like a lot of doctors in the Austin area don't work with mymedicalloan anymore. Any doctor recommendations?

6 answers to Loan Approved but Now Doctor Doesn't Want to Pay the Fees - Options?

+2

Loan for surgery

He/she may not want to do business with the loan company not only because of the high fee that would be discounted to the doctor, but also because this company charges a fee to the doctor to be signed up with them!  Addionally, the doctor signs a statement that they will not charge the patient anything over what the loan is for, so he/she cannot legally accept the 10% cash from you.  There are other funding companies available that are much more trusworthy, try other options before... more
Amy T. Bandy, DO

Newport Beach Plastic Surgeon

www.drbandy.com

+2

Problem financing surgery

While I am not familiar with the loan company you mentioned, there are at least two issues I have encountered with medical loan companies.  One is the processing fee charged to the surgeon (which can be significantly higher than fees charged by traditional credit card companies), and the second is the potential for the medical loan company to request repayment back from the surgeon if the patient doesn't repay the loan. If your surgeon agrees to accept your offer to pay the... more
Craig S. Rock, MD

Houston Plastic Surgeon
+2

Loan Approved but Now Doctor Doesn't Want to Pay the Fees - Options?

This is a very concerning issue in cosmetic plastic surgery. From the patients standpoint, they obtain a credit/loan from a medical business company. In the patient's eyes thing are cut and simple. Unfortunately most of "these" medical loan companies charge the surgeon a "processing fee", of around 10 to 14% (so on a $5,000 fee the processing fee is around $500 to $750 taken off the reimbursement to the surgeon). Others charge these fees to the patient in an... more
Darryl J. Blinski, MD

Miami Plastic Surgeon
+1

Breast augmentation financing

Today many patients are in need of financing of their cosmetic procedures. It is much easier to pay a few hundred dollars a month then to have to "shell" out thousands of dollars. There are several financing companies with different criteria for approval. What I am surprised by is you having booked your surgery with the doctor and him knowing that you are financing with your particular financing company, and then having your doctor cancel the surgery. I suggest that you either... more
George Lefkovits, MD

New York Plastic Surgeon
+1

Financial companies

There are many different financial companies out there that charge all sorts of fees.  Talk with the doctor maybe you can work something out with him.
Steven Wallach, MD

Manhattan Plastic Surgeon
+1

Financing plastic surgey

About 10 years ago a number of shady medical loan companies appeared with a lot advertising on late night television. Most were schemes designed to defraud the doctors and rob the patients. Some would make the doctor discount the procedure and/or take money off the top of the loan so if for example the loan was for $5000 they would keep the initial 5 to 15% give the remainder to the doctor but still expect to receive full payment from the patient. Their screening processes were shaky so many... more
Aaron Stone, MD

Los Angeles Plastic Surgeon

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