How to Get a Personal Loan to Repair Your Car

When it comes to frustrating events, car trouble ranks somewhere around the top of my list. It is always unexpected – especially if you do not know enough about vehicles to easily feel or hear a change in performance. Not being able to get around when you need to is a horrible feeling, and you want to do anything to change it, even if it means going into debt and getting a loan to repair your car. That should be the last resort though not the first choice. Let’s look at some questions you need to ask yourself before getting a loan.

Before Getting a Loan to Repair Your Car

It may be tempting to jump up and decide to get a loan so you can get your car fixed quickly, but is it really necessary? Do you have some savings you could dip into instead? Will a family member pay for it and let you pay them back in payments? Getting a loan to repair your car is a big deal. It is a financial responsibility that has the potential to mess up your future if it is not handled correctly. So before you choose to take on this responsibility, be sure that it is your only option in paying for repairs.

Average car repair cost

New batteries or other minor issues probably will not cost much at all. Small purchases such as these should be easily covered with a paycheck or credit card, if you have one. More serious issues will cost much more. In this case, getting a loan to repair your car might be necessary.

Is It Worth the Cost of Fixing It?

Be honest with yourself: is it worth the amount it will cost to fix it? If it is a used car that needs thousands of dollars worth of work, it might be better to count your losses and start working toward a new car, instead. This is obviously a personal decision but try to be logical when making it. If you do not know the value of your car, you can find out through the Kelly Blue Book or something like Carfax.

The vin number should give you all of the information you need about your car. If the value is less than the repair costs, unless you are keeping the car for sentimental reasons, your best bet is to get a new one.

If you determined that the cost of repair is worth it, but too high to cover it on your own, then a loan might be a good option for you. Here’s the next step.

Where to Get a Loan to Repair Your Car?

If you have decided your only option is to get a personal loan to repair your car, that’s okay. You are not the first, and you most certainly will not be the last. What is important now is that you find a loan with terms and interest rates that you can easily handle- if at all possible. To do so, you most likely need to emergency repair loan shop.

While you can drive around town- if your car is still driveable- and physically apply in person at multiple places, I cannot imagine a better time to shop online for loans than when your car is in questionable condition. Instead, let Loanry simplify the process. You can find a lender on our site from your couch in your PJs. We do not lend the money ourselves but instead, you find a lender without the hassle.

Types of Loans for Auto Repair

Once you have exhausted every other avenue you can think of, you might only be left with the option of getting a loan to repair your car. If that is the case, you need to know what types are available and which ones to steer clear from.

There are loans known as emergency repair loans. This simply means that the lender tries to process your application faster, often as fast as the next day. Thanks to the fast application and processing times, you might get charged a higher interest rate than you would with another type of loan.

I am sure you have heard of them, and yes, payday loans are an option. If you choose a payday loan though, there are a couple of things you need to understand. Most first time payday loan borrowers do not get approved for more than $150, so this probably will not help you much if the cost of your repairs exceeds that amount. Also, these interest rates are very high, so if you must take out a payday loan, pay it back asap.

Title loans are also available, but may not be viable if your car is broken down. Most title loan companies- those that you walk into, anyway- take pictures of your car as part of the application process. If you cannot drive your car, they will likely not approve you.
With online title loans, the requirements may be different but that will depend on the lender. If you do get approved for a title loan, pay it back as quickly as you can, and definitely pay more than the monthly payment. Being committed to a title loan for three years is not something anyone wants to do.

I tend to be much more partial toward personal cash loans than any other type of loans. The interest is usually much lower and figured into the payment. You get a longer time frame to pay it off. Generally speaking, they just seem much fairer to borrowers than many other loans- especially payday loans and title loans.

Personal loans are designed for long term borrowers. And, unlike title loans-which actually fit the category of short term loan– the monthly payment includes the principle, so it is possibly to actually pay them off without have to eat Ramen noodles and crackers for years to come. If you apply for a personal loan to repair your car and are approved, you receive the loan amount all at once.

If any fees are associated with the loan, such as origination fees, they are usually subtracted from the amount you borrow. The total amount you owe, including fixed interest, is then spread out into monthly payments for the extent of the repayment term. So what exactly are the benefits of getting this repair loan to fix your car?

A personal line of credit is another fair option, but it works a little differently. With a personal loan, you are given the entire amount upfront, minus any fees. With a personal line of credit, you are approved for a certain amount which is then put it something similar to a savings account. The full amount is available to you if you need it, but you do not have to borrow it all. The interest is only calculated according to how much you have taken out.

Perhaps you withdrew $300 from your $1000 credit line for the tune-up and tires. With the extra work, you might need another $300 or so. No problem, just head back to the bank or your other financial lender and withdraw the extra $300. You can continue to withdraw more money until you reach your credit limit- in this case, that is the $1000. Lines of credit are very helpful when you are unsure of the amount you actually need.

Another type of loan to repair your car is a secured loan. A secured loan is not necessarily separate from the other loans mentioned. It may just be an additional characteristic, and it just means that the lender needs you to put up some collateral to ease the risk they are taking. Most often, those with low credit scores or unfavorable financial conditions are the ones that need collateral.

Both payday loans and title loans are secured loans, but there are definitely some with less harsh terms. Some financial institutions will use your title as collateral without it being a traditional title loan. The loan itself is actually an installment loan. Your title is just in the financial institution’s hands until you repay the loan. The interest rates with secured loans are often much lower.

Other than vehicles, lenders consider collateral such as real estate property, valuable electronics and jewelry, and even certain types of investments or bank accounts. Lenders have their own guidelines about what they will accept, but the bottom line is that if you default on the loan, they can sell your collateral to recoup their losses.

Why Get a Personal Loan to Repair Your Car

In my opinion, the biggest benefits are the simplicity, the clarity, and that they are designed to be paid off- not keep you in an endless loop of debt. Let’s say you get a $1,000 personal loan to repair your car. The money is then in your possession and you head off to the mechanics shop. The lender gave you a contract that explained exactly how much your monthly payments will be and how long you will pay on it.

The bill for your repairs is only $400, so you have $600 left of the loan for auto repairs. So what do you do? We are going to ignore the temptation to spend for a minute and think about this. There are a few wise options for this extra cash.

One is that you ask the mechanic to go ahead and fix another issue that you know needs to be taken care of soon.

You can also place the $600 in a savings account with intentions of using it to make your monthly payments. That means it is also there if you need it again. You never know what might pop up next.

Finally, you might pay off another monthly bill whose interest is hurting you. We will use a credit card with a $500 balance for example. The interest is 25% and that is more than you can handle paying on a regular basis, so the balance grows. If you use the additional $600 to pay off that credit card, you are helping yourself in two big ways: you are getting the credit card off of your credit and you are making it easier to repay the personal loan to repair your car. Regardless of how you use it, your monthly payment and terms remain the same.

Car on the road

Steps for the Future

As much as I wish it were, it is just not possible to prevent all future car issues. You cannot control a nail in the road, you cannot control the weather, and you definitely cannot control how other people drive. So it is safe to assume that you will experience more car trouble at a later time. What you can do is minimize your chances of car trouble and decrease the impact it has on your life by doing regular maintenance and creating an emergency fund for these types of situations.


When you are met with the inevitable headache of car trouble and need some type of repairs, you have a few options. Though a personal loan to repair your car is an option, do not make this decision lightly. Be ready to commit to the loan until it is fully repaid. And, of course, apply only through trusted lenders to prevent any additional headaches, like scams and identity theft. Be wise and diligent in all of your financial decisions.


Credit for Medical Procedures: Meet Dr. Credit

Your health should always be your number one priority. If you don’t have your health, you can’t have anything else. You can collect possessions every day for the rest of your life, but if you have neglected your health, you won’t be able to enjoy them.

If you live in the United States, taking care of your health and your family’s health comes at a price. Even if you have insurance, there are always costs that need to be paid. You have to pay deductibles and visits. Plus other kinds of expenses that are specifically not covered by insurance. Unless you’re lucky, you either don’t have vision and dental insurance, or your vision and dental insurance don’t cover very much.

This means that most people need to have the ability to pay for medical expenses. At least somewhat. Credit for medical procedures is a solution used by many to take care of those necessary medical expenses.

What Kind of Loans Can Be Used for Medical Bills?

There are a lot of ways to get a loan for medical bills. What kind you choose and what terms you may be eligible for depend on many factors. You should evaluate your options before making a decision. This way you know you are getting the best deal and you can live comfortably with the terms of your loan.

Unsecured Medical Loans

Unsecured medical loans are loans which are basically based just on your promise to pay the money back. This kind of loan depends on the level of trust between the lender and the borrower. It can have a higher interest than some other kinds of loans.

Secured Medical Loans

Secured loans are usually associated with mortgages. It means that the house or the car is used as collateral. When you use collateral for a loan, that means the collateral can be taken by the lender if you don’t make good and pay off your loan. Lenders usually protect their collateral by requiring borrowers to keep insurance on their collateral such as property or auto insurance. With secured medical loans, you may be allowed to use your home, vehicle, or stocks and bonds as collateral. This aim is just to back your promise to pay. A home equity loan is an example of a secured loan which you could use to pay for medical expenses. Or basically anything else you need the money for.

This can cause unnecessary stress and risk. Indeed if you are not able to perform to the terms of your loan, the lender may take your property as compensation.

Credit Card

This is a way people use out of impulse because credit cards are regularly offered to people regardless of their need to use them. When there is an emergency such as a medical need, people get out their credit cards and take care of the problem quickly. More often than not without considering the implications of the action. If you put a large amount of money on your credit card, you may find that it takes you a long time to pay it back. Then you will be paying the high interest rate associated with using a credit card. The bank that offered you the credit card will be glad you are paying them more money. They will then be unlikely to change the terms of your agreement because you needed the money for an emergency.

Medical Credit

There are some lenders that offer special credit. Either medical credit or medical credit cards, so their customers can pay off medical related expenses. The initial transaction will usually come with a special offer. It can be an offer of no interest if paid off within a specified amount of time. If you don’t pay off the total in time, though, you could end up with higher fees. Plus if you aren’t paying attention or if you didn’t read the terms of the agreement carefully, you could be very unpleasantly surprised.

401(k) Loans

If you have access to a 401(k), you may be able to borrow money to pay for emergency medical expenses. Of course you will need to pay it back. There might be other fees associated with using the money before you are supposed to access it.

Marketplace Loans

There are lenders you can find online who specifically want to help people who may not qualify for other kinds of loans. There is so much competition in that area right now that the rates aren’t as bad as they should be, especially considering the loans are generally unsecured loans which are often offered to people who may not be eligible for other loans.

Smart Money Tip!

Medical procedures and all of the cost that come with them are one of the unfortunate facts of life. Some of these procedures are elective and therefore aren’t covered by insurance. There are options available to finance your procedures, but make sure you can pay it off on time. The last thing you want is to deal with your health and debt at the same time.

Applying for a Medical Loan

If you decide to use a loan for medical bills, you don’t have to do all the heavy lifting yourself. There are places which will help find a lender, and they have the resources and information to find the best rates you may be eligible for. Every time you put your information into an online loan application, the information is recorded on your credit history that you have applied for a loan. By using a company that runs your application through several sources, you avoid looking like you are applying at several places.We can search specialized lenders that are looking for customers like you and may be willing to offer better rates than you could get anywhere else.

You can also avoid predatory lenders, companies that try to take advantage of people who need help but who don’t have perfect credit. They offer unnecessarily strict terms which aren’t even always spelled out clearly up front. If you end up getting taken in by a predatory lender, you may never be able to pay off the loan and get out of debt forever. The extra interest on your loan will keep you from being able to pay off the loan entirely, and you will be building up new issues and encountering new emergencies in the process of living. Even with all the rules in place, predatory lenders play fast and loose with the rules and try to take whatever advantage they can when they know people feel they have no other choice.

Uses for a Medical Loan

There are many reasons to use a medical loan, all based on your personal situation and needs. Emergency cash loans and other medical loans are available for people who need them. Here are some of the ways people use medical loans:

Dental Work

As stated earlier, most people don’t have dental insurance. Unless it is offered through their employer. You can buy a separate dental plan if you have medical insurance most of the time. However the dental insurance most commonly offered only allows for a minor amount of dental work. It doesn’t always translate to what people really need. All of us have dental needs. Plus it is better for everyone to be able to at least get regular cleaning and exams. If you don’t have insurance, you probably wait until you are having a medical emergency before you call the dentist for help.

If you are like most of us, you put it off as long as possible when you don’t have insurance. Which only makes it worse. Procedures like implants, root canals and other kinds of dental surgery are often not covered. – Or are not completely covered. You might be able to get the dentist to work with you or find other kinds of financing. However if you are having difficulty finding a way to get the procedure done, taking advantage of credit for medical procedures can get you the help you need. This way you don’t have to suffer anymore.

Cosmetic procedures

They are almost never covered under regular medical insurance. Most traditional policies only make exceptions if the cosmetic procedure also fulfills a medical need. Some reconstructive surgeries are considered medically necessary after weight loss. But for the most part, you will be stuck paying all or at least some of any cosmetic procedures you need to have done. You may know beforehand that you will be interested in this kind of procedure and already have a savings account, but most people don’t have the ready resources to pay for the surgery on their own.

You should never skimp and use a shady cosmetic surgeon, as the surgery can be just as dangerous as any other kind of surgery and you should have the best medical care possible. Credit cards and medical credit can end up being too expensive, but using a personal loan to get credit for medical procedures can give you a way to comfortably pay for your cosmetic procedure.

Weight Loss Surgery

Many people are turning to weight loss surgery to finally achieve a healthy weight and achieve their other health ambitions. Unfortunately, many insurance companies do not cover all the procedures. Which seems counterintuitive considering how much healthier you can be after taking advantage of the procedure. You can avoid longterm issues like cardiovascular disease, diabetes, and stroke by getting to a healthy weight where you can start exercising and living your best life. You should find out first what your insurance is willing to pay for. But if they don’t cover everything, you can go ahead and take the plunge yourself. Then use loan for weight loss to get the procedure and start losing weight now.

Hearing loss

This is another important medical need most people don’t have the proper insurance for.  When you suffer from hearing loss, your whole quality of life suffers. It can be very expensive to find the right hearing aid to replace the hearing you lost because of injury or disease. Unless the problem occurred because of a work injury, you are on your own as far as making sure you get the help you need. You can borrow against your home or use a credit card. However one is risky and the other is expensive. Credit for medical procedures provides a convenient way to get the money.

Lasik and other kinds of eye surgery

Those eye surgeries are becoming more and more common as the procedures become safer and more refined. There are usually other ways to correct your vision. Among which contact lenses or glasses. That’s why vision insurance often only covers a portion of the expenses. You can get more help with an account where you can put aside the money before it’s taxed. This especially if your employer offers flexible spending accounts that can be used for Lasik. But the procedure usually costs thousands of dollars. Plus it could take a long time to save enough to cover the procedure. You can use a loan for eye care  to get the money faster.

Chiropractic Treatments

Especially if you have been through a physically traumatic event, like a car accident, you may want to have the money to pay for chiropractic treatments. Those aren’t usually covered by regular medical insurance. However many people believe they are the only way to find relief from their pain and suffering. Chiropractors usually charge at the time of service. Why? Because they know the treatments won’t be covered by insurance so you won’t be able to get the relief you need. Unless you have the cash handy. Even when chiropractic treatments are covered, the coverage is usually limited. You will still need to get extra help paying for chiropractic treatments.

Emergency and Urgent Care

You can use credit for medical procedures to finance emergency and urgent care visits. Nobody plans an emergency. And you can’t wait for help if your appendix is about to burst or if you have a broken bone. The medical facility treating you might not demand the cash up front but it will send you a bill. And this, as soon as it is processed through insurance.

You can set up payment plans if they let you. However they might demand payment faster than you are able to pay. You can’t feel bad about taking advantage of the emergency services that gave you the help you needed. But you don’t want to deal with the stress of dealing with the hospital or urgent care facility for months or years down the road. Emergency cash loans can help you deal with the problem once and for all, leaving you with a loan you can pay off at your leisure.

Consolidate Existing Medical Loans

Many people use medical finance to consolidate their already existing medical loans. If you’re like most people, it never seems to rain but it pours, and you find that your bills have stacked up one small emergency at a time. You may have one bill for a dental cleaning, one for a blood test, and another for another medical procedure. You can take out a loan for medical bills and end up with one loan which has a small enough monthly payment that you can feel comfortable paying your other bills.

Find a Lender to Get the Help You Need – Bad Credit Ok

Your Prescription to a Medical Loan for Bad Credit

It’s not something you should have to think about anyway when it comes to your health, but your credit doesn’t matter when it comes to getting a loan for medical bills. You can apply online no matter what you have done in the past, and even if you don’t have any credit history to speak of.

Most people will qualify for credit for medical procedures so that they can take care of their medical needs and pay back the loan at a rate that is comfortable for them and doesn’t interfere with the rest of their lives. You can get medical loans for bad credit and medical loans for no credit.

Perhaps you may be thinking that sounds crazy; you may have even tried to get a loan before and been turned down. Most loans, like mortgages or new car loans, will require you to be able to pass a credit check in order to qualify, and many will even require you to have collateral to back up your promise to pay. The better your credit, the better the terms on your loan, too. You may have seen offers for loans in ads which allow borrowers to take out money with very low interest rates and really great terms. Luckily, these kinds of loans are able to check with other lenders who have special procedures that allow people with bad credit or no credit to get loans for medical procedures.


When you need to take care of your health, you shouldn’t wait or put it off. Health problems only get worse if you wait until later to get treatment. We can help you figure out how much money you need and help you find a lender that might give you the means to take care of your health problems by using credit for medical procedures today.


Personal Medical Loans to Help Get You Back on Your Feet

Personal Medical Loans

Many people, no matter their age or economic status have trouble paying their medical bills. This has become such a large issue, that Congress has recently proposed a bill, titled the STOP Surprise Medical Bills Act. This bill addresses one of the primary reasons Americans are struggling financially because of medical bills. The STOP Surprise Medical Bills Act would save patients from paying surprise medical bills.

Those being outrageously high just because they are out of network. When someone is put into an emergency situation, they shouldn’t have to worry about whether or not the hospital they are brought to is in or out of network. This bill also proposes taking patients out from the middle of payment negotiations.

Whether or not this bill eventually becomes a law, there are many other reasons why the average person will need financing for medical care. The unfortunate truth is that they may be burdened by medical bills that they simply cannot afford. If you are currently in this situation, then you are probably looking for different options to help you through this financial struggle.

Personal Loan for Medical Use

A personal loan could help you pay off your medical bills. There are certain personal loans made just for people in your position. If you need money fast for medical reasons, emergency medical loans or a loan for medical bills could be a good option. Though you will get the money quickly, don’t forget that when you get a medical loan, you will have to pay back interest later. Look at the different options for loans. Then always make sure you understand the terms and conditions for whatever you sign. We have some options below which you should definitely consider.

Emergency Medical Loan Options

Whether you are choosing to have an elective medical procedure or are rushed into an emergency medical procedure, there are many reasons to use a medical loan. Just as there are a multitude of reasons to use a loan for medical bills, there are also a multitude of types of emergency medical loan options. Below are some of the most common types of loans that you may come across:

Unsecured Medical Loan

An unsecured loan, otherwise known as a personal loan. It is the type of loan that lending institutions do not require a call for collateral. In order to get this type of loan, one generally must have built up trust with a bank. Which means they have fairly good credit. The better your credit, the better your chance of getting a lower interest rate.

Secured Medical Loan

A secured loan is the type of loan that lending institutions do require a call for collateral. Items that are generally put up for collateral are items of high value, such as your house or car. In some cases, banks will take other highly valuable items as collateral, but this is not likely. It is important to be timely with your payments on secured medical loans. Indeed not paying can have huge consequences — losing your home or car.

In House Medical Loan

An in house loan, or “in house medical card,” is a type of repayment plan where you make an agreement with the hospital to pay your bills within an agreed period of time. This is not necessarily a cheaper option. Indeed this type of loan generally has a higher interested and overall much higher price than what you would have paid up front. However if you need extra time to pay your bill, this is an option you should look into. Make sure you read the terms and conditions carefully though. As many of these loans still include some undefined fine print that could cost you a lot more in the long run.

Credit Card Loan

Sometimes you may be able to get out of getting an established loan in order to pay for your medical expenses. You may be able to use your regular credit card. It it important that you know the terms and conditions applied to your credit card. Emergencies — even medical emergencies — will not allow you to get special treatment for going over your established terms and limits.

Medical Credit Card Loan

Medical Credit Card: Swipe Here for Health

Certain financial institutions offer credit cards that were designed just to help people like you pay off their medical debt. If you apply and are eligible for a medical credit card, you may be able to take advantage of a substantially lower APR. Make sure you pay off your medical credit card on time though. If you do not pay off the total amount by the end of the grace period, you may be stuck with paying off a lot of interest. Which may be charged from the first day you used the medical credit card.

Going Through a Marketplace Lender

There are a variety of marketplace lenders online. All of these online martketplace lenders are in direct competition with each other. They are competing for the business of people who need medical funding. Because of this, going through a marketplace lender may allow you to be able to get a better deal on a loan.

Home Equity Loan

A home equity loan, otherwise known as “HELOC” or “second mortgage,” is a type of secured loan. This type of loan, though it allows for more overall leverage, requires you to put your place of residence up for collateral. It means that if you, for any reason, cannot pay back part of your loan, you may be in risk of foreclosure.

401(k) Loan

Though it is not always possible, you may be able to access the 401(k) account that your employer keeps for you. This is only possible in extreme situations for emergency purposes. The upside of a 401(k) loan is that you will not need a credit check to obtain this loan. Plus you will not be required to pay interest. You will have to pay back the full amount of the loan though.

How to Get a Medical Loan

Finding personal medical loans can be easy. In fact, you can get a personal loan in 3 simple steps. Here are some tips to keep in mind when searching for the right personal medical loans for you:

Your Credit Score

Many people believe that without a great credit score, it is impossible to get a loan. This is a myth. However, it can be more difficult. Besides being easier to get a loan with a better credit score, you will also have better interest rates if you have a better credit score. The first step before applying for a loan is to find out what your credit score is.  This way you can set more realistic expectations for your loan search. You can find your credit score for free online.

Interest Rate

Though the interest rate you are offered depends in part by what your credit score is, you can still negotiate for a better interest than what is originally offered. Do not accept an interest rate that you cannot afford to accept. You will have to repay your loan, and you do not want to get into financial trouble during repayment. Also make sure to check if the interest rate is fixed or variable, so you have a best possible estimate for how much you will have to pay back. Work with your lender on a rate that works for you both, and if it does not work for you, then find a new lender.

Repayment Period

The repayment period is just as important as the interest and repayment price. Some lenders will offer long-term repayment periods, while some will want you to repay the loan in a shorter time frame. Others do not even allow you to pay off the loan early, since they do not want to lose out on the interest they would make. Some lenders, on the other hand, give borrowers a few months before they have to pay anything — including interest — back. Make sure that the timeline set up is realistic for your financial situation.

Loan Amount

Try to calculate, to the best of your ability, what the total of your medical expenses will be. It does not make sense to take out any more than you actually need, since you will have to repay it all back, with interest later. If you are taking out a personal medical loan in order to pay as much of your medical expenses in advance as possible in order to negotiate overall lower medical expenses, then try to calculate how much you should need in advance. Make sure to ask your lender about any possible origination costs, which are a one-time fee that you need to pay the lender in order to process your loan.


You know how much money you typically earn per month at your current job. Consider your current financial position, and make sure that the terms and conditions for the repayment of your loan fall in line with your current budget.

Medical Loans for Bad Credit

Even if you have bad credit, you can still get personal medical loans. You will probably have a higher interest rate, but you will still be able to get the help you need. Besides being able to get medical loans for bad credit, it is also possible to get medical loans with no credit check. Below are a few of the loan options you can get without completing any credit check:

Payday Loans

Payday loans is a small, short-term unsecured loan that depends on your income. The amount you can get is based on a percentage of your income. While you can often get money quickly with this method, you are also limited by how high (or low) your income is.

Local Finance Lenders

Local finance lenders, such as banks, will sometimes give quick loans to locals. Though this can seem nice, they are doing it to take advantage of people who need money fast. Potential customers will just get a check in the mail with terms and conditions attached, which are assumed to be accepted if the check is deposited. Make sure you read the terms and conditions carefully, so that you do not get put into a bad situation if you cannot afford the requirements.

Title Loan Lenders

Title loan lenders give personal secured loans against car titles. There will be a valuation of your car, and you will be provided with a fraction of the total evaluation value. If you have any other assets that that have ownership documentation that is verifiable during a sale, then these items will also be taken into consideration and you can get cash against them.

What Are Your Other Options?

When you first get this large medical bill in the mail, your mind might be spinning. Take a deep breath, and look over this list of your options. No option may seem full-proof. However there will be pros and cons to each. There is not just one simple answer for how to deal with medical finance issues. Here are just a few ideas for you to consider:

Your Savings

Many people try to save up some of their income each month. This being just in case of an emergency. An emergency could arise from a sudden house repair issue, a sudden car issue or from surprise medical bills. If you have some money in your savings account, this could help lighten the financial burden of an emergency medical concern.

Borrow from a Relative or Close Friend

The common saying about not lending money to friends was created for good reasons. This should certainly not be your first go-to solution. However it could be a good choice for you if need be. Borrowing from a friend or relative means that you (probably) will not have to pay back interest. However be wary of how this could affect your current relationship.


There are fundraisers all over social media. A college student needs help raising money going on a semester abroad. Someone lost everything during a natural disaster and needs financial help to put their life back in order. If you are in need of money for medical expenses, this could be an option for you. The downside is that you may not be comfortable sharing your medical story online. In this case, keep in mind this could also lead to emotional support. On top of financial support.

Medical Expense Deduction

A medical expense deduction will decrease your overall medical expenses. However the downside is that you do have to pay the entirety of your medical expenses up front. The benefit of the medical expense deduction is that it can help you bounce back from the financial burden of your medical expenses. Certain medical expenses can count as a deduction on your annual tax return. Check the list of medical expenses that might count for a tax deduction.

Alternative Treatment Options

Depending on the procedure you need done, there might be alternative treatment options available to you. Experimental treatments are often free, since you are being used as a “guinea pig” to further science. These experimental treatment options can be very risky. However they could also result in huge benefits. Sometimes experimental treatments can provide you with a better outcome than you could have gotten by current modern medicine. Experimental treatments currently being provided are not always public knowledge. So it is best to ask your doctor about all of the options available to you. Before.


Medical expenses can be extremely expensive and overwhelming, but personal medical loans can help lighten your financial burden. If you are searching for personal medical loans to help get you back on your feet, then there are many options available to you. Even if you have bad credit, there are personal medical loans available to you through certain lenders with even no credit check.

The most important thing you can do during your journey to find personal medical loans is to be informed every step of the way. Be aware of your personal financial situation — current credit score, income, and what you can afford to pay back and what time frame and rate. Loan shop online for personal medical loans that may be right for you; never take the first offer, but see the multitude of options out there before making a decision. Find a lender first and never sign anything without understanding all of the terms and conditions.


Your Guide to Personal Loans for Emergency Home Repairs

As a homeowner, there are times when you will have to carry out emergency home repairs. Whether the repairs are from faulty systems, wear and tear, or natural phenomena, it will be important to figure out where you will get money to finance the works. Personal loans for emergency home repairs are becoming increasingly common and popular. However, you should familiarize yourself with the products and the various options available to you before taking out this type of personal loan.

A good number of consumers do not know where to get a loan when they need extra cash for such an emergency. This is why we make it easy for consumers to not only find a lender but also help them avoid common scams. By facilitating the process of financing home repair services, we help ensure a seamless process and convenient borrowing experience. Here is what borrowers need to know about emergency cash loans for home repairs.

Emergency Home Repair Loans

Sometimes, you may find yourself stranded when your home needs emergency repairs, but you do not have money to pay a contractor to do the job. What most people do not know is that personal loans for emergency home repairs can make for a great way to access the financing you need, allowing you to pay back the loan later over a period.

Emergency home repair loans are one of the many types of personal loans available in the loan market. This type of loan would be ideal in case you do not qualify for other loans if the amount required is too small to take out a home equity or you cannot afford to pay for the emergency home repair yourself. Just as with any other type of personal loan, home repair loans have a fixed interest rate and are paid back in specified installment amounts over a fixed time.

Numerous lenders offer repair loans for emergencies. However, the loan terms vary by the lender. This means that you should not only find the right lender for your circumstances but also understand what you are getting yourself into before making a financial commitment. In short, borrowers have to take time to shop for emergency repair loans and carefully consider the different options available.

How a Personal Loan Works

The period after your home has been affected by destructive events can be characterized by confusion and a feeling of helplessness. This could leave borrowers wondering where to get a loan. However, before taking any step, it would be essential to understand how these personal loans work.

Personal loans are consumer loans that are granted for personal, family, or household use. As installment loans, it means that borrowers borrow a fixed amount of money. And pay it back in monthly installments over the life of the loan. This period will normally range from 12 to 84 months, with the borrower paying back both the principal and accrued interest by the end of the period. The account is usually closed once the loan has been repaid in full.

There are two types of personal loans: unsecured and secured loans. Unsecured loans are not backed by collateral, meaning that the lender will determine whether you qualify for the loan based on your financial history. Secured loans, on the other hand, are backed by collateral. As such, the lender will have the right to claim your asset if you are unable to make your payments.

Personal loans for emergency home repairs are consumer loans meant to carry out repairs after your home has been damaged. In fact, using a personal loan to carry out home repairs is one of the smart ways to use this type of loans. This is because home repairs and improvements will help to increase the value of your property. Similarly, by making your home more functional and comfortable, you will enjoy the peace of mind you need to do other things productively.

Common Home Repairs

Home repairs come in different forms. While some make for small projects that you can do yourself, others are larger and will require that you call in a contractor. If you find yourself in need of personal loans for emergency home repairs, you should take time to loan shop to ensure you find the right product for your needs.

Floor view of an appartment
  • Water heater replacement – if your water heater is older than 10 years, there is rust in your faucet water, rumbling and noise or water leaking from the heater, you should consider replacing it.
  • Roof repair – roof damage can occur as a result of weather damage, damage from trees and power damage, missing or cracked shingles or leaks.
  • Frozen or broken pipes – decreasing water pressure, water discoloring, and reoccurring leaks are some signs that you may have broken pipes and need emergency home repairs.
  • Damaged gutters – if you notice broken seams where gutters meet, cracks and leaking or water around the foundation, you should determine whether you need home repairs. You can take personal loans for emergency home repairs to help you cover the costs upfront.
  • Restore walls and ceilings – discoloration, holes, and dents on walls as well as a buckling ceiling will need to be repaired. If you notice such defects, it could be time to call a contractor.
  • Replace flooring – you may need to take out emergency cash loans to replace flooring that is stained, chipped, weathered, or has stains from flooding or leaks.

Ways to Finance Emergency Home Repairs

While personal loans for emergency home repairs can help cover these costs, this is not the only way to finance such repairs. Before you start thinking about where to get a loan, you should explore these options to find out if they will work for you.

Before paying for any home repairs out of your pocket, you should find out if the damage is covered by your home insurance. You may only have to pay the deductible, a factor that will save you a significant amount of money.

How much equity you have in your home may make it possible for you to take out a home equity loan or line of credit. However, you should carefully think about interest charges to determine whether taking this step will be worth the while.

There is a possibility you will qualify for a program issued by the local Housing Authority. This will depend on your age, location, and income. Homeowners may also be eligible for repair loans and grants offered by the government.

If your home suffers damage as a result of a natural disaster, you may be eligible to receive funds from the Red Cross or the Federal Emergency Management Agency. It is important to note that these funds are suppose to cover only small repairs that ensure safety and sanitary living conditions.

Depending on the circumstances, there are several nonprofit organizations that may be willing to help home repairs.

Other Options to Consider

In addition to the options mentioned above, there are other alternatives to personal loans for emergency home repairs. Here are some of these options that are available to almost every homeowner.

Other options available to you – before taking out personal loans for emergency home repairs, you should consider the other options available to you. There could be more affordable ways of financing home repairs.

  • Credit cards – you may want to consider financing some of the home repair projects using a credit card. You will be able to save some money if your card has an offer of 0% introductory APR on purchases. This would also be a great way to access the money you need within a short time and without much hassle.
  • Peer-to-peer loans – this is a creative way to raise the money you need to repair your home. Several investors fund a loan by providing a small amount of money to various projects as a way of diversifying risk. Most of these loans have relatively short repayment periods, meaning less interest and allowing you to get out of debt quickly.
  • Alternatives other than loans – there are other ways that you can finance repairs apart from loans. You should consider saving up cash before such emergency repairs become necessary. This effectively means planning for such occurrences in advance. In case your project can be completed in phases, you can pay for the project when you have money for each phase.

Emergency repair loans require that you pay back the money you borrow with interest. Borrowers should have this in mind when applying for the loans.

Factors that Determine Your Eligibility

Even as you shop for a repair loan, it would be important to check the eligibility criteria for most lenders. This will go a long way in helping you to avoid the frustration associated with getting your loan application rejected.

Here are Some of the Factors that Determine Your Eligibility for Personal Loans for Emergency Home Repairs
  • Your income – lenders will only be willing to make loans to borrowers who can pay them back. Depending on how much you are looking to borrow, the lender will consider your income to determine whether you can afford the loan. Borrowers are more likely to be approved for a loan if the payments are a small portion of what they earn.
  • Your employment history – since most people get their income from employment, most lenders will want to know if your work situation is stable. Borrowers with steady employment will find it easier to access the funding they need to repair their home.
  • Other debts you owe – apart from income, the number and amount of debts you owe will affect your likelihood to pay back. It may be difficult for lenders to give you another loan if you are already drowning in debt.
  • The loans you have applied for recently – lenders consider you to be a high-risk borrower if you have several loan applications over a short period in the recent past. Going on a borrowing spree is one of the signs of a possible default.
  • Collateral – in case some of these factors make it difficult for you to qualify for a loan, some lenders may consider offering you a secured personal loan. If you have collateral to guarantee the loan, you may increase your chances of getting an approval for the loan.

Another factor that will play an important part in determining whether you qualify for these loans is your credit score. It is important to have a good credit score to increase your chances of qualifying for a loan as well as accessing higher limits.

Best Ways to Qualify for a Personal Loan

Every borrower will want to increase their chances of getting approved for personal loans for emergency home repairs. Here are some of the best ways to qualify for loans.

  • Ensure your credit is in good shape – your credit score and history is what lenders rely on to establish your financial habits and borrowing behavior. Since emergency home repairs are usually unexpected, you should prepare for such incidences by improving your credit score early enough.
  • Reduce your debt as much as you can – your debt-to-income ratio, as well as the amount of debt you owe, will determine whether you qualify for a personal loan. To increase your chances of qualifying for these loans, you should try to reduce your debts as much as you can.
  • Consider a co-signer – in case you have a low income or poor credit score, getting a cosigner with a higher income, and better credit score will increase your chances of getting a loan. By agreeing to be your co-signer, the person agrees to pay the loan in case you default, reducing the risk to the lender.
  • Personal loan shopping – shopping around for loans will help you know where to get a loan. Such information will help you identify lenders with flexible requirements and loan terms.

Why Consider a Personal Loan for Home Repairs?

There are many reasons why you should apply for and take out personal loans for emergency home repairs. Considering that events that lead to emergency repairs occur unexpectedly, these loans allow you to start repair works immediately. Defects in your house can greatly compromise the functionality of your home. With home repair loans, you will have the money to cover the costs upfront and payback in installments that are spread out over time. Compared to credit card loans, personal loans for emergency home repairs have a lower interest rate. This means that the cost of borrowing will not be as high, allowing you to pay back the loan comfortably without much strain. These financial products can also help you make repairs conveniently and affordable.

Home repair loans are a type of personal loan. As such, the loans require that borrowers pay fixed monthly installments over a specified period. With such an arrangement, borrowers will be in a better position to plan their finances and make payments on time.  Another reason to get a home repairs loan is that it allows you to access a considerable amount of money. Most lenders will actually offer the amount you need to ensure that you complete your project. It would be important to find out how much you will get from each lender when looking for where to get a loan.

Factors to Consider Before Taking Out the Loan

There are several factors that borrowers should consider before taking out these loans. This will help them to find the right loan for their needs and understand the financial commitment they are making as they take the loan.

  • Find the right lender – the importance of finding the right lender cannot be emphasized enough. As you shop personal loans, take time to go through the terms of the lender to avoid making common mistakes.
  • Interest rates – different lenders have different interest rates for their home repair loans. You should remember to compare interest rates from several lenders to ensure that you take out the most affordable loan.
  • Fees – just as with interest rates, the fees charged on the loan will directly affect the cost of borrowing. Make sure you find out whether there are any hidden loan fees and charges.
  • Loan term – how much time you will have to pay back the loan will be an important factor to consider. This will determine how comfortable you will be able to service the loan.
  • The amount you need – the amount you need to carry out repairs should guide you on how much you should borrow. The loan amount will, in turn, affect how much you will pay in interest as well as determine whether you will get your application approved.
  • Your ability to repair – most borrowers take out loans once they find out they qualify without taking time to evaluate their ability to repay. Ensure that you will be in a position to pay back the loan without financial strains that could result in frustration.

Disadvantages of Personal Loans for Emergency Home Repairs

For all the advantages associated with personal loans for emergency home repairs, they are not without some disadvantages. Knowledge of the downsides of these loans will help you decide whether you need to borrow money.

Every time a borrower applies for and takes out a repair loan, it shows on their credit report. Too many applications over a short period will make a borrower less attractive to lenders, making it harder to access loans in the future.

Any rejections will also show on your credit report, a factor that could damage your credit score. It is important to not only check your score before submitting your application but also take the necessary steps to boost a weak score.

Just like any other personal loan, late or missed payments on these loans will hurt your credit score. It is critical to ensure that you can afford the loan before approaching lenders to funds to finance home repairs.

In case you have a poor credit score, there is a good chance you will pay very high-interest rates. Financial experts advise borrowers to resist the urge to apply for these loans in case the lender’s interest rates are too high.

Choosing the Right Lender

In addition to choosing the best personal loans for emergency home repairs, borrowers should also pick the right lender for their needs. Below are some of the ways to identify a good lender with whom to work.

  • Recommendations from friends and family – friends, family, and colleagues who have taken out these loans before can help you to identify reliable lenders. Based on their experiences, you will be able to gather information relating to the terms of different lenders. Some may also suggest lenders who offer tailored loan products to consumers.
  • Loan brokers and aggregators – the process of looking for the right lender can be tedious and time-consuming. Working with experienced loan brokers and aggregators will make your work easier. You will not only save time but will also get a list of potential lenders with whom you can work.
  • Doing research – one of the best ways to find a lender is to shop for personal loans. Today, it is possible to use the internet to access reviews from former customers and also learn more about different lenders. There are also third parties that can help borrowers to identify reliable lenders. We make it easy for consumers to find reliable lenders who give personal loans for emergency home repairs.

How to Use a Home Repairs Loan Wisely

While emergency loans can help you meet your financial needs, they can also land you in a lot of financial trouble if not used correctly. Borrowers should ensure that the money borrowed is used in the way it was intended.

Before you take out personal loans for emergency home repairs, it is important to know the specific types of repairs you would like to do. You should consider listing the repairs down, before working with your contractor to estimate the cost of each of the repairs. This will help you to determine how much you need for the project. Once you have received the funds in your bank account, you must ensure that you stick to the plan. All the money meant for home repairs should be used for that purpose without diverting it to other activities. By doing this, you will benefit from the loan in terms of restoring your home to its rightful condition and increasing its value.



Lastly, borrowers should remember that they have the responsibility to pay back their personal loans. This requires that they not only make sure that they can afford to make payments but also that they put in place measures to see to it that all payments are prompt.

With this information, borrowers will not only know where to get a repair loan but will also be in a better position to make informed decisions. Taking the best personal loans for emergency home repairs can help borrowers to enhance the functionality of their homes. To ensure that the funds help to meet the set goals, it would be important to do some research. One of the best ways to achieve this is through a third party that is not a lender, but helps you find one. We strive to help consumers to find reliable lenders easily and avoid falling prey to scams. Work with us to improve your borrowing experience and find a home repair loan that might meet your needs.


Personal Loan for Medical Procedures: Loans 411

Nearly 30% of Americans struggle to pay for overwhelming medical costs every year. On the one hand, that means that you’re not alone in your search for a personal loan for medical procedures. Your health status and the worry surrounding the cost of your medical procedure can leave you in serious emotional and physical turmoil. Let’s face it… None of this is easy, even if you have been aware of the impending prospect of the procedure for some time.

Getting a Loan for a Medical Procedure

A medical procedure could mean anything. It could be a relatively small, out-patient foot surgery or a full-on heart surgery. So, when you talk about a medical procedure with your doctor or medical provider, you may not know what to expect. You also probably don’t have any idea of what it will take to accomplish. How much time will you be at the medical office or hospital? More importantly, though, what will it cost you? Will insurance cover it? Will you need to miss work? Those are all part of your discussions with medical providers.

Some answers may be pretty easy to determine, based on the standard time that the procedure takes for most patients, and the typical recovery time. You may have other larger questions about what the cost for the medical procedure will be. You may worry about how you will afford it. That’s what you’ll learn here, with the Loans 411. You’ll find out what you might expect. You’ll also find some things you might want to consider when you move forward with your quest to get that medical procedure you need.

Reasons You Need a Medical Loan

So, why would you need a personal loan for medical procedure? It could be an unexpected hospitalization, an injury, or the culmination of medical debt. Whatever the combination is, the cost can be scary. Taken together, the debt and continued medical bills can overwhelm you.

Here are just a few reasons you might need a medical loan, and some tips you’ll need to consider.

Dental or Orthodontic Procedure

If you’ve ever had an issue with your teeth, you know that it can become unbearable fast. Even if you have dental insurance, most plans just don’t cover costs you’ll experience with a dental visit. So, you need other options and you need them fast. Medical loans can be an option that you can quickly access. And really, when you’re dealing with a dental procedure, it’s difficult to wait.

By the time you come to the point that you need a root canal, an implant, or some other dental procedure, you may have already been in pain for weeks or even months. Some dentists offer payment plans, discounts, or other special offers, but you still may be left with the remaining costs.

Cosmetic Procedure

Procedures that improve your appearance can be something as simple a scar revision or a nose job (rhinoplasty) or hair plugs. They can also be facelifts, tummy tucks, or other body contouring procedures. While insurance can cover some body-altering procedures, not all of them are covered completely. You may find that you may have to pay at least part of the costs out-of-pocket. Even if it’s part of the overall cost, that piece can add up to a pile of money.

If you’ve lived with a crooked nose or a scar or even those sagging wrinkles, you know how important that medical procedure is. When you’ve explored your options, a personal loan for medical procedure is one solution. You can finally realize that self-improvement goal you’ve long wanted.

Weight Loss Surgery

Body contouring can be related to weight loss surgery. However, the full extent of the revision to body mass is typically much more dramatic with duodenal switch, various gastric bypass, and Roux-en-Y procedures. Surgeries that involve dramatic weight reduction, you may have other cost considerations. The surgery can be accompanied by nutrition and psychological counseling to support your long-term health and fitness goals.

The weight loss surgery may be life altering, but it’s not inexpensive. Even with health insurance, you may still be required to cover the co-pay for the procedure. While insurance may cover part of the surgery or procedure, it may not cover additional counseling and support services. A weight loss procedure can represent a significant cost. It may seem impossible to cover the cost without a personal loan for medical procedure or other financing.

Why Bad Credit Makes a Difference?

While bad credit is not the only consideration when you’re looking into medical financing, it’s certainly something you have to think about. With bad credit, you may not have the same level of access to financing from your doctor’s office or other medical provider. You may also not have the ability to use your credit card or other line of credit to finance your medical procedure. So, you may be looking for a medical loan that could offer more flexible financing solutions. Or you may just be desperately searching for something that will fund your medical procedure. First you need to determine how your credit may affect the medical loan options you have available to you.

How Bad is Your Bad Credit?

You may know that you have bad credit, but it may not have the level of negative influence you’re imagining. So, the first step is to determine what your credit score is, and also what factors are affecting that rating. Equifax, Experian and TransUnion are the three credit reporting agencies. You can access your credit score from a number of online portals and financial-planning resources.

As part of your credit research, you should also determine factors that may have downgraded your credit, including your payment history and credit utilization. It goes beyond just checking the accuracy of those reports, though. You’ll also want to learn what actions you need to take both now and in the near future to continue to improve your financial health. You’ll also need to gather details about your accounts (bank statements, pay stubs and tax returns).

Your Prescription to a Medical Loan for Bad Credit

What About the Cost of Bad Credit?

Your credit score may be a factor in the type of medical loan you can get, as well as the value of the loan. You may also be offered a loan with a higher interest rate, which means that it will just cost you more money to pay it back. Whatever the cost may be, though, you may still move forward with one of the many options for a medical loan.

How Can You Get a Tax Deduction for Medical Expenses?

It’s important to consult with a tax professional when you have questions about how you can use medical expenses or loans as tax deductions. While you can’t write off all the medical loans, you are allowed to itemize those medical costs that exceed 10 percent of your adjusted gross income. (That percentage just increased on January 1, 2019.) That sounds pretty straightforward if somewhat unattainable, but then you can also include expenses from every person (children, spouse, self, etc.) who is listed on your tax return. So, it may not be as difficult to reach that threshold. Here are a few examples of the expenses that you may consider:

  • Uninsured medical expenses: Contact lenses, false teeth or artificial teeth may be at least partially deductible.
  • Travel expenses: Up to 18 cents per mile, for travel to and from medical facilities for treatment.
  • Treatment expenses for alcohol-and-drug abuse may be deductible.
  • Prescribed expenses: Medically necessary items, as prescribed you a doctor or medical provider. Deductions could involve things like a wheelchair, crutches, special equipment, or a guide dog
  • Eye-procedure expenses: Lasik or other eye surgeries may be deductible.
  • Weight-loss program expenses: These expenses may be at least partially deductible, as prescribed by your doctor or medical provider.
  • Medical-conference expenses: Some education-related costs (admission/registration and transportation) are deductible, particularly if they are related to a chronic illness or condition that you or someone you care for is experiencing.
  • Accessibility expenses: Retrofitting expenses may be at least partially deductible. Those covered expenses could include ramps, chairlifts, or other height or position accommodations of outlets, doorknobs, etc.

You also have to look at whether the medical costs you’d like to deduct are higher than the deductions you claimed the previous year. Depending on how the deductible expenses compare, you may need to fill out a different form.

The Real 411 on Medical Bills — What You Need to Know

Medical bills are an unfortunate reality. You may be so far in debt to hospitals or medically related bills that they can’t afford any new expenses, or it’s a new expense that represents a price tag that’s just impossible to accommodate given your current financial situation. While you may feel alone or even feel like there is no solution, there are a number of ways to address your medical bills. Here are just a few quick ways that you can access the funds you need:

Unsecured Medical Loans:

These types of loans are really considered “personal loans.” Financial institutions consider these loans a bigger risk, because you aren’t offering anything as collateral. These types of loans may only be available to you with bank credibility. There’s typically a trust factor involved in these loans, so they may or may not offer a better rate of interest. It may just depend on your existing credit and other factors that make your bank believe that you’re a safe risk.

Secured Medical Loans:

A Secured Medical Loan typically involves some kind of collateral (a house, car, boat, or other valuable item). The rate of interest and terms may vary, as can the value and type of asset that you’re able to use for the secured medical loans. It’s often easier to get a secured personal loan for medical procedure from a financial institution because they are holding the asset if you default on the loan for medical bills.

Credit Card:

It’s quick and easy, and you probably do have a credit card. That’s why many Americans do put their medical bills on a credit card, at least initially. For larger or more complicated procedures, you may have a more difficult time in putting the entire medical bill on a credit card, particularly if you’ve already been using your cards heavily for your medical expenses so far. That’s when you may turn to medical loans as an option both to cover the larger and ongoing medical-related debts but also as a way to consolidate your credit-card debt.

Home Equity Loan:

Another form of secured loan can be a home-equity loan, but it gives you a bit more flexibility and control over your financial situation. It’s simply a second mortgage based on the value of your biggest asset (your house), and that can often get you the kind of money you need to cover the medical bills and other expenses that you’re facing. There are some regulations about the total amount that you can borrow against your house, though. The Federal Trade Commission allows you to borrow up to 85% of the appraised value.

It’s About the Right Medical Loan Options

At this point, it really doesn’t matter why you need a medical loan for health care expenses. What is important is getting the care that you need. Your health and wellness are essential. Then, the next step is to evaluate your options for medical loans. You need to know what options are available to you, the costs, and the pros-and-cons. You also need to be aware of how your medical loan will affect your future financial health.

Finding the right lender for your situation is extremely important. We know that if you’re having difficulties with your health, the last thing you want to do is research lenders. But you can get help from Loanry. We do this for you. If you leave the required information in the form below, we will get you offers from reputable lenders, and from there all you need to do is compare them and apply.

It’s difficult to take a step back and really study your situation, particularly when you’re in the midst of an emergency. When you and your loved ones need medical care, you want to drop everything. You want to save yourself, or save your child. You might even want to be the hero.


Don’t give in to panic. You can take time and carefully analyze the medical loan options that are available to you.  And, with the myriad of options available to you, you can make a well-informed decision that’s best for you. Nobody ever said that medical bills and loans are easy. But, sites like are there to offer assistance with your financial needs.


Should You Use A Personal Loan for An Emergency?

Emergencies are no respecters of person. Even the richest or the most socially prominent people get blindsided with something out of the left field. Back in the day, people put aside a percentage of their paycheck to meet an emergency. Unfortunately, those days are long gone. Those suffering under an emergency may only have recourse to get a personal loan for an emergency.

What Constitutes An Emergency?

Your Car is Dead

You’re at work one day delivering food. Suddenly, your car stops dead in the road. The rods have been shot through your engine. Unfortunately, there’s no money for a new car. Until you can save it up for a new one or get an emergency repair loan to fix it, you’re going to be hoofing it. This sounds like an emergency to us. May we suggest a personal loan for an emergency?

Heart Attack

You’re awakened in the middle of the night in agony. Your chest feels like an electric current is making its way around the chest cavity. This isn’t a bit like you’ve heard a heart attack feels like, but you’re pretty sure that’s what’s happening. You quietly dress, pack essentials, and call for an ambulance.

Yep, it’s a heart attack. You’re in the hospital for a week. They’ve put a stent in your heart and are keeping an eye on you to make sure your body doesn’t reject it. This means you won’t have a paycheck that week, which means you can’t pay your rent or your bills. This is definitely an emergency, the may require an emergency personal installment loan. You can even get this kind of personal loan online.

You’ve been Evicted

A computer glitch at work scheduled you for two days, but you’re a full-time employee. Even your second job won’t be enough added to those two days to pay the rent and your bills. You’ve never been evicted before, but you’re afraid you might be this time. If the landlord won’t go for a payment plan, it would be a good idea to get a personal loan for an emergency.

No more Health Insurance

Your store was bought out by someone who inexplicably canceled everyone’s health insurance except for the managers. You need special medications to make sure your pregnancy doesn’t miscarry. Without insurance, you can’t afford the medicine. You miscarry the baby. Now you need money with which to buy your asthma inhalers that the insurance formerly covered. Emergency personal installment loans for the win, Alex.

Burning House

You’ve been on vacation for two weeks out of state. You come back home, pull in the drive, and notice something isn’t right. Didn’t there used to be a house here? What’s that pile of debris doing there? Why didn’t someone alert you that your house burned to the ground while you were gone?

Aside from the shock, which is staggering, you have to find a place to live, buy new clothes, get all your paperwork re-established, and start all over again. This definitely sounds like an emergency.

New Office

You’ve been assigned to open a new office in Baltimore. The office you work in now is located in Chicago. You’ll need to pack up, hire a moving company, figure out how to move the dog, and eat everything in the fridge and freezer. A house in Baltimore isn’t just going to materialize; you’ll need to go find one. You’ll need an emergency loan to pay for all of this.

Mother in Hospital

Your mother is in hospital for what her doctors assure you is the last time. You book a flight to her home and pack up. You’ll have to deal with the doctors, the funeral home, cemetery, and all the myriad things involved with death. All this while dealing with a broken heart. There’s no telling how long this will take, so you take a break from work.

The snag to that is that you’ll need to pay the rent and your bills during the time you’re taking care of your mother’s estate. This is the perfect time for a personal loan for an emergency

After years of working, playing, and just living life, your knees have declared bankruptcy. The god of knees is displeased with you. You can no longer work, taking a walk with your granddaughter is a thing of the past, you can’t work out, and life seems suddenly depressing. While you look online for something to do that will bring in a paycheck, you check out emergency personal loans up to 10k or more to cover the basics until you get a paycheck.

Everyone’s idea of an emergency is different. By definition, emergencies are unplanned, often devastating occurrences for which solutions are not readily available. Doesn’t it seem as if they always cost a lot of money? So let’s change our definition to one which simply requires a personal loan for an emergency to turn it into a blessing. Let’s talk about these emergency cash loans and how you might obtain one online.

What Are Emergency Cash Loans?

A mortgage is a loan for a house. You get an auto loan to buy a car. Student loans are another category altogether. A personal loan for an emergency isn’t anchored by anything. You sign the papers, receive your money, and do with it what you will.

Today’s financial industry has changed with the changing times. With peer to peer lending and lending clubs gaining so much ground, the financial industry has had to up its game. Even the big boys, meaning the banking industry and credit unions, offer emergency personal installment loans when you need cash immediately with terms that may match their competing brethren.

Is Your Credit Sterling?

If your credit is sterling, you can apply to one of these personal loans on their websites. Emergency cash loans could be in your checking account by at least the end of the business day or first thing the following day.

Even if your credit is bad or could use a little help, the personal loan for an emergency industry has developed offers just for you. All you need is a good track record on your job, and you’re in. Bad credit doesn’t mean you’re a bad person, just that your finances have undergone some unfortunate changes. Emergency loan stores will work with you to find the loan that’s right for your circumstances.

To get a personal loan online for an emergency, be prepared to have your credit history scrutinized. Lenders need to know that you have a history of repaying loans. If your job is in good standing, and you have a good track record of credit, then you shouldn’t encounter any problems.

Benefits Of Personal Loans

Now that you know what personal loan for an emergency is, you should know their advantages for you:

  • They’re personal. You can do with them what you will-open a home business, take a splashy vacation, buy a new wardrobe since your diet has been successful, buy a new car, consolidate your credit card debt, etc.
  • They’re quick. Sign the papers, and it’s often only hours before the money is in your account.
  • You won’t need a bank. Banks can often feel stuffy and forbidding. Emergency personal installment loans stores feel friendly, smiling, and definitely not stuffy.
  • The repayment amount is fixed, the interest rate is fixed, and the repayment time for the loan is up to you (from two years to five.)
  • You can borrow what you need and then some just for a cushion, from $500 up to $100,000.
  • You’ll have a lower interest rate than you would be using credit cards.

Types Of Personal Loan For An Emergency

There are many ways to get personal loan online or emergency cash loans:

  • Home equity. This type of personal loan for an emergency uses the equity in your house as collateral. You get a lump sum in your account to use as you will.
  • Home equity line of credit. This is a revolving amount you take out as you need it, and uses your home equity as collateral.
  • Military payday loan. Available only to the military and secured by your next paycheck.
  • Credit card advance. Monies advanced to you by your credit card company.
  • No credit or bad credit personal loan. If your credit is less than perfect, you can get one of these secured by your signature.
  • Emergency cash loans. Get personal loan online is often how these are done, secured by your signature.

If you are interested in getting a personal loan, Loanry can make the loan shopping process a bit easier, by connecting you with reputable lenders.

To Qualify Or Not To Qualify

Emergency personal installment loans are called that due to the installment payments each month to repay the loan. If your credit is in good standing, you have a job, and your debts aren’t overwhelming, chances are good you’ll qualify for a personal loan online. If your credit isn’t good, you’ll pay more in interest, and you won’t be able to borrow as much.

Repaying emergency cash loans only goes on your credit report if the lender reports the payments each month. Consolidating your credit card debt (if you used your credit cards to pay for an emergency) decreases the use of your credit. It’s better to pay installments on a personal loan for an emergency. You won’t be repaying credit card interest rates, and your credit score will improve.

If you’re afraid you won’t be able to repay the personal loan for an emergency on time each month, it’s better not to take it out. You don’t want to mess up your credit that way. It would be easier to borrow the money from family or friends.

Banks And Credit Unions

When people need a loan, they automatically think “bank.” Generally speaking, most people don’t know what a credit union is. Banks and credit unions are both public entities bound by federal regulations and offering the same products. Only their administration is different.


Banks are for-profit entities, owned by shareholders. They like to boast of their low fees and interest rates added to their excellent customer service. They generally have branches everywhere as well as being online. It isn’t difficult to find a bank branch somewhere offering what you need.

Credit Unions

Credit unions are not-for-profit entities, owned by their members, also known as account holders. They also offer low fees and interest rates, so shop around. Credit unions are beginning to open branches in every neighborhood as well as being online. Both have enough apps to get you through whatever you need to be done. As an example, you can take a picture of a check, and it’s deposited into your account. No need to fight traffic to make a deposit.

It’s not difficult to join a credit union. If you or someone you love or if you have friends in a certain industry, church, school, or government job, then you can ask to be sponsored for membership. If you have none of the above, ask at a credit union for the requirements of membership. You might just qualify.

When it comes to loans, credit unions seem to have the advantage. Since they don’t have to generate profits for their shareholders, they can charge lower fees and interest rates. Even in their checking and savings accounts, they don’t charge handling fees, so getting loans should be simple.

It really comes down to you and your needs. If you want the convenience of online banking, nearby branches, and you don’t mind higher interest rates, then go with a bank. If the interest rates bother you, then go with a credit union. Basically, fees and interest rates are the most important differences between banks and credit unions.

Loans: Secured Or Unsecured?

Difference Between Secured and Unsecured Personal Loans

Unsecured personal loans, or loans that have no collateral, are easier for most people to handle. They won’t lose their car or house if they can’t repay the loan. If they go bankrupt, unsecured emergency personal loans are easily set aside.

Putting up your house, your car, your art collection, or something else of value, then you stand to lose more if you default on the loan. On the other hand, it’s easier to qualify due to the collateral. If the loan is to pay bills right after you lost your job, the collateral will look more attractive to a lender. Based on the collateral’s value, you should get more money and at a better interest rate.

Depending on the nature of the emergency for which you need a loan, think carefully before putting up something you can’t really afford to lose if you have to default on the loan.

Credit Card Advance Or Personal Loan

One of the sources of emergency loans is credit card advances. They have an advantage over personal loans in that the balance can be paid off every month. The interest rates may be higher, but you can get around that by paying the balance each month. Credit cards are for those who don’t need a large infusion of cash, but could use some in a hurry.

Personal loans, on the other hand, enjoy a fixed interest rate for the life of the loan. You can borrow as much as you need if your credit is good. You get between two and five years to repay the loan. Personal loans are for those who need a large amount of money ASAP.

The Nitty-Gritty Of A Personal Loan For An Emergency

Okay, you know what an emergency is, what emergency personal loans are, you know their benefits, and you know the different types of loans. What’s going to happen when you apply online or stop by a personal loan office? You’ll fill out the paperwork first. Then you’ll need to clearly understand why you’re seeking a personal loan for an emergency. You’ll need to bring at least the last four, preferably six to eight, paycheck stubs with you. Bringing with you a bank statement for the last three months would be a good idea. The personal loan officer will pull your credit report.

Together, you will devise a statement of your expenses. The loan officer needs to know that you’ll have enough money left over after expenses to repay your loan. It’s called income to debt ratio. You’ll need a clear idea of how much money you need to borrow before you and the loan officer get down to the nitty-gritty.

Now that the financial work and the paperwork are done, you have to wait. You’ll hear within hours if the emergency cash loan will happen. You could have your money within 24 hours.

What To Look For In Seeking A Personal Loan Lender

We live in an age of fraud and scams. Unfortunately, when people are in dire need of money, they’ll snap at a legitimate-sounding offer. Only later do they find their identity has been stolen, or they’ve been fleeced of money they not only didn’t have, but desperately needed. Here are a few things to beware of:

Payment fees

Lenders do have fees , but usually tied to the loan. They might say it’s an application fee, but don’t fall for it. Legitimate lenders don’t charge advance fees of any type.

Personal loans can come with fees, including:

  1. Application fees.
  2. Late payment fees.
  3. Origination fees.
  4. Prepayment fees.
Wiring money

Why would you wire a lender money he’s supposed to be lending you? If anyone asks you to wire money to them, they’re very likely frauds. Don’t do it.


If you receive an “invitation” to borrow from a company, call its headquarters to make sure it’s a real company. Some scams set up a website and even brick and mortar premises that sound like a famous lender. This lulls you into believing they’re real. Double check first.

Personal information

Never ever give anyone your social security number, birth date, banking information or anything else personal. Double check to make sure the “lender” is legitimate. Most lenders don’t ask for personal information until you’re doing the paperwork together.


If any “lender” approaches you with guaranteed loan offers, keep on walking. No lender guarantees anything until the credit check, job and income information have been evaluated.


Interest rates on a personal loan are based on credit rating, income, and ability to repay the loan. If a “lender” raises the interest rate by even one percentage point, you’ll be repaying more and for a longer period of time. The “lender” is padding his own account at your expense.

So what?

Life happens. Your house is destroyed by fire or storm, your car dies, you have to move across the country, and/or you can’t pay for your medications due to your insurance being canceled. We get it. Emergency loans were devised for when life happens to you.

Personal loans take many forms. They look like home equity loans, credit card cash advances, military loans, and loans for an emergency. There’s even a loan for those with bad or no credit. The financial industry is working hard to keep up with the times. Therefore, you can ask for a loan and receive reasonable terms from just about anybody in the industry.


Personal loans have many advantages. They’re quick, you can ask for as much money as you need, and you can take as long as you need to repay the loan. You can get them from a bank or a credit union. We understand how people might not want to chance a personal loan store or find a lender online. As we said, you can get a personal loan just about anywhere.

There’s just one thing you need to remember when you decide if a personal loan is right for you. There are millions of listings online that say personal loans. What you don’t know is that among all those millions of listings are companies that don’t lend. They talk to you to get a picture of your reasons for a loan and how much you need. Then they steer you toward the loan companies that may match your needs.

You won’t have to scroll through every one of those millions of sites looking for what you need. These people do the work for you. Read carefully in order to distinguish them from personal loan lenders. Let them help you find an emergency lender with your name on it today.


Medical Bill Financing Made Easy: Your Credit Doctor

One of my worst fears, when I’m faced with a medical procedure, is that I won’t be able to afford it. Or, closely related, that the process of applying for medical loans will be too complicated and time-consuming. There’s good reason to believe that because I hear about people all the time who just don’t have the money, they need to get the medical procedures they need. And, it’s not just about me, it’s also about my kids. How do I make sure that I will have access to the health care that we need while ensuring that I can somehow find a way to pay the cost?

What are Medical Loans and What Can They Do for Your Health

They’re really just what they sound like: personal loans for medical expenses. Sure, I wish I had a rich uncle or aunt who would make all the bills just go away. In the real world, though, I make arrangements for repayment over a period of months and years, depending on the value of the loan. Here’s a quick overview of pros and cons:


  • A medical loan could make me splurge a little more than I should.
  • Borrowing money can just delay the inevitable. If I don’t have the money when the money is due, will I be able to pay it back with interest?
  • It comes down to just another cost, and it all adds up, particularly if I am penalized for prepayment. Do I really want a chunk of debt hanging over my head?


  • Emergency cash loans could be better than my credit card. For example, the interest rate might be better or not, depending on my credit rating. I also may have more options.
  • A loan for medical bills could alleviate some stress of medical bills. I don’t have to worry so much about overextending myself or even with getting back to work right away after the procedure is over.
  • A loan allows me to fully heal, without the immediate worry about money (theoretically).

The decision about whether to seek out a personal loan for a medical procedure can be one of the most difficult decisions. It can also be one of the most rewarding. After all, I’m making a decision that will affect the rest of my life.  It’s also important to note that there are lots of different options open to me for loans. I can use unsecured, secured, home equity, and credit cards to name just a few options.

Each option has drawbacks, but also important benefits. Ultimately, I need to determine the amount of risk I am willing to take, but also what I want to pay for the loans I get for my medical procedures. But, based on my credit history and employment status, I know that there are and will be factors outside of my immediate control. I can, however, work to improve any question factors to make sure that future loan requests will have even more smooth-and-easy processing going forward.

What is a Medical Procedure?

A medical procedure could mean anything. And, usually, I don’t have any idea of what it will take to accomplish. How much time will I be at the medical office or hospital? More importantly, though, what will it cost me? Will insurance cover it? Will I need to miss work? Those are all part of my discussions with medical providers.

I can figure out most of the answers pretty quickly by myself. After all, I’ve had medical and dental procedures before, so I tend to know how long it will take me to recover. It’s all the unknowns that are the hardest to cope with. What happens if I’m wrong about how I’ll react, or what if it takes longer to recover than I anticipated. It can throw the very fragile equilibrium of our lives into wild fluctuations that can take weeks or even months to recover from.

What’s the Cost of Medical Procedures?

Yep, I’ve done that research too. It’s amazing how much time I have to do research on the cost of medical and dental procedures after the fact. Just for the basics of a root canal, for example, it’s nearly $700. Hearing aids range upwards of $2,000 on a good day (and there’s no guarantee of how long the hearing assistance will last). And, then there was that brown spot that they wanted to remove “just to be safe.”

Through the years, there have been countless incidents where I’ve had procedures done that have been scary and even expensive. And, it makes sense. Doctors need to be paid. Hospitals cost money. And, the meds are all part of the process. What scares me even more though, is when my kids need medical care. I know that the doctors and dentists and orthodontists and audiologists will take care of my kids. That’s what they are there for, but there’s still a sinking feeling in the pit of my stomach when I say “yes” to the procedure, and even more when I find out the cost.

What if it’s Serious? What if it’s Life-or-Death?

The cost does not compare. It can never compare with making sure my kids are ok, no matter what the cost. My son, in particular, has benefited from all that medicine and technology has to offer. He’s a cancer survivor. When he was first diagnosed at 18 months old, he had a baseball-size tumor in his belly, and his little body was crashing. The docs said that he had stage 4 cancer, though it took them a while to figure out what kind of cancer or what the course of treatment would be.

I have sat in countless waiting rooms over the years. I’ve sat beside him. I’ve listened to doctors as they carefully tell the latest story of cancer and the chances for survival, and none of that is ever anything that I hope you’ll ever want to deal with. He’s in remission now, and he’s healthy and happy, but I still think about those dark days in the hospital.

I think about the life-and-death decisions. None of us ever wants to be faced with a procedure or condition that could mean the end. But, even day-to-day, and moment-by-moment, it’s scary. We want to be there for our kids, and make sure that our own health and wellness is taken care of as well. But, the reality is… we don’t even know? Any serious condition could affect any of us.

Get Medical Loan

Why doesn’t Insurance Cover it?

Over the years, I’ve become accustomed to dealing with medical insurance both for myself and for my kids. It’s always a bit troubling to me when I see the items that they will cover, and then also see the ones that they just won’t cover. Sometimes there’s an explanation. It could be that the treatment is not approved, or it could be that it’s not generic, or that it is name-brand. More often it could be that the correct signature didn’t get on the right paper. Or, there is just some mix-up in the records.

Often, I’ve called and asked my insurance company, and they don’t have an explanation. For example, I’ve read articles about hearing aids and why they’re so essential (and under-used). Still, insurance doesn’t cover hearing aids for adults. It doesn’t make sense. Given the cost of hearing aids, and the fact that it’s so needed, I’m shocked!

Since there’s only so much I can do or say to my insurance company, it always comes down to me finding other ways to pay for the treatment that my kids and I need. After all, money is not growing on trees. As you can probably imagine, that means: Medical financing is my only option. I’m pretty sure we’re all in the same boat.

And, Then what’s the Tax Deduction Options?

The next question I have is how my medical bills will affect my taxes. Will I be able to deduct anything? Specifically, will I be allowed to use medical expenses as tax deductions? Or will the medical bills just be a deep dark abyss? I know, I know… Tax deductions can vary depending on my situation, as well as how the taxes change every year. I can’t write off my medical loan, but I can still itemize medical costs that exceed 10 percent of my adjusted gross income. (That percentage just increased on January 1, 2019.) With the changing deductions and so many other variables, I always carefully review options to determine how to determine the best course of action.

That sounds pretty straightforward if somewhat unattainable. Fortunately, I can use any of the people listed on my tax return. So, it may not be as difficult to reach that threshold after all.

Here are a Few Examples of the Expenses to Consider

7 Reasons to Use a Medical Loan: Dr. Debt

  • Accessibility expenses: Retrofitting expenses may be at least partially deductible. Those covered expenses could include ramps, chairlifts, or other height or position accommodations of outlets, doorknobs, etc.
  • Eye-procedure expenses: LASIK or other eye surgeries may be deductible. (I have not needed an eye surgery so far, so that’s one good thing.)
  • Medical-conference expenses: Some education-related costs (admission/registration and transportation) are deductible, particularly if related to a chronic illness or condition that I or someone I care for are affected by. So, theoretically, I could attend a conference about cancer.
  • Prescribed expenses: Medically necessary items, as prescribed by my doctor or medical provider. Deductions could involve things like a wheelchair, crutches, special equipment, or a guide dog.
  • Travel expenses: Up to 18 cents per mile, for travel to and from medical facilities for treatment on myself or someone I care for.
  • Treatment expenses for alcohol-and-drug abuse may be deductible.
  • Weight-loss program expenses: These expenses may be at least partially deductible if I got it prescribed by my doctor or medical provider.
  • Uninsured medical expenses: False/artificial teeth or contact lenses may be at least partially deductible.

Ok, so I don’t have to worry about glasses, eye surgery, false teeth, alcohol treatment, etc.

It’s also important to check in with a tax professional to make sure that my deductions are allowable and correctly claimed for my particular situation. I’ll also need to compare the deductions I take this year compared with last year and be sure to use the correct tax form to itemize expenses if necessary.

What About Bad Credit?

My credit score and employment history are important factors when I consider financing and medical loans. Obviously good credit might make my search for a medical loan easier, but bad credit does not ruin all my chances. And, it may actually be a positive thing for me to take out a loan. Here’s why medical loans for bad credit can be a good thing:

  • If I take out a medical loan, and then pay it off, it might just go toward rebuilding my credit. When I pay off the loan, that action is a great way to get my finances back on track.  It’s part of an ongoing process. Just because I need a loan today or tomorrow doesn’t mean it will always be this way. It’s up to each of us to continually improve upon our situation.
  • I also have options like Loanry, third-party services that may help me find a lender who may help me find the medical loan that’s right for me. Remember a medical loan is a personal loan for medical expenses. It’s not a one-stop-shop. There are multiple solutions.
  • I can also dig into your overall credit situation, learn as much as I can and start to find out what has caused my poor credit, and maybe even what I can do to turn my financial situation around.
  • I can also work on improving my credit score before I take out the loan. Of course, it’s important to focus on the best practices for better credit scores regardless of whether I get a medical loan or not.

Your Prescription to a Medical Loan for Bad Credit

Your Prescription to a Medical Loan for Bad Credit

Bad credit may just seem so much more complicated, particularly when combined with planning, but I can make it part of my overall toolkit to rebuild my credit. Instead of focusing on all the negativity, it’s important to focus on what good might actually come out of it. If I only focus on the bad parts of the medical situation and the medical bills and everything else that’s related to poor health and debt, it’s a bottomless pit of despair. There’s just no point in going to the dark side. It’s far better to focus on those things that I can do, what I can improve, and what I can control (which is precious little in this word most of the time).

Final Thoughts

Of course, it’s great to know that there is a loan for medical bills. Who wouldn’t be happy about the possibility of getting out of the stressful medical situations or any situation for that matter? Even a single procedure can be expensive, and then when you consider multiple members of my household, and all of us undergoing varying procedures and treatments. Well, I think you can imagine. It could become overwhelming for even the most positively focuses individual.

All of those medical bills add up, and it’s important to keep on top of the payments for all of those bills. But, where do I start, and really how easy is it to get a loan for medical bills?  So, there are steps each of us can take (sometimes very little ones) in the right direction to achieve our collective goals. It may not always be easy (who said life was supposed to be easy?). But, there are ways and means to get healthy (from a physical standpoint), and also to achieve financial health.

I need to check my credit first. I want to get a sense of which type of medical financing option I need, or which one will fit with my financial situation. Then, based on my credit score, I’ve got several options.

I also found additional details on how to finance medical bills. It’s really not as difficult as I thought. That’s what really excites me. I want a solution that will be quick and easy. But, I need a loan that will allow me to get the medical procedures we need when we need them. Is that too much to ask for?

We just want to enjoy life. Medical finance solutions have helped us before. For that, I will be forever thankful.


Medical Loans for Plastic Surgery: Good Looking Debt

Medical Loans for Plastic Surgery

I decided it was time to take care of something that’s always bugged me about my body. I thought plastic surgery was the only way I was going to resolve it and it was not going to be cheap. My logic was “I shouldn’t let money stand in my way,” but that’s not always the best personal fiscal policy. So I had to figure out how to balance getting the surgery and getting the money to pay for the surgery.

After all, it’s my body, I have to live with this. And I’m tired of dealing with this issue. Getting into debt for a cosmetic procedure seems a bit foolish, but I reasoned that I’m planning on living a long life and I’m not going to be paying off that debt forever.

Medical Loans for Plastic Surgery – Need to Know

I’m now on the other side of the surgery and the problem that drove me nuts is now gone. I’m glad I took action and got plastic surgery for the issue, but I did have medical finance debt to take care of afterward. Here’s what I learned from my experience:

Know Your Credit Score

I’m going to start out by saying that I don’t have the greatest credit rating. I had to take out emergency cash loans a couple of times and I didn’t do a good job of repaying them. The same is true for some other debts I have. There wasn’t much I could do about the debts at the time because my job shorted my pay.

Lenders don’t care if you don’t get paid, and even if they do, they still punish you for situations that are out of your control. I’m doing better with paying my bills, but those dings on my credit rating are still haunting me.

I thought there was no way someone was going to lend me money for plastic surgery. And the surgeon’s office didn’t have much in the way of credit offers that I was eligible for. Sure, there’s medical credit card providers, but they have higher lending standards, and I was practically guaranteed to get rejected.

I mentioned this to one of the office staff. She told me to go online to look for medical loans for bad credit. What she couldn’t do was recommend a particular lender to me since that would break office rules, but she did tell me what to look for.

Finding a Lender for Plastic Surgery

The first thing I noticed is that there are a lot of lenders that offer medical loans. It was awesome to see a large selection of lenders that offer a plastic surgery loan for medical bills, but I needed to figure out which lender was going to be the best fit for me. I only needed one loan for the procedure because I could cover the rest of the medical debt on my own.

That meant I needed enough money to cover the cost of the procedure, plus a little extra to take care of an unexpected event. Having some cash set aside for some of the costs meant that I didn’t have to borrow as much.

Whatever the amount you want to borrow, you should find a reputable lender. As I said, there are a lot of them, so you need to do your research. Or you can use Loanry. Loanry is a website that helps you find the best lender for your situation, connect with them, and possibly get a loan you need within 24 hours of contacting the lender. This is great if you need the money fast, but it’s also great because it leaves you time to explore options.

Bad Credit Medical Loans for Plastic Surgery

I started looking into lenders and found out that my being fiscally responsible didn’t make a difference in how much I could borrow. Lenders who offer plastic surgery medical loans for bad credit appreciated the fact that I set money aside to pay for the procedure, but it didn’t ultimately matter. Medical finance loans don’t work the same as a car loan or home mortgage where a down payment makes it easier to get financing. What mattered most to the lender was my ability to repay the loan under the terms that were being offered.

The lenders are up-front on their webpages that their interest rates are going to be higher than a traditional lender. I knew going in that my not-so-great credit rating was going to be an issue, but ultimately, it didn’t stop a lender from funding a loan for my procedure.

The lender was up front and told me that my credit score was a factor in the interest rate and repayment terms, but they would still loan me the money. I won’t lie, I did have to think about the terms. But I wanted the procedure and I knew about the consequences of my mistakes in the past. I wanted my procedure, so I signed for the loan.

Some medical finance providers have a stipulation that you use the money only for the procedure. The lender may or may not require that you return the portion od the loan you don’t use. But you have to find that out prior to taking out the loan. And when it comes down to it, you shouldn’t be using the money for personal expenses anyway. The loan is for personal enhancements and improvements, not buying stuff. So stick to your plan!

Borrowing Extra is a Good Idea

The surgeon gives a quote for the procedure at the time of the evaluation, but you can’t rely on it being written in stone. Things can go wrong, complications can arise, or the surgeon might encounter an issue during the procedure that makes it harder to complete the surgery as planned.

What that means for you is that there’s a potential for the cost to increase because sometimes you’re on the hook to pay for these issues. This happens even though you have no clue that the condition existed in the first place.

Talk to the lender about borrowing extra money to cover contingencies. A medical finance lender is familiar with these issues and can discuss with you how to handle overages. I was lucky in that I didn’t have extra charges from my surgery, but I was aware that it could happen. I didn’t talk to the lender beforehand and I should have. Don’t do what I did and assume that the amount you’re quoted by the surgeon is what you’ll pay. It’s better to be safe than sorry.

Avoid Using Credit Cards

A lot of people talk about using their credit cards to pay for plastic surgery. It’s not a good idea for a lot of reasons. I know there’s always the advantage of getting a lot of airline miles, bonus points, or cash back to use on the card statement, but it’s not as good of a deal as it sounds on the surface. Ask yourself if you want to lock up your lines of credit in pursuit of paying down debt for years to come and not know when it will be paid off. Doesn’t sound great to you? It shouldn’t.

Credit cards charge a lot of interest on purchases. Every month that interest goes on your balance and keeps it growing. You wind up not being able to use your credit card for emergencies because you have no money available to you.

Another issue is that your minimum payment goes up and you have to find more money to service the debt. If you use that card while you’ve got that surgical balance on it, you’ll wind up paying a lot in interest and not a lot on the principal balance. It means you’re trapped in an endless debt trap that can take years to pay off.

When it comes down to it, don’t use your credit cards to pay for plastic surgery, even if it is a good idea. And if you wind up doing that? Make sure you can arrange for a personal loan to consolidate the debt so you can eventually eliminate it.

Why It’s Better to Get Medical Loans for Plastic Surgery

A medical finance loan is kind of like getting a credit card. But instead of having a revolving line of credit with a limit, you get a certain amount that you eventually pay off. It also looks good on the credit report to show that you’re repaying the loan and eventually you’ll have a loan that shows as paid. My own experience with going this route was beneficial to my credit rating.

Even though I had blemishes in the past, I showed that I can be responsible with a loan and the credit reporting agencies rewarded me. My credit rating improved, and I was able to find other forms of financing instead of resorting to emergency cash loans when I needed fast money.

The biggest difference between a medical loan and a credit card is the fact it’s a fixed amount with fixed interest. A medical loan is also caled a personal installment loan. It has a fixed interest rate instead of variable. What that means is that they calculate the interest on the current loan balance and you pay that first. Any remaining money goes towards the principal of the loan.

Every time I made a payment, the interest amount went down a little because the principal was a little lower. And because the loan has fixed interest, I could rely on the payment being the same every month. It made it much easier to budget for the loan and not fall behind on payments. I most definitely would not have that security if I used a credit card to pay for the surgery.

Keep an Eye on the Fees and Charges

One of the things I noticed when I looked at medical loan that fees and charges are common, but not avoidable. I realize that these extra costs are part of doing business with someone who has bad credit. But I don’t need to feel like they’re constantly punishing for my mistakes. Fortunately, I did find a lender that had reasonable fees and charges which didn’t impact my ability to pay the loan back.

Another thing I noticed when looking at medical finance options is early repayment penalties. What that said to me is the lender wants to punish me for trying to be fiscally responsible and close out the loan sooner than later. I didn’t particularly care for that idea and passed on lenders who insisted on making it harder on me to pay them back.

Going Short-Term Over a Long-Term Loan

I noticed that lenders offered a wide range of loan repayment terms. Some were as little as 12 months while others lasted almost eight years. I looked into why lenders did this and discovered a few things.

One of the reasons why lenders offer longer terms, especially on larger loans, is to make the monthly payments more affordable for the borrower. That means I’m paying off the debt for a longer period of time, but it keeps the payment reasonable.

I considered this option mainly because I had plans to pay extra towards the loan when I had the means to do so. I could keep the monthly payments low and predictable while paying it off sooner. Another advantage of taking a long-term loan is the lender typically offers more money because there’s a longer time period with which to pay off the balance.

Ultimately I decided against a long-term loan and went with a short-term one instead. My procedure wasn’t that costly and I had cash on hand to cover a contingency. I felt it was better that I pay off the loan balance sooner than later and that I could do it within a couple of years. However, that’s just me.

You might find that you need to for a long-term loan because you’re getting multiple procedures and it’s better to do them all at once. Everyone’s needs for a plastic surgery medical loan are different and you should make the decision that’s best for yourself.

Don’t Rely on Health Insurance to Cover an Elective Procedure

Health insurance is not going to cover a surgery that’s not medically necessary. I found this out when I was doing my research to find funding for my procedure. I knew that health insurance companies sometimes covered plastic surgery, but only when necessary.

While I did my procedure because I wasn’t happy with a part of my body, you might have an issue that you can resolve only through plastic surgery and health insurance will cover it. It never hurts to make the phone call to find out, but don’t expect the insurer to help you with something like liposuction because you want to get rid of a belly bump.

Make Sure Your Surgeon Knows You’re Financing Your Procedure

Beauty to Debt: Cosmetic Procedure Medical Loan Options

You might be wondering why your surgeon cares about how he’s getting his money since he’s going to get it regardless of the source of funding. It’s just a good idea to talk about how you’re getting your money for the procedure with the surgeon. The main reason being is the surgeon has to reserve a surgery suite if they don’t have one in their practice.

If you don’t have money to pay for the procedure before the date, the surgeon isn’t going to go ahead with the work, but still has to pay for the suite. And that’s just the tip of the iceberg of what the surgeon has to do to prepare.

Talk to the surgeon about your plans. Don’t assume that the surgeon is going to accept your word that the money is going to be there before the day of the surgery. Plastic surgery is still surgery and there is  lot of equipment one needs to protect you from a bad outcome while you’re under anesthesia. The surgeon has to make sure everything is in place before the operation.

Final Thoughts – Medical Loans for Plastic Surgery

When the surgeon knows you’re getting a loan for the operation, he can plan accordingly and so can you. A little communication goes a long way when it comes to getting the look you want.

I realize that getting a loan for plastic surgery seems like a bit much. After all, who cares what I look like, right? I care, and I care a lot. I want to present the best physical appearance that I can to the world. And it’s not about vanity, it’s about feeling good in my own skin. I found a surgeon, got a consultation about what we can do, and decided that it’s worth paying for in the form of a loan.

The effects of the plastic surgery are still visible long after you pay off the loan. I consider that the best return on investment that I could possibly get.


Medical Loan Financing Made Easy (Clean Bill Of…)

You’ve come down sick with something your primary physician can’t diagnose. He won’t give you medicine for something he doesn’t understand, even though you’re screaming in pain. He sets you up with a specialist for testing. Unfortunately, your insurance doesn’t cover this specialist. You may need medical loan financing.

Let’s say you have a badly twisted knee from playing too rough with the kids or the dog. You know a chiropractor will fix it right up. You’ve used them before and liked the results. Unfortunately, your insurance doesn’t cover chiropractic. Medical loans for bad credit may help.

If you are interested in getting a medical loan for any reason, consider checking out the following lenders. Put in your information below and see if you will get any offers from potential lenders:

You’ve taken your daughter to every type of doctor under the sun for treating her migraine headaches. Not one of them helped for more than ten minutes. You cringe and your heart breaks every time she cries. You’re seriously considering holistic medicine or Eastern medicine. Of course, your insurance doesn’t cover such doctors. Loans for medical finance may help.

How to Finance Your Medical Bills

There are plenty of reasons insurance companies won’t pay for your medical treatment and/or medication. Remember they’re in the business of not paying on claims if the risk is unacceptable. Insurance is all about risk. It sounds messed up, but if you’re healthy, they want you. If you’re not healthy, then you’re on your own.

Out Of Network

Out of network simply means that the doctor or specialist doesn’t have a contract with the insurance company. The insurance company may or may not have a good track record of reimbursing the doctor, so he didn’t sign a contract. In network doctors did sign such a contract.

You can always appeal it with the insurance company if you can show that it was an emergency. An out of network doctor was all that was available. You also stand a good chance of having the insurance pay if you can prove that no in network doctor could fix the problem.

If the insurance still won’t pay for your treatment and you need treatment from an out of network doctor, chances are good you’ll be paying for it yourself with medical loan financing in the form of a loan for medical bills.

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Medically Unnecessary

The law describes medically unnecessary as “when they (tests, medications, or treatments) are not reasonable and necessary for the diagnosis and treatment of illness or injury,” according to Washington, D. C.’s Vogel, Slade, and Goldstein. Pharmaceutical companies and medical professionals have been nailed to the wall for doing just the opposite.

Again, you can appeal a “medically unnecessary” decision to your insurance company with the help of your doctor. Not all insurance companies are heartless, especially if patients suffer chronic pain, diabetes, heart troubles, and a score of other illnesses and diseases.

But therein lies the rub. There are dozens of completely unnecessary tests and other medical things that harm patients, such as carotid artery stents where there was no need. COPD patients who are asked to use supplemental oxygen run the risk of carbon dioxide poisoning. No one in their right mind would call either of those a good much less necessary thing.

Perhaps if the wording of the request were tweaked, the claim could very well go through. You’ll never know, though, if you don’t call the insurance company and try. Only when all else fails should you get medical loan financing.

Questionable Hospital Admission

There are two types of hospitalization: observation and inpatient. Your doctor might think your condition or illness requires inpatient status. The insurance company might very well agree, but according to some weird rules and standards, the insurance company will consider the hospital stay observational. They won’t pay for it.

This is how Americans go bankrupt with medical bills piling up. You can use one of several methods of paying for the hospital stay such as credit cards or taking out a second mortgage on your house. There’s a quicker, easier way, though.

It’s surprising how many people aren’t aware of personal loans. They may be called emergency cash loans, medical loans for bad credit, medical finance for urgent care, a loan for medical bills, or medical loan financing, but money is money, no matter what you call it. Personal loans can be used for whatever reason you care to name. Medical bills, pardon the pun, fit the bill.

Sorry, No Can Do

Hall and Oates were talking about love when they sang that song, but it does seem to perfectly fit insurance companies not paying for drugs. It’s exceedingly frustrating that insurance companies will pay for certain drugs in the treatment of a condition, illness, or disease, but not pay for other drugs that actually work.

You go online to access a list of acceptable drugs for which the insurance company will pay. The drug your doctor gives you samples of is listed. However, when the doctor calls the insurance company to get authorization for a prescription, the insurance company won’t pay for it. Even if the drug benefits the condition, illness, or disease, it’s still “sorry, no can do.”

You and your doctor now have a choice. You can keep on using the drug that does a mediocre job of treating the condition, illness, or disease. Alternatively, the doctor can prescribe the drug that works better, but you’ll have to pay for it out of pocket. Unfortunately, they usually cost both arms and a kneecap.

Some pharmaceutical companies will help people who can’t afford their medications by giving it to them free of charge. Unfortunately, patients will only receive a limited amount of the drug. If you want a year’s supply of the drug, you’ll have to pay for it yourself. Here’s where emergency cash loans, medical loans for bad credit, medical finance, and a loan for medical bills come into the picture. Medical loan financing was invented for these people and situations.

Insurance And Chiropractic

7 Reasons to Use a Medical Loan: Dr. Debt

While it’s true that a few insurance companies cover chiropractic, many don’t. Chiropractors aren’t allowed by law to prescribe drugs. They don’t do tests for medical conditions. Chiropractors can only adjust the body to alleviate pain and return the body to its original stature following an accident.

Because chiropractors aren’t technically “medical,” most insurance won’t cover their treatments. Another factor is that chiropractors “fix” the problem, so the patient can’t be treated indefinitely for a condition. Insurance wants to pay for indefinite treatment.

For the most part, if you’ve been in an accident and are in pain, then you go to a chiropractor on your own. Even if your medical doctor would refer you to one, the insurance may or may not cover chiropractic. It’s time to check out emergency cash loans, medical loans for chiropractic treatments, medical finance, or medical loan financing such as a loan for medical bills. Personal loans can be used for lots of reasons, and being treated using chiropractic is a good one.

Holistic Treatment

The National Institutes of Health tells us that 33 percent of adults and 12 percent of children used alternative treatments in 2012, the latest date for which there is data. They’re spending over $30 billion a year for complementary medical treatments.

Acupuncture and massage are covered by most insurance companies, but there are some that won’t. Yoga and meditation are beginning to be covered, but holistic medicine still is not covered. That’s unfortunate, since these methods of treatment are often successful where traditional medicine was not.

Credit Impact Medical Bills

The NIH article said that the majority of people paying for alternative and complementary medicine were uninsured. Until the insurance industry updates itself and covers alternative and complementary medicine, you’ll have to pay for it yourself. Personal loans in the form of medical loan financing, emergency cash loans, medical loans for bad credit, medical finance, and loan for medical bills.

Eastern Medicine

When Eastern medicine is mentioned, people envision Chinese doctors with acupuncture rods, bowls of bark and grasses, and odd-looking liquids. Westerners are aware that Eastern medicine has been keeping people healthy for thousands of years. They’re game to try it but aren’t sure if their insurance covers it.

Eastern medical practice focuses on the body’s energy or qi (pronounced key.) This energy governs body functions, fighting outside health threats, and turning food and drink into necessary support for the body. If the qi is out of balance, the person is ill.

One of the more popular Eastern treatments is called Qi gong. It encompasses breathing, meditation, and focused movements to balance the qi. This is said to benefit diabetics, those with high blood pressure, ulcers, cancer, and more. It isn’t covered by insurance, though. You have to pay for it.

While some Eastern medicine practitioners use acupuncture, cupping, and herbal remedies to balance the qi, it still isn’t considered “medical.” While Western medicine considers it interesting, it thinks Eastern medicine doesn’t heal. Insurance therefore won’t pay for it.

There simply are some methods of healing that Western doctors can’t match. When their tests, imaging, and drugs won’t cure or control a medical condition, illness, or disease, Eastern medicine is a logical alternative. However, you’ll need to take out medical loan financing like emergency cash loans, medical loans for bad credit, medical finance, or a loan for medical bills in order to get the treatment you need.

Herbal And Home Remedies

Americans are turning more and more to natural remedies such as herbs and using food as medicine. Eminent doctors (Dr. Axe and Dr. Weil come to mind) write treatises on the healing power of herbs and food. Nutritionists and other health personnel are working with people to use these methods to heal medical conditions, illnesses, or diseases.

Some herbs or proprietary formulae are expensive; some aren’t. People are used to popping into their local pharmacy to pick up a bottle of herbs. They’re less used to seeing doctors or other medical personnel for proprietary formulae. However, they pay for these things, because they’re working.

When people find a trusted medical professional and use their formulae, they don’t mind paying for it. The snag to that is that this stuff is expensive. While we’re not talking pharmaceutical prices here, the preparations still cost a lot of money. You might not require tens of thousands of dollars in medical loan financing like emergency cash loans, medical loans for bad credit, medical finance, or a loan for medical bills, you’ll still need some funds to pay for the medicine.


There are patients who can no longer get the medications they need through insurance, so they order them online for cash. Some don’t have insurance at all, so they order what they need online, paying cash for them. Others order medications online for which their insurance won’t pay. It’s about taking matters into your own hands, especially when you’re being told you can’t have what is helping you. It’s about money most of the time.

The snag to this is that sometimes the medication shipped to you is inferior in quality to that processed by American pharmaceutical companies. You might receive an asthma inhaler, but it’s called something else and feels watered down. However, it’s all you can afford or have access to, so you go with the flow.

Doctors generally don’t approve of obtaining medications from foreign countries due to quality control. They end up fixing the problems caused by such medications. They may understand your dilemma, but they don’t like it.

Being forced into a situation like this can be expensive. Foreign pharmaceutical companies usually ship you three of something to get you through until the next order. It’s up to you to make sure you have enough medication to last you. Getting the money to pay for it is often a problem.

Not if you have access to medical loan financing. Again, you might not need thousands of dollars, but you can ask for enough to get you through a year until something better comes along. Your health is nothing to mess with, so take out enough in medical finance to see you through.

Interconnection Between Medicine and Insurance

The connections between the medical field and the insurance world are tough to figure out. One is about acceptable risk, and the other is about taking no risks at all. One is about money, and the other is about life and making sure it continues. And one is about what is necessary to optimal good health, and the other is about “are you sure about that?”

The medical industry isn’t the Divine. It doesn’t always know what causes a health problem or how to fix it. It probes, tests, images, eliminates choices, and tries lifestyle changes in order to close in on the problem. Once they “get” it, though, there’s no stopping them. It’s when they can’t “get” it that patients seek alternative means of healing.

That’s where insurance has a major problem. Insurance only focuses on its main things such as auto, home, life, or health. Nothing exists beyond that word. Therefore, alternative, holistic, and other methods of healing don’t exist. If it isn’t “medical,” you’re on the hook for medical loan financing.

This poses a problem mainly for those without insurance at all. Even those with insurance seek other methods of healing when they get tired of wrangling with insurance companies. These patients don’t mind digging until they find someone who can and will help them.

It’s paying for it that’s usually the problem. People have been driven to bankruptcy trying to pay for medical attention in whatever form it takes. They max out their credit cards, use their 401ks, take out second mortgages on their homes, sell their treasures, or borrow from family and friends. No one should have to do that where their health is concerned.

Final Thoughts

Thank goodness there are loan companies that will give people a personal loan for medical loan financing. You can call them by whatever name you wish, but they’re personal loans. What you use them for is up to you. It’s not difficult to do and usually takes between hours and one day to obtain.

There are companies that direct you to the loan company most compatible with your needs and financial situation. They don’t a loan, they direct. This saves people lots of time in calling loan companies only to be told they can’t be helped. The companies that direct you to loan companies use that time to narrow down and focus on the loan companies most able to help you. Before you pick up a phone, call one of these directing companies for help.


Personal Loans for Poor Credit: Loans 911

Personal Loans for Poor Credit
Personal Loans for Poor Credit: Loans 911

There are many reasons why people sometimes need to apply for quick cash loans or other financial help. Personal loans for poor credit are now the fastest growing loan type in the United States. They are now usually easier to get approved and the funds are quickly dispersed. Traditionally, people with low or bad credit scores have found it difficult to apply for any loan type.

Personal Loan With a Bad Credit? Here is What You Can Do

Banks and other lending institutions weigh a person’s credit score when they apply for a loan. The score can affect eligibility and the kind of interest rate that will be offered the borrower. If you are looking to borrow money using personal loans for poor credit, then here are some things that you can do to qualify.

Over Coming the Credit Score Problem

Having a credit score of 550 or less can make it challenging at best to apply for and get approval for a personal loan. It can happen if you take the right steps before submitting your application.

Working on Credit Rebuilding

A score under 580 is considered a bad score for personal loans. The next level of credit scoring is considered to be in the fair range. It might surprise you that just paying down your debt a small amount or just waiting for six months before applying can actually help your score. Another way to raise your credit score is to pay bills on-time for a six-month window.

This puts a good track record of payments. What helps raise your score. It would also be a good idea to monitor your score through one of the many free credit score rating websites. If you are in need of a loan sooner than later, you can apply for your personal loans for poor credit. At least, as soon as the score goes over the 580 mark.

Look to Find a Lender that Deals with Bad Credit ScoresBad Credit Score

There are lenders available to use for personal loans for poor credit that consider a bad credit score for the interest rate but not for eligibility. They are more willing to approve cash loans bad credit than many other lenders. In many cases a terrible score is overlooked and the approval is granted.

However, the interest rate you will be offered will be high. But this might be the step you need to get a better rate someplace else. Once the loan has been approved and issued, the funds can be used to pay off credit card debt.

In a few weeks that can affect your credit score by raising it. At this time it would be worth looking at another personal loan with a lower interest rate. If you get approved, simply pay off the higher interest loan and settle into paying off the new loan.

Many of the high interest loans will be smaller in amount. Personal loans for poor credit can range from $1,000 to $5,000 or more depending on the lender. The term to pay back the loan may be shorter than normal. An average payoff time is right around 24 months. When applying for a high interest personal loan you will be required to show proof of employment and proof of payroll. This helps them see what you are able to handle by way of a loan based on your current debt to income ratio.

Come With a Cosigner to Get Our Emergency Cash Loans

A cosigner is a person who is willing to sign up for personal loans for poor credit with you. If you are thinking of using a cosigner, then find a person with an awesome credit score. The lender will look at their credit score and determine if it is good enough for the loan you are seeking. Usually there is no problem when using a cosigner.

The lender just wants to make sure that they can get their payment on time each month. A cosigner is a person that is willing to pay on the loan should you not be able to make the payments. This puts a lot of credibility on you to pay it off, so they do not have to pay it off.

Personal Loan Shopping

Borrow From Someone You Know and Trust for Personal Loans for Poor Credit

If a bad credit score is keeping you from getting a personal loan, then you might want to consider borrow money from a trusted friend or family members. You can borrow a smaller amount to pay off just enough of your debt which will cause your score to rise.

Once you get your score to a level that you can borrow the rest of the money, then simply apply for a new personal loan. As always it is a smart move to detail out all the conditions and agreement plans just so there is no confusion or fights in the future.

Bring in the Equity for Personal Loans for Poor Credit

Most people really do not like having to bring in their personal assets to get approval for a loan. But it is one way to get the money you need. A loan that includes an asset is a secured loan. In case of a loan default the item is taken and sold to satisfy the remaining balance of the loan. Here are some things that would qualify as an asset for a loan:

  • Home equity.
  • An automobile.
  • Financial accounts.
  • Personal property.
  • Watercraft.

These types of loans are only issued for the value of the object being presented as an asset. In most cases an appraisal will be needed from an accepted appraiser in order to determine the objects true value.

The Option to Reconsider

Nothing is ever final until both sides agree that it is over. If you are rejected, take the time and speak with them about the reason why you were denied. You might ask them what it would take to see that you get an approval. This is where you will have to prove your case. The reasons that you present will need to be strong reasons why they should reconsider your application.

One strong reason that you can use supposing it is true it to point out a significant pay raise coming your way. The lender may require a letter stating the raise is coming, and they will need to know when. It might delay the loan being approved until after the raise takes effect.


There are many ways you can improve your credit score. By taking these simple steps you can begin the process to getting the help you need financially. It will take some time and effort to get your credit score up but it will be worth the effort since it can help you get a lower interest rate and the approval you are looking for.