{"id":12677,"date":"2024-03-11T08:33:39","date_gmt":"2024-03-11T08:33:39","guid":{"rendered":"https:\/\/mtctheme.medicaltourismco.com\/how-to-get-medical-loan-for-surgery-abroad\/"},"modified":"2024-07-19T10:13:54","modified_gmt":"2024-07-19T10:13:54","slug":"how-to-get-medical-loan-for-surgery-abroad","status":"publish","type":"post","link":"https:\/\/mtctheme.medicaltourismco.com\/how-to-get-medical-loan-for-surgery-abroad\/","title":{"rendered":"How to Get Medical Loan for Surgery Abroad"},"content":{"rendered":"<p><!-- META DATA --><br \/>\n\tmtctheme_content = &#8220;<a href=\"https:\/\/mtctheme.medicaltourismco.com\/unsecured-medical-loans\/\" target=\"_blank\" rel=\"noopener\">Loans for medical treatment<\/a> are a <strong>convenient alternative<\/strong> for individuals unable to finance their surgery. Due to the skyrocketing healthcare costs, it becomes extremely difficult for some to pay for their treatment.rnrnA surgery outside one&#8217;s home country is a <strong>good option<\/strong> to circumvent the high costs. Read on to know how to get medical loans for surgery abroad.rnrn<div id=\"oiUd\" class=\"content-area content-area--question\"><div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/mtctheme.medicaltourismco.com\/wp-content\/themes\/mtctheme\/assets\/img\/question.png\" alt=\"Question\" \/><\/div><h3 class=\"section-title\">Did you know?<\/h3><p>rnrn<strong>7% of adult Americans<\/strong> declared bankruptcy owing to their medical bills between 2015-17.rnrn<\/p>\n<\/div>rnrnThe loans for medical treatments such as <a href=\"https:\/\/mtctheme.medicaltourismco.com\/dental-procedures\/\" target=\"_blank\" rel=\"noopener\">dental work<\/a> and <a href=\"https:\/\/mtctheme.medicaltourismco.com\/bariatric-surgery\/\" target=\"_blank\" rel=\"noopener\">bariatric surgery<\/a> may either be secured or unsecured. <strong>Secured loans<\/strong> involve security (usually the borroweru2019s assets) till the time the amount is fully repaid.rnrnAccording to Wikinvest, <strong>unsecured loans<\/strong> for weight loss surgery and other treatments do not require any security but have a higher rate of interest.rnrn\n    <h2 id=\"\" class=\"section-heading\">Why Are Loans for Medical Treatment Required?<\/h2>\n    rnrnBesides being expensive, certain medical treatments, such as weight loss surgery and dental surgery, are <strong>not covered<\/strong> by insurance policies.rnrnEven if they are, the insurance coverage is limited. This creates the need for an avenue that can <strong>provide funds for your surgery.<\/strong>rnrn<div id=\"k200\" class=\"content-area content-area--question\"><div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/mtctheme.medicaltourismco.com\/wp-content\/themes\/mtctheme\/assets\/img\/question.png\" alt=\"Question\" \/><\/div><h3 class=\"section-title\">Did you know?<\/h3><p>rnrnHealth insurance in the United States has become <strong>less affordable<\/strong> since 2015. In 2017, <strong>37% of the adults<\/strong> were unable to pay their premiums as compared to <strong>27% in 2015.<\/strong>rnrn<\/p>\n<\/div>rnrnIf your insurance policy does not cover surgery, you can explore the following options:rn<\/p>\n<ul class=\"square-li-color-style\">rn t<\/p>\n<li>Opt for a <strong>medical\/personal loan<\/strong><\/li>\n<p>rn t<\/p>\n<li>Check if you qualify for<strong> Medicaid<\/strong><\/li>\n<p>rn t<\/p>\n<li><strong>Consult a medical tourism company<\/strong> that assists in arranging loans as well as cheaper surgery abroad<\/li>\n<p>rn<\/ul>\n<p>rn\n    <h2 id=\"\" class=\"section-heading\">What Are Medical Loans?<\/h2>\n    rnrnMedical loans have become <strong>an attractive option<\/strong> for individuals seeking treatment but lacking the finances to self-pay for surgery.rnrnIn fact, there are<strong> <a href=\"https:\/\/mtctheme.medicaltourismco.com\/medical-tourism-in-mexico\/\" target=\"_blank\" rel=\"noopener\">specialized medical tourism<\/a><\/strong> companies that can help you get a medical loan apart from arranging for your treatment and the surgery trip.rnrn<div id=\"mBhS\" class=\"content-area content-area--box\"><p>rnrnAccording to <strong>National Bankruptcy Forum<\/strong>, an unexpected medical bill of<strong> $500<\/strong> is too much to pay for about <strong>45% of Americans.<\/strong>rnrn<\/p>\n<\/div>rnrnThe medical loans are likely to <strong>cover the cost<\/strong> of:rn<\/p>\n<ul class=\"square-li-color-style\">rn t<\/p>\n<li>Surgery<\/li>\n<p>rn t<\/p>\n<li>Medical bills<\/li>\n<p>rn t<\/p>\n<li>Hospital charges<\/li>\n<p>rn t<\/p>\n<li>Other treatment-related miscellaneous expenses<\/li>\n<p>rn<\/ul>\n<p>rn\n    <h2 id=\"\" class=\"section-heading\">Personal Loans<\/h2>\n    rnrnThere may be times when a bank may not offer medical loans. In such a scenario, one can go for a personal loan.rnrnThe formalities for availing a personal loan would be somewhat different from that of a <strong>medical loan.<\/strong>rnrnUsually, in the former, the exact reason for availing it is not asked.rnrnMore people are also lured towards personal loans since there is no collateral involved. Despite the interest rates being higher, personal loans attract people because of loose restrictions.rnrn<div id=\"ANlx\" class=\"content-area content-area--box\"><p>rnrn<strong>Interesting Fact<\/strong> &#8211; The interest on personal loans decreases as an individual gets older!rnrn<\/p>\n<\/div>rnrn\n    <h2 id=\"\" class=\"section-heading\">Healthcare Financing for Medical Treatment<\/h2>\n    rnrnApart from the banks, many <strong>other financial organizations<\/strong> have come up with the option of providing finances specifically for medical treatment.rnrnFor instance, <strong>United Medical Credit<\/strong> and <strong>E-Financing Solutions<\/strong> are two<strong> non-banking<\/strong> entities that provide finances specifically for medical treatments, such as bariatric surgery and dental surgery.rnrnSome of the <strong>benefits<\/strong> of availing loans from these organizations are:rn<\/p>\n<ul class=\"square-li-color-style\">rn t<\/p>\n<li>Multiple plans to choose from as per your requirement<\/li>\n<p>rn t<\/p>\n<li>Simpler process<\/li>\n<p>rn t<\/p>\n<li>Easy and quick access to your medical treatment<\/li>\n<p>rn t<\/p>\n<li>No need to wait and accumulate savings for getting the treatment<\/li>\n<p>rn<\/ul>\n<p>rn\n    <h2 id=\"\" class=\"section-heading\">Bad Credit Score Hindering Your Bariatric Surgery Or Other Treatment?<\/h2>\n    rnrnThe credit score is a numerical expression that represents the creditworthiness of an individual. It reflects on how efficiently an individual has been honoring the credit payments in the past.rnrnThe <strong>credit score<\/strong> of a person decides for an individualu2019s qualification and limits for a loan. Sometimes, the bad credit score of an individual becomes a hindrance for availing a loan.rnrnTo help individuals with this issue, <strong>medical tourism companies<\/strong> help arrange finances for the patients.rnrn\n    <h2 id=\"\" class=\"section-heading\">Factors Affecting Credit Score<\/h2>\n    rnrnThe credit score of an individual depends on <strong>certain factors<\/strong>, some of which are discussed below:rn<\/p>\n<ul class=\"square-li-color-style\">rn t<\/p>\n<li><strong>Payment History:<\/strong> This includes timely payment of bills, if your accounts have gone back for collection if there are any charge offs, or foreclosures, etc.<\/li>\n<p>rn t<\/p>\n<li><strong>Amounts Owed:<\/strong> This includes the extent to which you have used your available credit, and the amount you owe to specific accounts and in total.<\/li>\n<p>rn t<\/p>\n<li><strong>Length of Credit History:<\/strong> This factor considers the length of time you have been using the credit. A long history proves to be helpful. However, a short history may be good as well if the payments are being made on time.<\/li>\n<p>rn t<\/p>\n<li><strong>New Credit:<\/strong> This considers the number of new accounts you have recently opened. A higher number of new accounts has a negative impact on your credit score as it is indicative of your cash problems.<\/li>\n<p>rn t<\/p>\n<li><strong>Types of Credit in Use:<\/strong> This considers the mix of different types of credit in use, such as credit cards, store accounts, installments, loans, etc.<\/li>\n<p>rn<\/ul>\n<p>rn<div id=\"8tWf\" class=\"content-area content-area--box\"><p>rnrn&nbsp;rn<\/p>\n<p style=\"text-align: center\">Check <strong><a href=\"https:\/\/www.calcxml.com\/calculators\/credit-score-calculator-new\" target=\"_blank\" rel=\"noopener\">your credit score<\/a> <\/strong>now!<\/p>\n<p>rn<\/p>\n<\/div>rnrnLoans are indeed a silver lining for individuals with unavailability or shortage of funds to <strong>self-pay<\/strong> a medical treatment abroad.rnrnThey are convenient too as the amount borrowed can be paid in <strong>easy installments<\/strong> over a period of time.rnrn<div class=\"cta cta--post\"><h2>Explore medical loan options!<\/h2><h3>Connect with our consultants<\/h3><a href=\"\/request-quote\" class=\"cta_button btn\">Contact us<\/a><\/div>rnrn<div class=\"content-area content-area--reference\">rnrn\n    <h2 id=\"\" class=\"section-heading\">References<\/h2>\n    rn<\/p>\n<ol>rn t<\/p>\n<li><strong>National Bankruptcy Forum:<\/strong> <a href=\"https:\/\/www.natlbankruptcy.com\/us-medical-debt-statistics\/\" target=\"_blank\" rel=\"noopener\">10 Statistics about US Medical Debt that Will Shock You<\/a><\/li>\n<p>rn t<\/p>\n<li><strong>Bankrate:<\/strong> <a href=\"https:\/\/www.bankrate.com\/loans\/personal-loans\/top-reasons-to-apply-for-personal-loan\/\" target=\"_blank\" rel=\"noopener\">The top 9 reasons for personal loans<\/a><\/li>\n<p>rn t<\/p>\n<li><strong>Investopedia:<\/strong><a href=\"https:\/\/www.investopedia.com\/articles\/pf\/10\/credit-score-factors.asp\" target=\"_blank\" rel=\"noopener\"> The 5 Biggest Factors That Affect Your Credit<\/a><\/li>\n<p>rn<\/ol>\n<p>rn<\/div>&#8221;<br 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  &#8220;12059&#8221;<br \/>\n]<br \/>\n\t\t\tmtctheme_synopsis = &#8220;Loans for medical treatment are a convenient alternative for individuals unable to finance their surgery. Due to the skyrocketing healthcare costs, it becomes extremely difficult for some to pay for their treatment.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loans for medical treatment are a convenient alternative for individuals unable to finance their surgery. Due to the skyrocketing healthcare costs, it becomes extremely difficult for some to pay for their treatment.<\/p>\n","protected":false},"author":1,"featured_media":56081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[269],"tags":[],"location":[409],"procedure":[],"class_list":["post-12677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-medical-tourism","location-abroad"],"_links":{"self":[{"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/posts\/12677"}],"collection":[{"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/comments?post=12677"}],"version-history":[{"count":3,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/posts\/12677\/revisions"}],"predecessor-version":[{"id":77624,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/posts\/12677\/revisions\/77624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/media\/56081"}],"wp:attachment":[{"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/media?parent=12677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/categories?post=12677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/tags?post=12677"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/location?post=12677"},{"taxonomy":"procedure","embeddable":true,"href":"https:\/\/mtctheme.medicaltourismco.com\/wp-json\/wp\/v2\/procedure?post=12677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}