Loans for surgery?

transmadness · February 12, 2014, 06:50:44 PM

I was wondering if anyone has taken out a loan to pay for surgery? I applied for CareCredit, but got denied. My credit score isn't /bad/ I think it's just that I have over a grand in student loan debt that I still have to pay.
Anyway, I work full time making $10/hr and whatnot, but my dysphoria is getting worse. I know I'll be able to save up the money for surgery by the year's end, but I'm really getting to the point where idk if I can wait that long. This is slowly ruining my life.
I have $1600 saved up right now, but I've been saving since August and that's all I've come up with. I don't ever spend money on anything that I don't need, but I'm still stuck. I've tried crowdfunding, asking people I know to loan me the money, it's just seeming like an impossibility for me. I would never ask for donations, I just want a loan or multiple little loans so I can pay all of the money back. I wouldn't feel right otherwise. This is something I've always wanted to do for myself, but it's just getting so bad for me, to the point where my depression and dysphoria made me angry and ruined my last relationship...
So has anyone had luck with loans?

Sebryn · February 12, 2014, 07:07:33 PM

I used CareCredit myself but have had success getting a medical loan from my credit union (bank) when I had complications last year when I had my hysterectomy surgery.

aleon515 · February 12, 2014, 09:25:46 PM

A bank loan is much cheaper for interest. CareCredit is kind of worrisome in the amt of interest. There are medical and other kinds of loans (like vacation loans, etc. ) that you can get from your bank, providing your credit is good.

--Jay

Sebryn · February 12, 2014, 10:27:26 PM

Yes the interest is very high for CareCredit unless they are running financing specials and you have to be absolutely positive you can pay the loan off before the loan's term for the special is up or you'll have to pay all the interest incurred from the start day of the loan....always read the fine print, all of it.

Try for a bank loan maybe? Do you have someone with good credit/long good credit history that will cosign on a loan with you? That may help.

Darrin Scott · February 13, 2014, 10:42:18 AM

Would a credit union be an option? I heard they're a little easier for getting loans than a bank.

aleon515 · February 13, 2014, 11:37:14 AM

Quote from: Darrin Scott on February 13, 2014, 10:42:18 AM
Would a credit union be an option? I heard they're a little easier for getting loans than a bank.

A credit union would be a MUCH better option! Not hard to be a member, as it used to be. However, for one I joined (this was years ago), I had to get a year's membership with "Friends of Animals" or something, strange. But yes the rates would be very good as they don't make a profit.

--Jay

transmadness · February 13, 2014, 01:56:21 PM

I have 2 banks, I tried with my main one and they denied me because of my student loans I believe. That's my problem, I have student loans that I'm paying off so I don't think anyone will give me a loan. My roommate goes to a credit union though so I will talk to her and look into that. It's just annoying because I don't think they're open on weekends and by the time I get off work, they're closed.
Plus I have to bus everywhere I go so that puts a dent in it too. Ugh. I wish this was just a smidge easier for me.
Is it bad that I get jealous when I see all these real young folks that have never had a job in their lives getting top surgery cause their parents can afford it?
Don't get me wrong, I'm happy for them, I just wish I could have been as fortunate, you know?

Bimmer Guy · February 13, 2014, 04:34:22 PM

Quote from: transmadness on February 13, 2014, 01:56:21 PM
I have 2 banks, I tried with my main one and they denied me because of my student loans I believe. That's my problem, I have student loans that I'm paying off so I don't think anyone will give me a loan. My roommate goes to a credit union though so I will talk to her and look into that. It's just annoying because I don't think they're open on weekends and by the time I get off work, they're closed.
Plus I have to bus everywhere I go so that puts a dent in it too. Ugh. I wish this was just a smidge easier for me.
Is it bad that I get jealous when I see all these real young folks that have never had a job in their lives getting top surgery cause their parents can afford it?
Don't get me wrong, I'm happy for them, I just wish I could have been as fortunate, you know?

No, I think it is normal and makes total sense that you would feel jealous. Although I am 43 years old, I have felt guilty for having the good fortune to be able to afford the surgery. Additionally, I feel guilty that I have had the opportunity to have the surgery when I am not medically transitioning. I am not living as male (even though I define as a transguy and do generally pass). Meanwhile there are guys who are medically transitioning, but can't pass because of their large chests. I think I do need to give myself a break, however. My chest dysphoria was just as intense as any other transguys/FTMs, so that must count for something!

Point is, I get your jealousy and maybe even a bit of resentfulness. Don't feel bad about it.

aleon515 · February 13, 2014, 05:10:26 PM

You don't need to be jealous of me as I am not a young guy, but guessing your feelings are normal.

--Jay

transmadness · February 13, 2014, 05:43:09 PM

Quote from: aleon515 on February 13, 2014, 05:10:26 PM
You don't need to be jealous of me as I am not a young guy, but guessing your feelings are normal.

--Jay

I am certainly not jealous of you. I have a lot of respect for you for starting your transition at this point in your life. I found myself wishing that I could have traded places with you so you could have lived life as a young man. I watched most of your videos and was telling my friend how I think you're really great. I generally do mean the younger kids who are in their teens and whatnot.

transmadness · February 13, 2014, 05:46:43 PM

Quote from: Brett on February 13, 2014, 04:34:22 PM
No, I think it is normal and makes total sense that you would feel jealous. Although I am 43 years old, I have felt guilty for having the good fortune to be able to afford the surgery. Additionally, I feel guilty that I have had the opportunity to have the surgery when I am not medically transitioning. I am not living as male (even though I define as a transguy and do generally pass). Meanwhile there are guys who are medically transitioning, but can't pass because of their large chests. I think I do need to give myself a break, however. My chest dysphoria was just as intense as any other transguys/FTMs, so that must count for something!

Point is, I get your jealousy and maybe even a bit of resentfulness. Don't feel bad about it.

I'm trying not to feel bad, but you shouldn't feel guilty yourself. I'm assuming that since you are 43 that you worked for your surgery? Which, to be honest, I don't think anyone should ever have to do. I believe that this is a medically necessary surgery just like any other and it should be covered. I'm only 23 myself, but I have been working my butt off, sometimes doing 60+ hour weeks just so I can make ends meet and be able to put away a little bit for surgery. I had this roommate a few months back, a few years younger than myself. I think he was 18. His mother is filthy stinking rich (high 6 figures a year) and she paid for his entire transition and was paying for an expensive home for him to live in. He ALWAYS rubbed it in my face that he had surgery before me and never had to pay a cent. I believe he's the reason I feel jealous of these kids whose parents can afford to just hand it to them. If I could I'd buy surgery for everyone male or female who feels dysphoria because I wouldn't wish these feelings upon anyone.

Bimmer Guy · February 13, 2014, 07:12:57 PM

Quote from: transmadness on February 13, 2014, 05:46:43 PM
I'm trying not to feel bad, but you shouldn't feel guilty yourself. I'm assuming that since you are 43 that you worked for your surgery? Which, to be honest, I don't think anyone should ever have to do. I believe that this is a medically necessary surgery just like any other and it should be covered. I'm only 23 myself, but I have been working my butt off, sometimes doing 60+ hour weeks just so I can make ends meet and be able to put away a little bit for surgery. I had this roommate a few months back, a few years younger than myself. I think he was 18. His mother is filthy stinking rich (high 6 figures a year) and she paid for his entire transition and was paying for an expensive home for him to live in. He ALWAYS rubbed it in my face that he had surgery before me and never had to pay a cent. I believe he's the reason I feel jealous of these kids whose parents can afford to just hand it to them. If I could I'd buy surgery for everyone male or female who feels dysphoria because I wouldn't wish these feelings upon anyone.

Your friend sounds like a real jerk. It makes sense that it his behavior would create some sort of resentment in you towards young guys who have parents who pay for their surgeries. I think it is great that you can be honest about this because no doubt others feel this way. I can see how when a person busts their ass and can only put a small amount of money away per month that it can be frustrating to see guys who so easily get their surgeries (especially if they take it for granted like your friend clearly did).

As you said, however, of course it is great that these young men are able to get the surgery early on. It makes starting their lives that much easier. Going into college as male or starting your first job out of high school as male is great.

To answer your question, I myself was very fortunate. My sister and I will get an inheritance when my mother passes. Knowing that I was going to take out a loan for the surgery, my mom decided to pay for my surgery and give my sister cash for the same amount. My mother is well covered financially for life, so this was just a small amount of money for her. You better believe I thank her almost every day. I know how fortunate I am. I do think that some of my guilt around this surgery is that my mother paid for it. However, it is true what she says, I would have gotten that money when she died so why not give it to me now when I "need it"? She empathized with how much dysphoria I had around my chest.

Hang in there. Stash away every extra penny you can. You will proud of the fact that you paid for it yourself. While saving up, make sure that you are on the lookout for job that provides it employees with insurance that is either Aetna or Cigna. Both of those plans have policies that will pay for top surgery. It depends on the specific Aetna/Cigna plan that the employer buys.

aleon515 · February 13, 2014, 09:14:23 PM

Quote from: transmadness on February 13, 2014, 05:43:09 PM
I am certainly not jealous of you. I have a lot of respect for you for starting your transition at this point in your life. I found myself wishing that I could have traded places with you so you could have lived life as a young man. I watched most of your videos and was telling my friend how I think you're really great. I generally do mean the younger kids who are in their teens and whatnot.

Thanks man! I wish sometimes that I had been able to do this younger, but who knew about this stuff back then. It's exciting to get the privilege now.

--Jay

mooncab · February 21, 2014, 02:20:48 PM

Quote from: Sebryn on February 12, 2014, 10:27:26 PM
Yes the interest is very high for CareCredit unless they are running financing specials and you have to be absolutely positive you can pay the loan off before the loan's term for the special is up or you'll have to pay all the interest incurred from the start day of the loan....always read the fine print, all of it.

Try for a bank loan maybe? Do you have someone with good credit/long good credit history that will cosign on a loan with you? That may help.

CareCredit has an option for 6, 12, or 18 month with *no interest* if the amount is paid in full within the time period. I'm considering this as an option. Have you folks not heard good things about this?

Sebryn · February 21, 2014, 05:13:35 PM

The thing with that sort of financing option is you need to be absolutely sure you can make the large monthly payments early or on time. Basically you take the total amount you finance and divide it by 6, 12, or 18 and that's about what you pay monthly, not the minimum payment amount. Another thing is not all places you can use CareCredit at have worked out that "deal" with CareCredit so it's not always an option if you start the CareCredit financing at the surgeons office. On the other hand some surgeons have worked out deals that CareCredit will only give to their clients, which is the option I went with when I financed my surgery fees. I have low interest for 60months and no penalties for paying it off sooner (yes some companies have penalties for paying them off too fast), so that was the best thing for me.

Another thing to remember about that 6, 12, 18 month thing is to look at the interest rate if something happens (and things do happen, such is life) that you can't pay it, it is unusually outrageously high AND they charge you back interest from the time you made the first purchase at that high rate.

It's a pros and cons thing mostly.

Bimmer Guy · February 21, 2014, 05:23:52 PM

Quote from: mooncab on February 21, 2014, 02:20:48 PM

CareCredit has an option for 6, 12, or 18 month with *no interest* if the amount is paid in full within the time period. I'm considering this as an option. Have you folks not heard good things about this?

Make sure you don't take out a loan until you choose your surgeon and know your carecredit options there.

News:

Loans for surgery?

mooncab