I am set up for surgery in Jan 2015 and have been approved for financing with Citerra. My credit score isn't great, but its not bad either. I make decent money and was approved within 2 hours.

This morning, I got the paperwork today to sign and am SUPER bummed because the financed amount has basically doubled!

My procedure is going to cost $4600...but after the $800 fee from Citerra (to use them I guess) and another $2000 fee for 'Provider Adjustment Amount'- I am now looking at a $7300 loan!!! Yikes.

I just called a local credit union and applied for a personal loan through them and should hear back today. However, I am super nervous. I hate applying for credit because it lowers your score (and mine is so fragile!).

If I don't get the loan from the credit union, I am still going to go forward with Citerra, though. Am I stupid? I hope not.

Anyhow, I figure this post may help someone who is considering applying with them. Its always nice to know things upfront!

I would tell them to go jump in a lake.

Watch out for CareCredit, too. I got burned by them several years ago when I had to get dentures. They resold the loan, and it got sold, and that one got sold, etc...... It got to the point that a $1500 bill which I had paid down to $900 eventually turned into $3500. These people finally quit relentlessly bothering me after my Power of Attorney told them that I had a stroke and was on disability. My interest rate with them was something like 21%. I know they are still in business because I saw their sign in a window last month.

@@shizwiz keep us posted, I want to finance the surgery if I can and not dip into my savings, was going to try lendingclub first then efinancing solutions

I agree with the other, it doesn't sound correct. Unfortunately, I was also self pay and am paying off my surgery. I was able to get a credit card with a really high line of credit that had zero interest for 12 months. Perhaps something like this is an option, I pay monthly now and will figure out what to do when the 12 months expire. I also had surgery here in the US so it was quite a bit higher. I was very upset that my insurance didn't cover it, but went through with in anyway and I am sooooo glad that I did. Hopefully you will find another option that is better. Good luck!!!

I have my solution. I have devised, with the help of my lovely boyfriend, an aggressive savings plan. I currently have the cost of the surgery plus a bit more available in savings. I am going to forgo the financing and use that. By the time my surgery rolls around, I will have half of my savings recouped. Not the figure I was shooting for by Jan 15, but enough for emergencies, etc. It made more sense to use that as opposed to shelling out another 3k.

Now, to mourn for my Sephora addiction. And Amazon. And Zulily. But my health is more important than makeup, unnecessary plastic objects and clothes.

I would like to thank EVERYONE for their comments. Without them, I may have made a rash (and costly) decision!

That sounds so much better! I hate to see people taken advantage of by predatory lenders.

@shizwiz:I was late to discover this thread and read it with growing disquiet because I was afraid that you were headed for serious trouble. I am so glad that you reconsidered that horrid loan. Your new plan seems so much safer. Any company offering loans on terms like that should be avoided.

Thank you! I think you're right. Someone mentioned loan shark earlier and...yeahhhhhh. So happy to go have had a learning experience with great input from the cyber world.

I am kicking myself in the tookus for not FIRST using my noggin to create the savings plan, but, hey.... heh heh.

I think I'm going to do the same thing, save some extra through December and see if I can cover at least half of the trip without touching my savings. I'll get the tickets with my credit card, and will get the remaining 2k from savings

That is such a better plan! So glad you figured out a way to make this happen without all the added financial stress. You won't regret it. Like I said, Once I decided to have surgery, my "truck down payment account" became my "WLS account". And I don't mind driving my skinny butt around in my old rust bucket at all!

Yep! When my boyfriend said 'why add debt when you really don't have to?' I kind of looked like the squishy alien toy from Toy Story saying 'ohhhhhhh'.

I am more comforable now and feel right about it.

Hee hee I was saving partly for a new car, too! Heh hehe.

Can you get a co signer? I used the same company and didn't have the $2000 fee. They actually let me have 2 cosigners.

Really?! I wonder why? I guess it could be because of my credit score (mid 600s).

I am just going to pay cash though at this point. Glad to hear you didn't get charged as much as I would have been!!!

I went through prosper.com

5% fee off the top, 23% for 5 years... but they still beat citerra, and rather than the 'open ended' loan term, it is fixed rate.

You have to have at least a 640 to qualify with them.

That's still insane. I can't believe it's even legal. I don't know how much you borrowed, but with those terms you'd end up paying $8600 for a $5000 loan. 72% more than just saving up and paying cash.