timeforme Posted May 7, 2008 Report Share Posted May 7, 2008 I am a Newbie!! I am in the beginning process of this journey and would like to know some ways you all have financed it. I am just looking at various options. I am currently waiting for a phone call to discuss my goal BMI. I would love to hear some feed back on how the process went from making the decision to go foward with the Band and where you are at now. Can't WAIT!!!! Tracie Link to comment Share on other sites More sharing options...
calicat Posted May 7, 2008 Report Share Posted May 7, 2008 I took a draw off the line of credit on my house. That way I can pay what I want, when I want. I used Paypal and paid it to OCC in one lump sum to save the $300 paypal fee later. Hope that helps! Link to comment Share on other sites More sharing options...
Thinkinthin Posted May 8, 2008 Report Share Posted May 8, 2008 I borrowed against my retirement fund. No penalties and very low interest as I pay it back monthly!! Nancy Link to comment Share on other sites More sharing options...
The Redhead Posted May 8, 2008 Report Share Posted May 8, 2008 I took out a loan with my bank at prime rate interest. I'm hoping to pay it off by the time I want a tummy tuck and then I'll finance that too. Link to comment Share on other sites More sharing options...
Bobbi Posted May 8, 2008 Report Share Posted May 8, 2008 I took a loan out with one of the finance companies on Dr. Ortiz's sight. Low interest rate and 4 years to pay back. Link to comment Share on other sites More sharing options...
tehudson Posted May 8, 2008 Report Share Posted May 8, 2008 My wife and I each contributed the maximum amount to Flexible Spending Accounts through our respective jobs. By doing it that way, even though insurance didn't cover the procedure, the dollars spent were completely tax free. When you open a flexible spending account, you agree to contribute a specific amount (up to $5000) over the course of the calendar year. If, for example, you get paid 26 times each year and your FSA is for $5000, $192.31 is held out of each check, pre-tax. Because you are being taxed on fewer dollars, your take home pay doesn't actually decrease by $192.31. Additionally, if you've agreed to contribute 5k over the course of the year, and you turn in a bill or a receipt for 5k for a procedure that has been performed -- for example on January 20 -- you get reimbursed within 2 weeks for the entire amount. You have access to the entire amount from day 1 of the year, even though you won't have contributed enough to cover it until the end of the year. Here's an IRS link: http://www.irs.gov/publications/p969/ar02.html#d0e1967. And yes, it works if you have surgery in Mexico -- and you can also use it to pay for fills. Link to comment Share on other sites More sharing options...
sunnee01 Posted May 8, 2008 Report Share Posted May 8, 2008 I am a Newbie!! I am in the beginning process of this journey and would like to know some ways you all have financed it. I am just looking at various options. I am currently waiting for a phone call to discuss my goal BMI. I would love to hear some feed back on how the process went from making the decision to go foward with the Band and where you are at now.Can't WAIT!!!! Tracie I also took a draw from my retirement fund. Unfortunately, I found out today that I may not get the last $2K in time...I will hold out as long as I can before I have to reschedule..I will be so disappointed.. ( Link to comment Share on other sites More sharing options...
bandgroupie Posted May 8, 2008 Report Share Posted May 8, 2008 My husband paid for my surgery but wanted me to sign an agreement that I wouldn't divorce him afterwards. Not a chance I am a Newbie!! I am in the beginning process of this journey and would like to know some ways you all have financed it. I am just looking at various options. I am currently waiting for a phone call to discuss my goal BMI. I would love to hear some feed back on how the process went from making the decision to go foward with the Band and where you are at now.Can't WAIT!!!! Tracie Link to comment Share on other sites More sharing options...
MamaMichelle Posted May 8, 2008 Report Share Posted May 8, 2008 Lol bandgroupie, I have actually heard that some spouses of WLS patients who end up being really successful do become resentful since their once heavy/unattractive mate is now confident and attractive... My husband also offered to pay for my surgery (out of his poker winnings for the year so far) I only had to promise not to give him a hard time about staying out late to play poker after work. DEAL!! Link to comment Share on other sites More sharing options...
dimples1966 Posted May 8, 2008 Report Share Posted May 8, 2008 I sold some of my stock my grandfather left me. Must admit I fill a little guilty using the money for me. Link to comment Share on other sites More sharing options...
mona-camille Posted May 8, 2008 Report Share Posted May 8, 2008 I borrowed from my 401k. I figured if I didn't do the surgery, I wouldn't be around to enjoy the 401 k so I may was well borow from it to make sure i see the whole thing! I only wish I would have decided to do that last year instead of crying for a year over my insurance not paying it. Link to comment Share on other sites More sharing options...
vluck Posted May 8, 2008 Report Share Posted May 8, 2008 What I did was open a credit card with 0% interest for a certian time. When the introductory rate goes up I transfer to another credit card. You can always find a good rate as long as you pay on time and stick to the stipulations. I was able to find a discover that was 0% intrest for the life of the loan as long as you make 2 purchases every month. I go to the gas station and fill $1.05 twice and I'm good for the month. Also, I get 5% back when I buy gas. That cuts into the 14% I'm paying in interest for the $2.10 I accrue every month. I've finanaced alot of things this way. Do you have a good credit score? This only works if you stay on top of everything. If your not good about that then definately DO NOT go that way. Good luck. Link to comment Share on other sites More sharing options...
timeforme Posted May 8, 2008 Author Report Share Posted May 8, 2008 I took a loan out with one of the finance companies on Dr. Ortiz's sight. Low interest rate and 4 years to pay back. Thanks for answering my questions, everyone! How is the interest rate on the amount you financed thru the company on Dr. Ortiz's site? Link to comment Share on other sites More sharing options...
Bobbi Posted May 8, 2008 Report Share Posted May 8, 2008 Thanks for answering my questions, everyone! How is the interest rate on the amount you financed thru the company on Dr. Ortiz's site? It was 8.75, but I have excellent credit rating. Payments are $225.00 a month for 4 years, no penalties to pay off early, Link to comment Share on other sites More sharing options...
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