Dental finance plans for cosmetic procedures

Dental finance has become increasingly popular over the last five years and many dental practices now offer payment plans and finance options to make treatment more affordable for patients.

Which practices offer finance plans?

Many practices offer dental finance plans, but not all do; NHS dental surgeries do not offer finance and some private dental clinics may not offer finance options; the best thing to do is to contact the practice directly and ask about the services they provide; most dental clinics also have websites and you can usually find details of finance options for clients online.

Usually, finance plans are available for cosmetic and orthodontic dental treatments because they tend to be expensive and therefore patients are more likely to want to spread the cost, rather than paying the entire fee up-front.

What does a finance plan involve?

Dental finance plans are designed to make dental treatment more affordable; the exact arrangement depends on the individual agreement, but most involve paying a monthly fee towards the total cost of treatment over a set period of time. Many dental clinics offer zero per cent interest for a period of time, but this varies and you will need to check the details of your agreement to determine how much you need to pay over what period of time.

What are the benefits of a dental finance plan for cosmetic dental treatment?

The major benefit of a dental finance plan is that it makes cosmetic dental treatment more accessible. Especially in cases like a dental implant procedure, with the help of a finance plan, treatment is affordable for a wider range of people and clients are able to spread the cost over a period of time. This is as opposed to paying out a large sum of money in one go which for many people would be impossible, which means that they would not be able to have treatment at all.

How much will I pay?

The amount you pay depends on the cost of the treatment you have and the term of the arrangement (the period over which you make the payments). Your monthly payment and the total cost of your treatment will be shown in your finance agreement.

Completing a personal financial declaration

The lenders will ask for a personal financial declaration to support the decision to expand extra funds on a credit line. A Certified Public Accountant or representatives from a local bank can help the individuals in finishing a personal financial statement. Personal financial statements show information regarding the assets, expenses, sources of income and liabilities of an individual. Make sure you are using the right personal financial declaration form with your lender. In addition to this, the lender may request you to provide the necessary documents to support the information that are stated in the personal financial statement. This may consist of real estate appraisal, bank statements, recent pay stub and mortgage loan statement. If required, you may take personal finance advice from the financial experts.

Completing a personal financial declaration – Essential steps you need to follow

Here are discussed about the essential steps that you need to follow while completing a personal financial declaration.

Fill out the recognized details – While completing a personal financial declaration, you will have to fill out the recognized details. If the personal financial statement that you’re filing out is for yourself and your better half, make sure you include the recognizing details of both of you.
Make a list of each possession in the particular section – Your valuable home and any other real estate you possess should be listed at the present market value. The existing balance of all bank accounts, retirement accounts, investment accounts and the cash surrender value of all life insurance policies are included in this particular section.
Create a list of each liability in the section – You need to create a list of any asset owned as a form of security for a mortgage loan. This may consist of your home or car loan. The loans that are taken out against the value of life insurance policies, outstanding tax payments and other outstanding dues such as credit card bills are included in the particular section.
Provide the information of all income sources – You will have to provide the information of all income sources in the section. The income may consist of salary, bonuses, commissions, interest, dividend income, business or partnership income, investment income and rental real estate. If you earn profit by selling stock, you may include that as part of your investment income. The information need to be provided on yearly basis.

Provide information for all expenditures – The expenses consist of medical bills, child care, dental expenses, income tax payments, mortgage payments, property taxes, college saving plan and IRA. Many lenders may ask you to provide information for the portion of mortgage payments that go towards principal versus interest. Make sure you provide this information on yearly basis.

Thus, by following the above steps, you will be able to complete a personal financial statement successfully.

Tips to Refinance Your Student Loan

If you have been independent since your college days, you surely have taken student loans, which you are repaying up to now. Logically, loans and debts get costlier the longer they remain. For you to finally move on and forward, you need to eliminate any outstanding student loan that may be functioning as a burden to you now.

It is good news that refinancing is now possible and applicable for student loans. Why not take a new loan to repay or consolidate all your student loans when the interest rates and fees implemented are lower? The intensifying competition among various loan providers makes the current lending market all the more attractive. It is time to consider refinancing your student loans. Here are five helpful tips that could be of help.

Check your credit score. It would be best if your credit score is high. That is because products for refinancing student loans are just like other types of loans: loan providers approve and provide amounts based on credit history. Thus, when you have plans to refinance a student loan, you should bolster your credit months before your effort. If there are inaccuracies in the report, you should immediately seek corrections. Your good credit standing would qualify you for more competitive rates and lower fees.

Choose refinance loans with lower rates. Two types of loans could be tapped: federal and private. Logically, federal loans come with lower rates but the requirements could be stricter. You may also consider refinance loans with longer terms, which come with lower rates. Many competitive private loan providers also offer more attractive rates and costs.

Check and prepare all documentary requirements before applying for a refinance loan. It usually takes time for any borrower to verify eligibility requirements. Take note that different lenders have varying standards and requirements that should be met to make any loan applicant qualify for refinance loans. It would be best if you would not encounter any hassle when asked to submit documents as part of the refinance loan process.

Understand your rights as well as responsibilities before applying for and obtaining a refinance loan. You must fully understand all the rights and responsibilities that are usually imposed when taking a new loan before signing any loan contract. Again, take note that student loan repayment could be reduced by getting lower interest rates, prolonging the repayment term, or both. Review available options before making a decision.

Compare discounts and incentive offers from different loan providers. You would be surprised at how numerous lenders offer considerable markdowns for early payment, automatic or direct draft payment plans, and of course on-time payment. Imagine how much discount you could secure if such incentives and conditions are combined. Reducing rates by up to 1% or more would mean a lot to you.
Refinancing student loans could be quite easy. Through these five tips, you could surely find and obtain an ideal refinance loan so you could finally pay off and clear all your outstanding student loans.

Having worked in the refinance industry for several years, Andrew likes sharing his tips online. He is a specialist in low doc loans and debt management.