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01-24-2012 11:29 PM
I agree, start saving!
Also, look into dental discount plans. They aren't insurance, and maybe can lower the costs. I had this one for a short while: http://www.coastaldental.com/
01-24-2012 11:30 PM - last edited on 01-25-2012 07:57 AM by LilMirth
Yes I have 1 credit card $300 limit plus student loans I pay like $100 a month on. Plus a car payment on a mew car I got but im am second on the bill my mother co signed for me so I don't know how im second on it. The dentist I got estimate done by is [Mod Cut] a cosmetic dentist and there is veneers on the estimate but is just for my front teeth. I just figured I get it all done at once and he is the best dentist in st. Louis so if im going to spend that $ which is a very lot to me! Im only 25. Always paid for everything myself I own. I figured id het it done by a professional who knows what he's doing so I don't have to worry about it ever again.
I can see the logic behind wanting to get everything done at once - but with limited credit, it's just not a feasible goal for you right now.
Keep in mind that your credit card balance/minimum payments, your student loan payments and your car payment are all going to be counting against your debt-to-income-ratio already. I'll just assume you have a $300 car payment and the $100 in student loans. That's $400 out of your $2000 every month already spent. If you added a $500/mo payment from a dental loan to that, you'd be at $900/$2k. That's a 45% DTI. Having a DTI of over 40% (really, probably 30%+) is usually a sign that you're heading for trouble.
Also, living at home is actually a bad thing in this case. What if you have to move out on your own all of a sudden? Having to add an extra $500-1000 for rent and bills would bring your DTI to the point where you'd end up defaulting on debt.
01-24-2012 11:33 PM
But id say %80 of the work is crowns, and reparing the rotten teeth I have. Before its to late he said. My front teeth are the only ones that are in decent shape to say the least. When I was a kid/teenager I was very careless and drank nothing bit sugar and ate candy. I was irresponsible about my health if I could take it back I would but there's nothing I can do about it now.
That's true, and please don't think we're trying to criticize you here about it. We're just giving you honest advice about what's feasible credit-wise. You honestly cannot afford financing $25k in dental work right now. Start small, have them fix a few teeth at a time and go from there. Not to mention that if you get a loan for something like $5k and pay it off quickly and responsibly, it'll show lenders that you can be trusted with credit, and you'll have an easier time getting higher loans in the future.
01-24-2012 11:50 PM
01-25-2012 12:00 AM
Most dentists in the US charge hundred of dollars for a simple X-Ray. What a ripoff.
If it's an absolute need, consider saving the money and have it done oversea. If I don't have dental insurance, I would do the same.
01-25-2012 12:03 AM - edited 01-25-2012 12:04 AM
Should I not go to this expensive dentist? There is $18,500 work that needs to be done!! And the other $7500 is for the veneers he size I should get. Do you think I can get the $5,000 loan because everytime I reply they put a high inquiry on my report are sumthing and I already have 4 of them. I been trying to get another credit card to build credit but can't get one? Also why would my moms name be first on a car loan if she co signed for me and im second on the loan so does that mean im not the owner and im the co signer so im not even building credit? Thanks all you guys I really do appreciate your kindness and help. I understand your not trying to be harsh
When my FICO score was like yours, I was happy to just get a credit card with just a $500.00 limit, and my income was higher than yours. I had the Orchard card (well, I still have it). So, no..I don't think you can get a $5,000 unsecured loan or credit card.
If you co-signed with her on the car loan, you are both liable for the FULL loan amount (check your loan paperwork though).
01-25-2012 07:06 AM
Have you checked to see if there are dental schools in your area? If so, you could get the work done much cheaper. I believe a student does the work under the supervision of the instructer. With that kind of expense involved, you might want to get a second opinion as well.
01-25-2012 07:13 AM
Honestly, if your dentist is trying to push you to do cosmetic, you should find another dentist. Any ortho worth their pay will try to save all your current teeth before doing anything cosmetic. They also should be willing to work with you in stages and not try to get you to do everything at once. I'd personally find another dentist, ask them which ones need to be saved right now - and then see if you can work with them one at a time to save those teeth.
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01-25-2012 10:22 AM - edited 01-25-2012 10:27 AM
You could do the veneers on your top set of teeth first and then get the bottom ones later.
If you are going to spend 25,000 in dental work I would at least get a second opinion/estimate from another dentist to see what they say.
Maybe you would wait to apply for a loan until one of your 4 inquires are more than a year old. I would also suggest checking out a credit union for lower rates on a loan.