Infertility treatment financing options do exist for people with bad credit. You have to know where to look, and take steps prior to conception to secure your income so that you do not make matters worse.

Borrowing money so that you can subsequently lose income during maternity leave is risky.

Unbelievably, some couples can also use a common employee benefits program to get an interest free infertility loan with bad credit, and can never stain your consumer report.

  1. Borrow from lenders who do not ask why you need money
  2. Create financing security before beginning your next cycle
  3. Leverage an interest-free loan that requires no inquiries

Infertility Financing Bad Credit Options

Many infertility treatment financing options are a recipe for bad credit. Couples either start out with a poor payment history, or they may end up with one later on. When mom conceives, the family often experiences increased expenses, coupled with lost income during an unpaid maternity leave.

Before borrowing money, make certain you take steps to protect mom’s income prior to your next cycle. You must take this step before conception and not after.

Finance Companies

Request an infertility loan to get started. The lender will not ask the reasons why you need the money. If a lender knows that you are using the funds to pay for procedures that impregnate mom, they may charge higher interest rates, or decline your application knowing that lost income looms on the horizon.

Choose between three options.

  1. Installment loans that allow you to borrow up to $3,500 and sometimes more.
  2. Payday loans that provide high approval rates for people with bad credit
  3. Title loans all you to borrow up to $25,000 if you own a car

The ultimate companies providing infertility treatment financing for people with poor credit histories do not identify themselves until you apply. Most publish branded names designed to attract clients from specific market niches.

  • Advanced Reproductive Care (ARC) provides infertility financing for couples using their professional services and fertility drugs. However, they do not provide the funding. They refer patients to partner companies.
  • Capital One publishes on its website that they are no longer accepting health care financing applications. Now you know why.
  • Springstone is a subsidiary of the Lending Club, which is an online marketplace, not a finance company.

In Vitro Fertilization

Financing In Vitro Fertilization (IVF) with bad credit is very tricky due to the high cost of this medical procedure. Each IVF cycle averages fifteen thousand dollars, and couples often need multiple cycles with no assurances of bringing home a baby.

Read more about paying for IVF in another section of this site.

Financing Security

Any financing program requires a future income stream in order to make the monthly payments in a timely manner. An increase in expenses may hamper a couple’s ability to repay the balance. Lost income during maternity leave compounds the problems.

Supplemental health insurance for infertility can secure mom’s income during maternity leave, and provide the needed security to help make your monthly payments on time.

Do not assume that your state will automatically replace your income, or that your job is secure during a high-risk pregnancy, or while on maternity leave. Federal family leave laws provide unpaid leave and do not apply to everybody. Some states provide additional protections but most do not.

  • California – does provide generous income and job protection benefits
  • Colorado – nothing
  • Florida – nothing
  • Georgia – nothing
  • Illinois – nothing
  • Michigan – nothing
  • Missouri – nothing
  • Minnesota – nothing
  • New Jersey – provides generous income and job protections
  • New York – provides only $170 per week income replacement benefit
  • North Carolina – nothing
  • Ohio – nothing
  • Pennsylvania – nothing
  • Texas – nothing
  • Utah – nothing

Interest-Free Infertility Personal Loan Program

If your employer offers Flexible Spending Accounts (FSA), you have an interest free infertility loan right under your nose. You have a rare opportunity to plan an unreimbursed medical expense at a time most convenient for you.

You elect to contribute $5,000 to two FSA plans for the year beginning January 1 and to make contributions of almost $100 per weekly over the next year. You undergo infertility treatments on January 1, incurring $5,000 or more in costs. The entire $5,000 is payable immediately by your employer – before you make your first contribution.

Your obligation is to continue making $100 contributions over the next twelve months directly from your paycheck. Your $100 weekly pretax payroll deduction reduces the amount you pay in FICA, Federal, and State income taxes. A family might reduce their total tax payments by 1/3 using an FSA.

Minus 50% Interest Rate

This is how a couple could get a $5,000 interest-free infertility loan using their FSA. Only it is not interest-free. The actual interest rates could be as low as -51% depending upon income levels of the family!

A couple saving 1/3 in taxes would need to earn $7,500 in gross income to have $5,000 to make in loan payments. That equates to almost a minus 50% interest rate. Is there a better deal anywhere else?

Automatic Approval

A Flexible Spending Account provides infertility treatment loans with no approval criteria to meet. Anyone working for an employer that offers flexible spending to its employees meets the underwriting qualifications. If both husband and wife have jobs where employers offer an FSA, you may be able to double the amount.

Employers will not pull consumer credit reports. Even if your FICO score is very low, you get the loan. If one or both employees leave before repaying the FSA account, it does not affect your credit score. Employers do not provide this information to the consumer reporting agencies.

Military Members

Members of the military and their families currently do not have access to flexible spending accounts. The Defense Authorization Bill instructed the DOD to enable this option for military personnel but had acted when this article was written.

Meanwhile, any military personnel wounded during active duty may find some help. The TriCare health program may help make payments for selected infertility treatments if the wounds affect your reproductive organs.