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Old 15.08.2021, 10:53
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Taking Out a Loan for Surgery

Good Morning folks,

I have an upcoming surgery that will cost 18,000 CHF. It must be paid in full prior to the surgery, so I will schedule it when I pay.

Currently my income is 85,000 CHF per year, and the 3-month probationary period finishes in early September. It's a full-time permanent position with a large Swiss bank.

I'm a Swiss citizen living in the country for 8 months now. I've never taken out a loan before, so I'm curious how I should go about doing this:

- Would I get approved?
- Should I wait til the probationary period is over?
- Which bank should I do this at? The one I work for perhaps?
- What is the process of getting a loan? Proof of income, ausweis, etc.

Any help or advice would be appreciated;

Thanks
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Old 15.08.2021, 10:55
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Re: Taking Out a Loan for Surgery

Don't you have insurance?

Do you have security for a loan?

How long have you lived here?

Tom
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Old 15.08.2021, 10:58
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Re: Taking Out a Loan for Surgery

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Don't you have insurance?

Do you have security for a loan?

How long have you lived here?

Tom
Yes I have health insurance. I'm not sure what you mean by "security for a loan"

Been living in Zurich 8 months as a citizen. Also spent 6 months in Bern back in 2019.
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Old 15.08.2021, 11:09
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Re: Taking Out a Loan for Surgery

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Yes I have health insurance.
Then why do you need a loan?

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I'm not sure what you mean by "security for a loan"
Nobody is going to give you an unsecured loan when you've only been here a few months.

Tom
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Old 15.08.2021, 11:30
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Re: Taking Out a Loan for Surgery

Nip & Tuck wouldnt be covered.
If thats what you are planning, you might want to wait until you are financially stable.
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Old 15.08.2021, 11:31
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Re: Taking Out a Loan for Surgery

Is this surgery suggested/approved by your GP/specialist? If so, then your health insurance should cover it. If this is something you're doing off your own bat, then no it probably won't, though you could ask your insurers if they would.

Security for a loan would be something like pledging your car as security if you can't/won't pay the load back in the required time. In which case the bank will have your car seized and sell it to pay off your debt to them.
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Old 15.08.2021, 11:32
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Re: Taking Out a Loan for Surgery

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Yes I have health insurance. I'm not sure what you mean by "security for a loan"

Been living in Zurich 8 months as a citizen. Also spent 6 months in Bern back in 2019.
So the op costs about 180,000 and your part is 18,000??

No organisation gives loans with security. ie, they will guarantee to get their loan back, so if you don't have 18,000 worth of something, you ain't getting a loan...
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Old 15.08.2021, 11:34
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Re: Taking Out a Loan for Surgery

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Yes I have health insurance. I'm not sure what you mean by "security for a loan"

Been living in Zurich 8 months as a citizen. Also spent 6 months in Bern back in 2019.
A house, a Rubens-painting, a Michelangelo statue -anything they can take off you if you don't repay.

Unless it's a beauty-operation there is usually no need to pay yourself.
For a beauty-operation I would suspect they won't give you a loan.

If you're married without separation of property contract you also need the okay from your partner to take a loan.
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Old 15.08.2021, 11:35
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Re: Taking Out a Loan for Surgery

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So the op costs about 180,000 and your part is 18,000??

No organisation gives loans with security. ie, they will guarantee to get their loan back, so if you don't have 18,000 worth of something, you ain't getting a loan...
The 10% deduction ends at 7000.00/year. So 7K plus franchise would be the most OP has to pay.

edit: Wrong! See further down. 700.00 plus franchise is the most OP has to pay

Last edited by curley; 15.08.2021 at 13:26. Reason: correcting the info
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Old 15.08.2021, 11:38
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Re: Taking Out a Loan for Surgery

And if this https://www.englishforum.ch/finance-...ollection.html
has left you with an entry in the debit registry it will almost be impossible to obtain a loan.
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  #11  
Old 15.08.2021, 12:07
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Re: Taking Out a Loan for Surgery

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Good Morning folks,

I have an upcoming surgery that will cost 18,000 CHF. It must be paid in full prior to the surgery, so I will schedule it when I pay.

Currently my income is 85,000 CHF per year, and the 3-month probationary period finishes in early September. It's a full-time permanent position with a large Swiss bank.

I'm a Swiss citizen living in the country for 8 months now. I've never taken out a loan before, so I'm curious how I should go about doing this:

- Would I get approved?
- Should I wait til the probationary period is over?
- Which bank should I do this at? The one I work for perhaps?
- What is the process of getting a loan? Proof of income, ausweis, etc.

Any help or advice would be appreciated;

Thanks
I assume this is non-essential and/or cosmetic surgery? I can't think otherwise why you would need to pay 18'000 CHF.

If it is indeed not essential, maybe it could be useful to wait until you can afford it and don't need to take out a large loan (proportional to your salary)?
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Old 15.08.2021, 12:21
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Re: Taking Out a Loan for Surgery

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The 10% deduction ends at 7000.00/year. So 7K plus franchise would be the most OP has to pay.
No it ends at 700 a year. So the max you pay is franchise plus 700.
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Old 15.08.2021, 12:25
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Re: Taking Out a Loan for Surgery

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I have an upcoming surgery that will cost 18,000 CHF. Currently my income is 85,000 CHF per year, and the 3-month probationary period finishes in early September. It's a full-time permanent position with a large Swiss bank.
Would I get approved?
You know this, you work for a bank
Should I wait til the probationary period is over?
You know this, you work for a bank
Which bank should I do this at? The one I work for perhaps?
You know this, you work for a bank
What is the process of getting a loan? Proof of income, ausweis, etc.
You know this, you work for a bank

Would you get approved? Wasn't there some comment about how you were going to do jail time because you were broke? That would suggest you have no assets, so no, you probably won't get approved.

Should you wait until the probationary period is over? Yes, you should. You might not have a job after = debt you can't service = possibly more jail time.

Which bank? Any bank that is likely to lend money to somebody who has no assets, no job security (as yet) and can't handle money. I'm all out of recommendations.

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I got a letter from the "Stadtrichteramt" that I owe them 430 CHF for a train ticket from 2 years ago that I forgot about. It is my due August 5th, and I don't get paid again for another month. So here's what I'm thinking:

I've heard that you can serve some time in jail to "pay" off a debt collection. I've spent some time in the Zurich drunk tank back when I was unemployed, so I'm familiar with the system. Solitary confinement sucks, but I'll suffer for a bit if it involves getting this debt collection paid off.
What's the process? Just ask the bank who'll offer you the loan. They'll give you a brochure detailing the process step-by-step.
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Old 15.08.2021, 12:40
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Re: Taking Out a Loan for Surgery

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No it ends at 700 a year. So the max you pay is franchise plus 700.
That's correct. The 10% max is 700.00.
With 7K I meant the bills.
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Old 15.08.2021, 12:42
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Re: Taking Out a Loan for Surgery

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Would I get approved?
You know this, you work for a bank
Should I wait til the probationary period is over?
You know this, you work for a bank
Which bank should I do this at? The one I work for perhaps?
You know this, you work for a bank
What is the process of getting a loan? Proof of income, ausweis, etc.
You know this, you work for a bank......
You totally over-estimate people who work for banks.
I have to correct what they tell me on regular basis.
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Old 15.08.2021, 12:49
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Re: Taking Out a Loan for Surgery

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You totally over-estimate people who work for banks.
I have to correct what they tell me on regular basis.
I wasn't being entirely serious.
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Old 15.08.2021, 12:54
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Re: Taking Out a Loan for Surgery

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.....
- Would I get approved?
- Should I wait til the probationary period is over?
- Which bank should I do this at? The one I work for perhaps?
- What is the process of getting a loan? Proof of income, ausweis, etc.
.....
Well, let's say it's a beauty-treatment you're bank might give you that loan without hesitation.
And if they do, you know it's a good plan.
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Old 15.08.2021, 13:11
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Re: Taking Out a Loan for Surgery

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Would I get approved?
You know this, you work for a bank
Should I wait til the probationary period is over?
You know this, you work for a bank
Which bank should I do this at? The one I work for perhaps?
You know this, you work for a bank
What is the process of getting a loan? Proof of income, ausweis, etc.
You know this, you work for a bank
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You totally over-estimate people who work for banks.
I have to correct what they tell me on regular basis.
Hesitated to speculate why the OP was contemplating a CHF 18k operation out of pocket. As others have pointed out: either unnecessary/cosmetic or a genuine misunderstanding about how things work here.
That the OP as a newbie banker on the fast track can’t look into internal processes for his own benefit might raise a few issues. However, as long as critical clients such as Curley are prepared to question received advice – all is not lost!
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Old 15.08.2021, 13:14
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Re: Taking Out a Loan for Surgery

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I wasn't being entirely serious.
Not entirely
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Old 15.08.2021, 13:17
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Re: Taking Out a Loan for Surgery

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....However, as long as critical clients such as Curley are prepared to question received advice – all is not lost!
Not how it feels though. I'm telling you, it's a darn struggle at times.

If they carry on like that we will soon keep our money in the mattresses again.
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