NSW loans?

Garfield99 wrote:

Super I totally regret.  You have to pay to get your money out, then you have to pay tax on that, then it's considered income so your income at the end of financial year is affected, so if you are receiving any government benefits, they will be affected.  And to totally screw me over, I had to refund child support received because I apparently earned too much that year.  I explained over and over until I was blue in the face what it was for - but they deem it as income, so I would never recommend it.

Wow Garfield thanks for sharing that- that really sucks, sorry to hear the hassle you went through over it.  I asked about it today, was told I'd be taxed 21% on whatever I took out of super.  Far out!!! Then on top of that, what you've written makes it far more expensive.

Oh Garfield,

I hate some areas of bureaucracy so much!!! That is a truly disgraceful example of how its inflexibility can be completely ridiculous!

I wonder if there is an ombudsman or something for Centrelink.  I hope you then claimed the over the medical expenses threshold tax rebate when you put your tax return in.

Super I totally regret.  You have to pay to get your money out, then you have to pay tax on that, then it's considered income so your income at the end of financial year is affected, so if you are receiving any government benefits, they will be affected.  And to totally screw me over, I had to refund child support received because I apparently earned too much that year.  I explained over and over until I was blue in the face what it was for - but they deem it as income, so I would never recommend it.

Thanks to both!

Super- I need to think about this.  I think I'm swaying towards phi- that's a good safety net as you say- in case there are any complications.

Can't recommend anyone but I have just consolidated all my debts into a Citibank Rolling Credit Account for 5.9% for 2yrs which I thought was pretty good deal.  I am sure there are much better deals out there too.  

If you google medical loans you might have better luck there, or even have a chat to the surgery themselves, they might have they can recommend.

I will say though from my personal experience, I would get PHI, wait the 12 months to get the surgery because if anything goes wrong, you are covered (mostly).  Even with PHI & medicare, you can be out of pocket up to $10k easy.  Mine all up was about $8K for my revision.  Then if something goes wrong and you are back in hospital, then you won't be looking at bills that could easily hit $50K in no time, depending on what goes wrong. 

For example my sleeve failed and I almost went into organ failure, had emergency bypass and was hospitalised for 3 months.  Imagine the bill if I had no cover?  Then about 6 months after that I then had a revision, then gallbladder out - one after the other and each time, I was handing over my credit card for so much that wasn't covered.

What about using super?  There are heaps of threads on here that are useful if you wanted to go this way.

Can anyone recommend a good medical loan company- or are banks better? tips and advice appreciated :-)