[azure33]

Do adoption fees need to be paid in cash? We don't have much saved right now, but would be able to save more in the next year, as well as pay off any debt relatively quickly. Can we take out a loan for part of the adoption costs, or do we have to be able to pay in cash?

[ourdreamcametru]

Our adoption was private domestic and we were not looking to adopt so we didn't have anything saved. We took out a small personal loan to cover our cost but everything was spread out over several months so there was never a huge lump sum due at any one time.

[Linny]

Personally, I'd be afraid to pay anything about adoption in 'cash'. It's always good policy to make a document with it in the form of a check, (certified or personal) or, some people have paid adoption stuff with their credit card.

Sincerely,

Linny

[jaenelle]

Originally Posted by Linny

Personally, I'd be afraid to pay anything about adoption in 'cash'. It's always good policy to make a document with it in the form of a check, (certified or personal) or, some people have paid adoption stuff with their credit card.

Sincerely,

Linny

By "cash" I'm thinking they mean money they actually have on hand -- rather than credit cards, loans, etc. LIke writing a check when the funds are already in your checking account. Some people in the financial industry (myself included) may refer to checks and other non-credit forms of payment as "cash".

To the OP -- It's certainly fine to take out a loan or credit card for part or all of your adoption expenses. Just be sure you can pay it back timely -- the loan payments need to be able to fit into your post-baby budget. We took out a loan and used credit cards for most of our first adoption, which we will be paying off soon with the proceeds from selling our home at a profit. We are hoping that, for our second adoption in a few years, we can have most of the money saved. Don't forget to see if you qualify for the tax credit, too -- many people take out loans and then use the tax credit proceeds to pay off large portions of the loans.

[Linny]

Some people in the financial industry (myself included) may refer to checks and other non-credit forms of payment as "cash". --Jaenelle

You know.....I worked for awhile in a bank, doing everything but assuring loans. That's been a few years ago, but I swear, working there, teaching school, living for several years in the military and traveling/living in other parts of the world.....I've never heard of this, believe me!
Cash was always cash.....cold and final, period.
Thanks for educating me on this, for surely, I'd have never thought of that!

Sincerely,

Linny

[mylovebug]

We Had To Have A Cashiers Check In The Full Amount For The Placement To Take Place. We Did Take Out A Loan And Lots Of Friends And Family Members Donated To Help Cover The Expenses.