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Has anyone taken out a loan in order to fund their LL?

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theshortman11
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Posts: 409
Joined: Aug 2023
Posted on Aug 23, 2023, 12:55 am
#1
I'm 30 now, I dont have much time left. I think it's the right thing to do to take out a loan to fund this. I have very good credit never been in debt so I think it will pass.
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theshortman11
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Posts: 304
Joined: Aug 2023
Posted on Aug 23, 2023, 2:18 am
#2
Quote from: fhi688 on August 23, 2023, 01:53:00 AMYeah I maxed out my cards and never paid them back, partially to fund this.

As you'll expect, my credit score is nuked, but I'm taller. No regrets.
Total cost and end height? Where did you get it done? My logic is the height will pay for itself, you'll get more jobs dates etc
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M
Maison
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Posts: 286
Joined: Apr 2019
Posted on Aug 23, 2023, 2:38 am
#3
In the article  https://www.gq.com/story/leg-lengthening
it's stated that 'Personal financing is available through SoFi, the online bank. John took out a loan for his femurs—$1,200 a month for the next five years.'
This shows that patients in US can take out loans for LL surgery.

However, there's the possibility that complications from LL surgery might prevent patient from working for several years, and many loan companies might be reluctant to lend money for this surgery.
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theshortman11
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Posts: 477
Joined: Aug 2023
Posted on Aug 23, 2023, 2:39 am
#4
Quote from: fhi688 on August 23, 2023, 02:23:24 AM$50k, 180cm.

I'm sure it will pay for itself since it wasn't me that was paying, it was the bank!

Consequences are well, I can't get a mortgage until the statute of limitations on debt expires in 7 years or so and it falls off my record. Wasn't planning on getting one anyway so it was a free hit really.
What country did you get this done? I'm looking into PRECICE 2 in Korea which will be around 90k. Did you do LON?
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1
1team
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Posts: 355
Joined: Jul 2022
Posted on Aug 23, 2023, 5:09 am
#5
Quote from: fhi688 on August 23, 2023, 02:23:24 AM$50k, 180cm.

I'm sure it will pay for itself since it wasn't me that was paying, it was the bank!

Consequences are well, I can't get a mortgage until the statute of limitations on debt expires in 7 years or so and it falls off my record. Wasn't planning on getting one anyway so it was a free hit really.

How do you get around having your wages garnished? Do you not work for the next 7 years?
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GrowGrow123
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Posts: 382
Joined: Jun 2023
Posted on Aug 23, 2023, 5:54 am
#6
It really depends on the amount. I don't see any bank or financial institution lending you 90K without any assets to borrow against (like a house or a 401K portfolio).

Maxing out a bunch of credit cards works as long as you don't have any assets to lose. Declaring bankruptcy clears your debt, but they'll go after any assets you have before doing so. Nukes your credit score for a while, but probably doesn't matter as long as you weren't planning on making a big purchase like a new car anytime soon.
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jerrytheman
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Posts: 146
Joined: May 2023
Posted on Aug 23, 2023, 5:59 am
#7
Quote from: GrowGrow123 on August 23, 2023, 05:54:09 AMIt really depends on the amount. I don't see any bank or financial institution lending you 90K without any assets to borrow against (like a house or a 401K portfolio).

They do, I borrowed over 300k to pay taxes in 2022 and they didnt take anything as collateral. But their interest was insane, like 16% APY when the fed rate was still super low and you can secure loans at 3%. I'm pretty sure sofi is at like 25+% for a loan that big now.

And you can say you'll just default and wont pay back. But they arent dumb, they wont give such a big loan unless you have a stable high paying job to back it up and good credit. So it's not like some random person can grab $100k and just go bankrupt to start over.
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theshortman11
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Posts: 414
Joined: Aug 2023
Posted on Aug 23, 2023, 6:33 am
#8
Quote from: jerrytheman on August 23, 2023, 05:59:55 AMThey do, I borrowed over 300k to pay taxes in 2022 and they didnt take anything as collateral. But their interest was insane, like 16% APY when the fed rate was still super low and you can secure loans at 3%. I'm pretty sure sofi is at like 25+% for a loan that big now.

And you can say you'll just default and wont pay back. But they arent dumb, they wont give such a big loan unless you have a stable high paying job to back it up and good credit. So it's not like some random person can grab $100k and just go bankrupt to start over.
300k in taxes are you a multimillionaire??
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jerrytheman
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Posts: 464
Joined: May 2023
Posted on Aug 23, 2023, 7:40 am
#9
Quote from: theshortman11 on August 23, 2023, 06:33:25 AM300k in taxes are you a multimillionaire??

I paid a lot more than 300k, I just took out a 300k loan. And yes, is pretty common in the bay area (in tech).
But also 2021 was just an exceptional year for stocks, I dont typically pay THAT much taxes.
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D
DanishViking
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Posts: 124
Joined: Jan 2023
Posted on Aug 23, 2023, 11:33 am
#10
I personally don't see it be worth taking a loan for. Just save as much as you can of what you earn, and then do the precice nail on femurs for most bang for your buck with dr Giotikas or Afa. That's will save you like 25000 dollars without any big downside.
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