I'm thinking about taking out a loan but if I do then it won't account more than 30% of the estimated cost of surgery. Anyway I will be unlikely go to Dr. Paley so I hope I don't need to borrow that much.
In theory you can stiff a creditor and have it off your record in 7 years but... your life is now on hold for 7 years minimum. You're not buying a home to start a family, even renting is going to be a bitch. Youre going to be on mommy and daddy's titty into your 30's. No business loans. And when it rolls off your credit you still dont have credit established because you dont have a credit card. So its going to be many years past the 7 before you have a normal persons standing.
Also if something goes wrong with your surgery youre out of luck. And also you need to get the nails out and that costs money. Some jobs check credit but not many. But if you work in the financial sector its a risk to have sh!t credit. So those are the risks.
I've maxed out my credit card they gave me 7% apr. So about 5k on stuff I need while I have the surgery done. Check with a few credit card companies that can give u good rates. But not sure about 90k though.
Taking loans out is hard financially, if your able to pay out of pocket is best no interest rates.
Quote from: lessthanavg8300 on August 25, 2023, 07:48:43 PMIn theory you can stiff a creditor and have it off your record in 7 years but... your life is now on hold for 7 years minimum. You're not buying a home to start a family, even renting is going to be a bitch. Youre going to be on mommy and daddy's titty into your 30's. No business loans. And when it rolls off your credit you still dont have credit established because you dont have a credit card. So its going to be many years past the 7 before you have a normal persons standing.
Also if something goes wrong with your surgery youre out of luck. And also you need to get the nails out and that costs money. Some jobs check credit but not many. But if you work in the financial sector its a risk to have sh!t credit. So those are the risks.
The question I have with not paying back the loan is wouldn't you need to be living a poverty tier existence for those 7 years as in no assets otherwise creditors would take them to recover the debt?
I took a loan out from lightstream (you could also do sofi) and borrowed money from family. Dm me if you want details. I agree tho 30 is a good time to do it. Its not too early nor too late.
Quote from: 1team on September 02, 2023, 05:50:11 AMThe question I have with not paying back the loan is wouldn't you need to be living a poverty tier existence for those 7 years as in no assets otherwise creditors would take them to recover the debt?
Correct. When you file for bankruptcy the courts evaluate everything you have. They take everything you have. And only then are your debts extinguished.
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