Tough to swallow ~14% APR AND counterparty risk.  Best case scenario bitcoin far outperforms the APR and your lender doesn't go broke. Worst case scenario? Lender blows up and you lose all your collateral. 

 Yes lots of trade offs for certain, but if looking back if I had taken out loans rather than sell I'd be better off today. 

 remember blockfi?  imagine scrambling to pay off the loan and move your coins before bankrupt.. never forget.. many rekt. 

 No doubt. It's scary, but ledn did weather that storm.

Also if the company you owe the loan to is the one that defaults I think it's a different scenario.