Poor credit loan for emerging physician

[Subihabi]

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Does anyone know where I can get a private loan for $15,000?
I am completing residency in a few months and have a signed contract to start a new job in September; I have poor credit (580) and I owe my bank $7000.I am going through some rough times and I have stopped making my monthly payments on most of my debts, and the ones I am making, are being paid late.I have tried to get a few necessary loans, but I am constantly denied because of my bad credit. (I have tried Suntrust). Please help.

 

[The White Coat Investor]

Does anyone know where I can get a private loan for $15,000?
I am completing residency in a few months and have a signed contract to start a new job in September; I have poor credit (580) and I owe my bank $7000.I am going through some rough times and I have stopped making my monthly payments on most of my debts, and the ones I am making, are being paid late.I have tried to get a few necessary loans, but I am constantly denied because of my bad credit. (I have tried Suntrust). Please help.

Why would someone loan you money? Would you loan yourself money? The reason you have poor credit is that you don't pay your creditors as agreed. I suggest struggling through until your attending job kicks in in a couple months and then continuing to live as cheaply as possible and begin paying these loans back. Sleep on a friend's couch, eat and shower at the hospital etc. More loans is not the solution. I hope none of these loans are credit card loans, because if they are the rate has probably been jacked up to 30% a year and you now have fees and late penalties accruing in addition. All the more reason to get them paid off ASAP. You'll need to continue living like a resident for a while. Lucky for you, your earnings power will probably bail you out if you can just keep your head above water for a few more months. A lot of people in your situation end up declaring bankruptcy because they don't have any earning power.