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How to Qualify for a Personal Loan

by Natalie Bell

Applying for an unsecured personal loan can be a complicated process - especially if you have less than perfect credit. Our simple guide walks you through the process of qualifying for a personal loan step by step.

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Getting a Personal Loan After a Consumer Proposal

In this article, we’ll be examining how consumer proposal impacts your ability to be approved for loans, what you can do to discharge your proposal more promptly, and how Magical Credit can help you fix your credit rating after you’ve met the obligations of your consumer proposal.

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Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate ranging from 3.4%-20% per month.

Example: $1,500 borrowed for one year at 3.4% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.

NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.

691 people applied for a loan with us in the last 7 days
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