Magical Credit Specializes in Personal Loans for Bad Credit Applicants. Apply now in 5 minutes or less!

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Bad Credit Loans in Nunavut!

From an outgoing credit card balance, to business loans you just couldn’t keep up with, there’s plenty of reasons you may have bad credit. Getting a loan from the bank just won’t happen, and payday lenders will be salivating at the scent of a vulnerable borrower.

Magical Credit specializes in online loans for bad credit applicants. If you’ve hit a few financial bumps in the road, but you’ve been discharged from any bankruptcies and consumer proposals, you may be considered for one of our bad credit loans.

Don’t make your bad credit worse by missing loan repayments. Calculate your schedule with our personal loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why to Take Out Bad Credit Loans in Nunavut

  • Rent– Landlords don’t appreciate missed rent. Instead of letting your financial hiccup strain your tenancy, just apply for one of our bad credit loans, and stay on your landlord’s good side.
  • Transportation – Whether it’s a Bombardier or a Bentley, you need your vehicle fully functioning on the snow and the roads. Regardless of finances, your vehicles need to be fully functioning. A bad credit loan can cover the costs of repairs.
  • Debt Consolidation- Who needs multiple consumer debts when you can turn them into one, easy-to-track loan? Our bad credit loans for debt consolidation will turn your many debts into one loan.
  • Electronics Repair/Replacement – A small bad credit loan from Magical Credit can help fix/replace your malfunctioning electronics—even if you’ve just been discharged from a bankruptcy.

FAQs for Bad Credit Loans in Nunavut

Do you loan to applicants who’ve just been discharged from bankruptcy?

Yes—we accept applicants who’ve been discharged from bankruptcies, as long as they’re receiving an income of at least $600 a month via direct deposit. Please note, we won’t accept applications if you have other loans in collections.

So, I can get a loan with bad credit?

Yes, you can get a loan with bad credit. In fact, we specialize in online loans for bad credit applicants! As a high-risk lender, we weigh your overall report of credit instead of just your credit score.

Do you lend to people collecting unemployment insurance?

Provided your EI payments are direct deposit and you’re collecting at least $600, you may be eligible for one of Magical Credit’s bad credit loans.

Will you lend me $11,000?

No—we only loan up to $10,000. But you can apply for a $10,000 loan, and seek the rest of the money elsewhere.


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.