Recently discharged from bankruptcy in New Brunswick? Take out a Bankruptcy Loan in 5 minutes!

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Bankruptcy Loans in New Brunswick

Once you’ve been discharged from a bankruptcy, you’ll need to rebuild your credit fresh. Whether you want to finance a car, mortgage a home, or buy an engagement ring, you’ll need a decent credit score.

Magical Credit specializes in loans for bad credit applicants, including those who’ve been discharged from bankruptcy. Our loans are open – meaning you only pay interest to date, and not the full term if you choose to pay your loan early.

You can begin rebuilding your credit today by applying for a bankruptcy loan online!

Borrowing money after bankruptcy can be complicated, so make it a little easier by calculating your monthly loan payment schedule with our personal loan calculator!

I want to borrow:

< $2000 >

Why Apply for A Loan After Bankruptcy with Magical Credit?

  • Rebuild Credit – Promptly repaying debts with a bankruptcy loan from Magical Credit can recover your credit score by improving your debt repayment history!
  • Buy a Car – Getting an auto or personal loan after bankruptcy is no simple task. But hitchhiking to work every day isn’t a solution either. Magical Credit looks past your poor credit score so you can take out a loan to finance your new Chevy.
  • Bills – Unpaid bills mean collection agents will bully you and your already battered credit score. A bad credit bankruptcy loan in New Brunswick can cover costs when your bank account’s hurting after your discharged bankruptcy.
  • Debt Consolidation – Chances are you still have several consumer debts hovering over you, even after your bankruptcy’s been discharged. You can use a larger bankruptcy loan for debt consolidation in New Brunswick!

Bankruptcy Loans in New Brunswick FAQs

Is it wise to borrow money after bankruptcy?

Yes—but getting a bank loan, personal loan, auto loan, or even a credit card after bankruptcy is difficult! However, a bankruptcy loan from Magical Credit can be your first step towards rehabilitating your credit. Pay off your debts promptly, and your credit score will improve – then you’ll be able to borrow at lower rates.

Can I be eligible for a bankruptcy loan if I’m unemployed?

Yes—we accept traditional and non-traditional incomes, including government subsidies (e.g., EI, CPP, baby bonuses), pensions, and maternity benefits. As long as you are discharged from your bankruptcy while receiving a monthly direct deposited income of at least $600.00 into your bank account, we will consider you.

How much time do I have to repay your bankruptcy loans?

We offer repayment terms of anywhere between 6 – 24 months.

All I need is $275 to buy a new phone, can I apply for that specific amount?

No—you can get only apply for loans between $500 and $10,000.

Can I be eligible for a loan if I’ve been discharged from bankruptcy, but I’ve defaulted on a payday loan?

Sorry, Magical Credit has a zero-tolerance policy for defaulting on payday loans!

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
1 Year
Interest Rate (46.8%)
Total Cost of Borrowing
Total Due End of Term
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.