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Bankruptcy Loans in Nova Scotia from Magical Credit

Magical Credit offers flexible bankruptcy loans for Nova Scotians with poor credit!

Our bankruptcy loans are open, meaning you only pay interest to date, and not the full term if you decide to pay off your loan early.

Start rebuilding your life without any financial barriers with a bankruptcy loan from Magical Credit. Apply today in as little as 5 minutes!

Need a bankruptcy loan Halifax, Amherst, or anywhere else in Nova Scotia, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our personal loan calculator!

I want to borrow:

< $2000 >
$2,000
Min
$10,000
Max

Why Do You Need a Bankruptcy Loan in Nova Scotia?

  • Rebuild Credit – Your discharged bankruptcy shouldn’t mean waiting years to rebuild your credit score. Once you’ve been discharged, it’s important to restore your creditworthiness ASAP, and a bankruptcy loan can get you started today!
  • Purchasing a Home – If bankruptcy has stained your credit score, a mortgage may seem out of reach. Let a bankruptcy loan from Magical Credit be your first step towards rebuilding your credit for your new home.
  • Dental Expenses – Don’t let bad credit lead to bad chompers. Dentists recommend a dental check-up once every six months. Preserve your smile and cover your dental costs with a bankruptcy loan from Magical Credit!
  • Moving Expenses –  Relocating from Dartmouth to Halifax can open new opportunities for your family, but moving can be costly. A bankruptcy loan can ease the financial burden by covering the cost of shipping, security deposits, and furniture.

Bankruptcy Loan FAQs

Can a bankruptcy loan help rebuild my credit score?

Yes. You can grow your credit rating by borrowing and paying off a bankruptcy loan from Magical Credit. If you’re committed to paying off your existing debt on time, your credit score will continue to grow, and you’ll be able to borrow at lower rates.

I’m currently laid off, am I still eligible for a bankruptcy loan?

Yes. We accept traditional and non-traditional sources of income as long as you receive a monthly income of at least $600 to your bank account via direct deposit. If you’re currently unemployed and receive a government subsidy such as EI, you will be eligible for a loan.

I need a loan smaller than $500, can you still lend to me?

Sorry, we only offer bankruptcy loans between $500 and $10,000.

I only make $800 a month, can I borrow for you?

Yes. If you receive at least $ 600.00 a month via direct deposit, we will consider you for a bankruptcy loan.

How much interest will I be charged?

We have a fixed interest rate of 3.9% per month.

I’ve declared bankruptcy last year, am I still eligible for a bankruptcy loan?

Sorry, we only offer bankruptcy loans for those who have been discharged.


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.