Most lenders won’t be impressed with your loan application after you’ve been discharged from a bankruptcy. Whether you’re taking out a mortgage, buying a house, or getting a car after bankruptcy, you’ll need to find ways to show lenders and creditors that you’re a responsible borrower.
If you need to rebuild your credit score, Magical Credit is a high-risk lender specializing in loans for bad credit applicants—including those recently discharged from bankruptcy!
It depends on your financial situation—by taking out a short-term loan and paying it off quickly, it helps with rebuilding your credit score, displaying a proven debt repayment history.
On the flip side, if you can only make minimum payments, or you miss payments, it will further damage your credit score.
No—our bankruptcy loans are only available to those discharged from bankruptcies. They are also unavailable to anyone who has previously defaulted on a payday loan.
No. Our 3.9% monthly interest rate is consistent with all of our loans.
We accept traditional employment incomes and non-traditional income-sources, such as government grants and private pensions. If you’re being direct deposited $600/month, you might be eligible for a bad credit loan in PEI.
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!
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