Did you know that you can hire a Licensed Insolvency Trustee (LIT) to negotiate a consumer proposal with your creditor?
They’ll protect your credit from the pitfalls of bankruptcy, while allowing you to square up with creditors without any added interest – and you can make payments at your own pace!
Once you’ve paid off your consumer proposal, Magical Credit presents a unique opportunity to rebuild your credit with our consumer proposal loans in BC. In fact, we specialize in bad credit loans for people in BC!
Magical Credit’s short-term loan calculator will help schedule and keep track of your short-term, consumer proposal loan repayments!
Consumer proposals may be a better option than bankruptcy, but your credit still takes some serious damage. Therefore, finding ways to rebuild your credit is imperative.
A short-term, consumer proposal loan in BC can re-establish your creditworthiness in various ways:
Creditworthiness is the process lenders use to determine the possibility of whether or not a borrower is likely to default on debt obligations. Repayment history and credit scores are weighed in this valuation.
Magical Credit specializes in loans for bad credit applicants; therefore. we don’t weigh an applicant’s credit score, but their overall credit report. We’ll also weigh any current consumer proposals, bankruptcies, loans in collections, and your debt repayment history.
You may apply for our loans once you’ve been discharged of any declared bankruptcy, or once you’ve completed your consumer proposal.
Magical Credit will not lend to anyone who has defaulted on a payday loan. We have a zero tolerance for previously unpaid payday loans.
No—all of our loans come with a fixed 3.9% monthly interest rate.
As long as you collect a fixed monthly source of income of $600.00, (traditional or non-traditional) direct deposited into your bank account, you can still be eligible. Magical Credit caters to low-income applicants, so your total income will only determine the amount we can loan you.
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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