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Need A Bad Credit, Personal Loan In Newfoundland? Apply In 5 Minutes Or Less!


Recently Completed Your Consumer Proposal? Take Out A Bad Credit, Personal Loan In Newfoundland

Promptly paying off a loan can rebuild your credit score, because it reestablishes your creditworthiness through a proven debt repayment history.

Having said that, banks won’t even bother stifling their laughter at your loan application attempt at this point.

Where can you go to help rebuild your credit score?

Magical Credit specializes in personal loans for bad credit applicants, including those recently discharged from consumer proposals—offering a responsible way to rebuild your credit score.

I want to borrow:


Rebuild Your Credit With Our Bad Credit Personal Loans In Newfoundland

You’ll be drowning in money problems after being discharged from a consumer proposal.

Magical Credit’s consumer proposal loans can be your monetary life jacket, re-establishing your creditworthiness in several ways:

  • Credit Card Consolidation- We’ve all been there. A dry season at sea, and a drier season in your bank account. You racked up credit card debts, and now you need to pay them off. Our personal loans help with a variety of payments, showing creditors a history of debt repayment.
  • Pay via Installments- Installment loan debts are the ultimate financial flotation device. Simply grab on, repay quickly, and allow your credit to float to economic safety. Learn more about installment loans here.
  • Create Mixed Forms of Credit- Paying off bad credit loans proves your ability to skillfully steer the money-ship through an array of payments. Creditor’s love diverse payment histories, and will reel you in like fiscal fish-bait!
  • Pay More Than Minimum- Our loans are reliable and open, like your go-to fish and chips joint. Pay them off as early as you want—with none of the added fees associated with payday loans. Just like fish and chips, our loans will leave you with a good taste in your mouth.

Consumer Proposal Loans In Newfoundland — FAQ

Can I be eligible even with my credit score so low?

Magical Credit specializes in loans for bad credit applicants. Instead of weighing credit scores, we analyze your overall credit report. As long as you collect a steady direct deposit income of $600/month from a traditional or non-traditional source, you may be eligible.

Will I be considered for a loan if I’ve previously declared bankruptcy?

Applicants are only eligible once they’ve been discharged from any prior bankruptcies.

Can I take out a loan if I’ve defaulted on a payday loan?

No— Magical Credit has a zero-tolerance policy for previously unpaid payday loans.

Will my interest be higher because of the consumer proposal effecting my credit history?

No—you’ll be paying 3.9%, just like everyone else!

I collect $700/month from EI, will I be considered?

As long as you have a direct deposited monthly source of income, (traditional or non-traditional) of at least $600, you may be eligible for a consumer proposal loan.

Can I apply for your bad credit loans in St. John’s?

Yes—we offer bad credit loans to St. John’s, Mount Pearl, and the rest of Newfoundland! The only provinces we don’t loan to are Quebec and Manitoba.

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!

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.

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