You’d think being discharged from your consumer proposal would make you feel on top of the world. But once you realize how hard it’ll be to rebuild your credit score, you’ll come crashing down to earth.
Banks don’t lend to poor credit applicants, and payday lenders will gauge you with their preposterous interest rates. Sadly, you can’t build an igloo and hide out for the rest of eternity—in order to move on with the rest of your life, you must rebuild your credit score.
Thankfully, Magical Credit’s personal loans for bad credit applicants come with a reasonable 3.9% monthly interest rate. Provided you’re discharged from your consumer proposal, haven’t defaulted on any prior loans, and collect a $600 monthly direct deposit income, we’ll consider your application. Plus, if you make above minimum installment payments, it’ll help rebuild your credit score!
Debt Consolidation- Consumer debts are less of a monkey on your back than they are a giant polar bear on your back. Take out one of Magical Credit’s loans for bad credit applicants and turn those many debts into one easy-to-pay loan.
Pay via Installments- Our installment payments might be what you need to inject some life into your credit score. By making above minimum payments, our loans will give a healthy boost to your FICO score. Learn more about installment loans here.
Mixed Forms of Credit- Creditor’s will look favourably upon a diverse payment history. If you’re making other payments while paying off one of Magical Credit’s personal loans, your credit score will shoot up faster than your souped-up snow mobile!
No Added Premiums- Our loans are open, so you can pay them off early without the added premiums payday lenders charge, giving you ample opportunity to improve your credit!
As long as you’ve completed any consumer proposals, have been discharged from any prior bankruptcies, haven’t defaulted on any prior payday loans, and collect a $600.00 direct deposit monthly income from a traditional or non-traditional source, you may be eligible for one of our consumer proposal loans.
No— we lend between $500-$10,000. You can take out a $10,000 and seek the rest of the money elsewhere.
No—you’ll be paying 3.9%, just like everyone else!
Yes—provided you’ve been collecting a direct deposit monthly income of at least $600 for over 6 months, you will be considered.
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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