Apply for a Personal Loan in Saskatchewan while in a Consumer Proposal. It only takes 5 minutes!

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Consumer Proposal Loans in Saskatchewan

Is your consumer debt between $5000-$250,000?

Then it’s wise to hire a Licensed Insolvency Trustee (LIT) to negotiate a consumer proposal with your creditor. Unlike declaring bankruptcy, your credit can be easily redeemed. Plus, you’ll be paying back creditors at your own pace, with no added interest.

And once you are discharged from a consumer proposal, rebuild your credit with a consumer proposal personal loan from Magical Credit! We specialize in loans for bad credit applicants!

Keep track of your consumer proposal loan repayment schedule, with Magical Credit’s short-term loan calculator!

I want to borrow:

< $2000 >

Rebuild Your Credit with Magical Credit’s Consumer Proposal Loans in Saskatchewan

Filing a consumer proposal can obliterate your credit score. So, your top priority should be finding methods to rebuild your credit.

Here is some essential information for re-establishing your creditworthiness:

Consolidate Credit Card Debt –  Taking out personal loans for maxed out credit cards will improve credit. While standard companies don’t lend to bad credit applicants, Magical Credit approves bad credit loans in 24 hours or less!

Pay in Installments –  Paying off debts via installments doesn’t hurt credit scores nearly as bad as a maxed-out credit card. That’s why Magical Credit’s loans are installment-based. Learn more about our installment loans here.

Create Mixed Forms of Credit- Paying off a personal loan displays your diverse range of successful payments with varying interest rates. Paying off personal loans will improve your credit score and reestablish creditworthiness.

Pay More Than Minimum- Paying off personal loans promptly establishes positivity in your payment history. By paying more than the minimum, you’ll save money by neutralizing the interest rate, while improving your credit score.

FAQ – Consumer Proposal Loans: Saskatchewan

What is creditworthiness?

Creditworthiness is a valuation done by lenders, determining whether or not a borrower may default on debts- considering factors like repayment histories and credit scores.

Can I still get a consumer proposal loan in Saskatchewan if I’ve declared bankruptcy?

You can only be eligible for our loans once you’ve been discharged from a bankruptcy or have successfully completed your consumer proposal.

Can I apply for a bad credit loan if I’ve defaulted on a payday loan?

Sadly, Magical Credit has a zero-tolerance policy for any unpaid payday loans.

Would my damaged credit from my consumer proposal lead to higher interest rates?

No— Magical Credit’s 3.9% fixed monthly interest is applicable to all of our loans!

Am I eligible for your personal loans if I live in Regina?

Yes— Magical Credit offers bad credit personal loans to all of Saskatchewan! The only places in Canada that aren’t eligible for our loans, are Manitoba and Quebec!

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
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.
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.