Recently Discharged from Your Consumer Proposal? Take Out a Bad Credit Loan in the Yukon!

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Consumer Proposal Loans in the Yukon

Being discharged from your consumer proposal is a huge relief, but now you’ll need to rebuild your credit score.

Banks won’t consider you as a borrower with your poor credit, and payday lenders will gauge you with their preposterous interest rates, which can reach $15 for every $100 borrowed!

So, how can you rebuild your credit score safely?!

Magical Credit’s personal loans for bad credit applicants are your answer. Our monthly interest rate (3.9%) stays consistent, even if you’ve been discharged from a consumer proposal.

Our consumer proposal loan repayment terms won’t stress you out! All you need to do is calculate your easy installment payments with Magical Credit’s short-term loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

How Consumer Proposal Loans Can Rebuild Your Credit in the Yukon

The hard part isn’t over after you’ve been discharged from a consumer proposal, because your credit is as low as it can go without filing for bankruptcy.

Let Magical Credit’s consumer proposal loans can give you the fresh start you deserve:

Debt Consolidation – You need to pay your numerous consumer debts, or else you’ll be filing for another consumer proposal. Our loans for debt consolidation in the Yukon cover several payments, displaying a positive debt repayment history to creditors.

Pay via Installments – Installment loans can be amazing for your credit. If you make more than the 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 view diverse payment histories as a plus. If you’re successfully making other payments while paying off your bad credit loan, you’ll be on the road to rebuilding your credit!

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!

Consumer Proposal Loans in the Yukon—FAQ

My consumer proposal completely tanked my credit, will I be considered for your short-term, personal loans?

Yes—Magical Credit is a high-risk lender, specializing in loans for bad credit applicants. As long as you’re discharged from any bankruptcies and consumer proposals, don’t have any loans in collection, and receive a fixed direct deposit income of $600 per month (traditional or non-traditional), you may be eligible for a Magical Credit loan.

Will my application be approved if I’ve previously defaulted on a loan?

No— we have a zero-tolerance policy for previously unpaid loans.

I receive a direct deposit income of $400/month from EI - will I be considered?

If that is your only source of direct deposit income then no, you won’t be eligible. Your monthly source of income needs to be at least $600/month (traditional or non-traditional) to be eligible for a consumer proposal loan.


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
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
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.