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!
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!
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.
No— we have a zero-tolerance policy for previously unpaid loans.
No—you’ll be paying 3.9%, just like everyone else!
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!
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