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Get Approved For A Bad Credit, Medical Loan In Newfoundland


Newfoundlanders Should Think Of Us As ‘Medical’ Credit

Sadly, poor health doesn’t conveniently line up with your bank account’s health. Slipped discs, blown out ACLs, and broken teeth tend to happen when you can least afford them.

While Canada’s Public Healthcare medical reimbursements offer basic coverage for mandatory care, you’re stuck with the bill for chiropractic services, dental care, ‘elective’ surgeries, eye care, and prescription medications.

Magical Credit offers medical loans with a 3.9% monthly interest rate, so you can get the treatment you need, without worrying about medical billing and interest rates giving you a heart attack!

Need a loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our personal loan calculator!

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Why Newfoundlanders May Need A Bad Credit, Medical Loan

  • Visits to the Dentist – If only Canada’s medical reimbursements could repair your winning smile… at least you’d be able to enjoy Atlantic cod without sipping it from a straw. Take out a medical loan in Newfoundland, and your pearly whites will be chomping on seafood in no time!
  • Chiropractic Services – We hate to break it to you, but the healthcare industry has its faults. If you happen to slip a disc hauling in the catch of the day, they’ll cover a back surgery that’ll put you out of work for 4 months – but not the chiro bill that’ll have you limber by the next day!
  • Therapy – You may need to take out a medical loan for costly therapies not covered by Canada’s healthcare plan. Physio, massage, occupational, and plenty of other therapies are required to fix chronic injuries, not a simple trip to the doctor.
  • Prescription Drugs – 1 in 10 Canadians are financially unable to fill expensive prescriptions they desperately need. A medical loan for treatments will help you follow the doctor’s instructions.

FAQs For Personal Medical Loans In Newfoundland

How long does it take until I get an email confirmation once I’ve applied for a medical loan?

It takes one business day at most.

Can you guarantee approval if I have a job, an income, and a bank account?

No—while having a direct deposit income of over $600 monthly (our minimum) improves your chances, any kind of loans in collection, or bankruptcy will lead to a rejected application.

What process should I follow to get a Magical Credit loan?

Simply fill out our online application and follow any prompts or instructions. It’ll take 5 minutes to complete!

I’ve recently been discharged from bankruptcy and my credit score has taken a substantial hit – can I still be approved?

Yes—as a high-risk lender, we specialize in loans for bad credit applicants. We weigh your overall report of credit instead of your credit score.

If I don’t know what medical reimbursements the government will give me, is it possible to take out more than I need, and then return whatever I don’t use without the added interest?

Once you take out a loan, we start charging 3.9% monthly interest. When a loan is given, it’s final.

Which pieces of ID can I use for my application?
  • Valid Canadian Driver’s License
  • Valid Canadian passport
  • Certificate of Canadian Citizenship
  • Certificate of Indian Status
  • Canadian Permanent Residency Card
  • Old age Security Card

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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