POF and loan (1.5 yr old, still 3.5 yr to go)? Anyone has experience?

[ranjangaur4]

Hi, we are family of 4 and hoping that we should be able to secure an ITA within the next 4-6 weeks.
The situation with our POF is that we should show some CAD 23500 or so.
We have:
Bank A: savings account with ~CAD 25000 and an unused credit card to it. From this account monthly loan installments are being drawn in about the amount of CAD 400. We still have 3.5 yrs to go for this loan. The loan has been taken from another institution.
Bank B: no account, but this is the place we took loan from, still about CAD 16000 to return over the next 3.5 yrs
Bank C: credit card that we use for monthly purchases, and pay off monthly. About CAD 500 usage usually.
Bank D: unused credit card.

Can someone advise what exactly we should show as our POF and if there is any problem with the fact that we have a running loan?

 

[mr.preetsingh]

Hi, we are family of 4 and hoping that we should be able to secure an ITA within the next 4-6 weeks.
The situation with our POF is that we should show some CAD 23500 or so.
We have:
Bank A: savings account with ~CAD 25000 and an unused credit card to it. From this account monthly loan installments are being drawn in about the amount of CAD 400. We still have 3.5 yrs to go for this loan. The loan has been taken from another institution.
Bank B: no account, but this is the place we took loan from, still about CAD 16000 to return over the next 3.5 yrs
Bank C: credit card that we use for monthly purchases, and pay off monthly. About CAD 500 usage usually.
Bank D: unused credit card.

Can someone advise what exactly we should show as our POF and if there is any problem with the fact that we have a running loan?

Bank A, if you are getting direct invitation, Do remember that the funds should not go down from CAD 23500 over a period till PR VISA.

 

[ranjangaur4]

Bank A, if you are getting direct invitation, Do remember that the funds should not go down from CAD 23500 over a period till PR VISA.

Thanks for your reply! The question is just that however, will that personal loan affect our chances? We are also considering holding out from EE pool till the loan gets sorted, unfortunately that would mean quite a while.

 

[mr.preetsingh]

Thanks for your reply! The question is just that however, will that personal loan affect our chances? We are also considering holding out from EE pool till the loan gets sorted, unfortunately that would mean quite a while.

since its from a different bank, so Technically you can hide.