Review required - HELP please

[SCOTCAD]

Good evening,

I finally got my GCMS notes through and noticed my POF have flagged for review.

Essentially they've said that i don't have enough funds because I disclosed my student loan and they have deducted that from the funds physically in my account!? How can a structured government student loan mean I have negative funds when i have the equivalent of 30,000 CAD sitting in my account readily accessible?

The student loan is only repaid when you earn over certain threshold, and I don't have a timescale to pay it back.

Can anyone help advise what is best to do?

thanks!

 

[21Goose]

The student loan is a liability and therefore can be deducted from your assets. Depending on the terms of your loan, the creditor can garnish wages, take the money out of your account, etc etc.

When you reapply, you should write a letter that states the terms of your loan, and how you don't have a timescale to pay it, and that you don't meet the income threshold. If the terms of the loan make it clear that they can't just take the money out of your account, you should be OK. Attach a copy of the loan documentation.

 

[SCOTCAD]

The student loan is a liability and therefore can be deducted from your assets. Depending on the terms of your loan, the creditor can garnish wages, take the money out of your account, etc etc.

When you reapply, you should write a letter that states the terms of your loan, and how you don't have a timescale to pay it, and that you don't meet the income threshold. If the terms of the loan make it clear that they can't just take the money out of your account, you should be OK. Attach a copy of the loan documentation.

Thanks for your reply.

I had read online before disclosing that this would not be taken into consideration in the same sense having a mortgage doesn't mean you have no funds in your account. The loan is from the government and only repaid when earning over a certain threshold. I am extremely confused how this a long term structured loan would mean I have zero assets!?

 

[21Goose]

Thanks for your reply.

I had read online before disclosing that this would not be taken into consideration in the same sense having a mortgage doesn't mean you have no funds in your account. The loan is from the government and only repaid when earning over a certain threshold. I am extremely confused how this a long term structured loan would mean I have zero assets!?

Well, obviously IRCC took it that way and refused to give you a visa, right?

So now you have to prove to them that they shouldn't be taking it into account. That's why you need to write a letter telling them how your student loan is like a mortgage or whatever else you like. You have to prove that the money in your account isn't in danger of being taken away suddenly.

No point getting confused about the whys and the wherefores. If you want a visa, you need to prove to IRCC's satisfaction that you have the financial means to support yourself.

 

[SCOTCAD]

Well, obviously IRCC took it that way and refused to give you a visa, right?

So now you have to prove to them that they shouldn't be taking it into account. That's why you need to write a letter telling them how your student loan is like a mortgage or whatever else you like. You have to prove that the money in your account isn't in danger of being taken away suddenly.

No point getting confused about the whys and the wherefores. If you want a visa, you need to prove to IRCC's satisfaction that you have the financial means to support yourself.

Thanks for your help, and I totally appreciate what you are saying.

My visa hasn’t been rejected just showing as review required on the notes.

I’ve raised a webform and tried to explain how the loan works and that it has zero impact on my day to day funds, it can’t suddenly be requested and if I stop earning, I don’t pay it back, they don’t access your savings or request money from you. I’ve attached the loan policy document too so hopefully that clarifies it. God knows how long it will take for them to look at it though!

 

[21Goose]

Thanks for your help, and I totally appreciate what you are saying.

My visa hasn’t been rejected just showing as review required on the notes.

I’ve raised a webform and tried to explain how the loan works and that it has zero impact on my day to day funds, it can’t suddenly be requested and if I stop earning, I don’t pay it back, they don’t access your savings or request money from you. I’ve attached the loan policy document too so hopefully that clarifies it. God knows how long it will take for them to look at it though!

Ah your visa hasn't yet been rejected? Then yes, you did the right thing by providing this information. It should hopefully be enough to get a positive result.

Good luck.

 

[SCOTCAD]

Ah your visa hasn't yet been rejected? Then yes, you did the right thing by providing this information. It should hopefully be enough to get a positive result.

Good luck.

Thanks mate.

One more quick question, my fiancé is Canadian (we met whilst she was studying in the U.K.) and I had put her as non accompanying on my application. For the funds threshold however they have made her a dependant so the threshold is for two people rather one (I have more than this threshold either way in my account). She has a full time job offer as a veterinary surgeon in Canada earning 100k per year.

If they are going to count her in the fund requirement, would it be worth sending her employment contract? Not sure if that would make a difference.

 

[21Goose]

Thanks mate.

One more quick question, my fiancé is Canadian (we met whilst she was studying in the U.K.) and I had put her as non accompanying on my application. For the funds threshold however they have made her a dependant so the threshold is for two people rather one (I have more than this threshold either way in my account). She has a full time job offer as a veterinary surgeon in Canada earning 100k per year.

If they are going to count her in the fund requirement, would it be worth sending her employment contract? Not sure if that would make a difference.

No need to send the employment contract. If they accept your explanation, you have plenty of money, and if they don't, you don't have enough regardless.

 

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