SEEKING ADVICE - Review Required for Settlement Funds in GCMS Notes
Hi All,
I have been a silent spectator of this thread and probably read each of the messages here. Haven't been able to help anyone as I'm not an expert in this. However, it seems like it's time I need some advice myself.
I got my GCMS notes yesterday. My case and status is as follows -
AOR - 21st March, 2019
Stream - FSW-O (India)
Family - Family of 3 (spouse and child unaccompanying)
Status (mix of IRCC portal messages and GCMS notes observations below) -
Notes applied - 23rd June, 2019
Notes received - 24th July, 2019
Medical - Passed
Biometrics - Done
Criminality - Passed for mine, Not Started for wife (overall, In Progress)
Security - Not Started
Eligibility - Review Required
ELIGIBILITY
The notes suggest Education, Work Experience, etc. are all good. Only observation for which it was put in review was Settlement Funds. Funny really as this was the last thing I expected to cause trouble. Family of 3 needs $19,390. I showed ready availability of approx $34,000! I backed my funds claim with all the statements, explanations of all large credits to my account (all of them were from salary sources, no eye-brow raising stuff there), etc.
I cannot make sense out of the agent's notes. I'm not mentioning individual amounts, but the summary of discrepancies is as follows -
Bank 1 - Mix of savings balance, RDs and FDs (considering only accrued amount for FDs and RDs) amounts to $24,000. The agent noted the funds availability in this account as $0 - $8,000. The amount indicates they considered some of my FDs but not all of them (as my savings balance doesn't amount to $8,000)
Bank 2 - Mix of savings balance and FDs amount to $10,000. This was noted fine by the agent in its entirety (no discrepancies here)
Credit Card Dues - Noted as $1,000 which is correct (note, this is just a regular monthly due that I pay off every month, not accumulated stuff).
The only sense I can make out of it is, they didn't consider my FDs which were less than 6 months old. A lot of my FDs show up as <6months as -
i. Most of them were old FDs that matured and were reinvested. So the starting date shows up as new.
ii. One of them was a new FD that I created after puling some amount out of my Mutual Funds as I understand volatile instruments are not considered as POF.
I have attached all details in POF and LOE regarding all of these. I have provided 6-months full bank statement that clearly shows the maturity and recreation of the new FDs. I have provided withdrawal statements of the Mutual Funds (all in my name, withdrawn directly to my account). I even explained all the large credits on my bank statements in LOE with proper bookmarks and links to appendices.
The question is, what do I do now? Should I -
i. Proactively raise a CSE with a summary of explanations that I have already put in LOE (because I have nothing new to explain or that is not already there in the LOE)?
ii. Liquidate the FDs and send them an updated Saving Balance statement through CSE?
iii. Just wait for the officer to review? This option seems like something that would take months or even more than a year!
Thanks for reading it out and your advice.
Regards
P.S. : I posted this in the @legalfalcon help thread as well.
Hi All,
I have been a silent spectator of this thread and probably read each of the messages here. Haven't been able to help anyone as I'm not an expert in this. However, it seems like it's time I need some advice myself.
I got my GCMS notes yesterday. My case and status is as follows -
AOR - 21st March, 2019
Stream - FSW-O (India)
Family - Family of 3 (spouse and child unaccompanying)
Status (mix of IRCC portal messages and GCMS notes observations below) -
Notes applied - 23rd June, 2019
Notes received - 24th July, 2019
Medical - Passed
Biometrics - Done
Criminality - Passed for mine, Not Started for wife (overall, In Progress)
Security - Not Started
Eligibility - Review Required
ELIGIBILITY
The notes suggest Education, Work Experience, etc. are all good. Only observation for which it was put in review was Settlement Funds. Funny really as this was the last thing I expected to cause trouble. Family of 3 needs $19,390. I showed ready availability of approx $34,000! I backed my funds claim with all the statements, explanations of all large credits to my account (all of them were from salary sources, no eye-brow raising stuff there), etc.
I cannot make sense out of the agent's notes. I'm not mentioning individual amounts, but the summary of discrepancies is as follows -
Bank 1 - Mix of savings balance, RDs and FDs (considering only accrued amount for FDs and RDs) amounts to $24,000. The agent noted the funds availability in this account as $0 - $8,000. The amount indicates they considered some of my FDs but not all of them (as my savings balance doesn't amount to $8,000)
Bank 2 - Mix of savings balance and FDs amount to $10,000. This was noted fine by the agent in its entirety (no discrepancies here)
Credit Card Dues - Noted as $1,000 which is correct (note, this is just a regular monthly due that I pay off every month, not accumulated stuff).
The only sense I can make out of it is, they didn't consider my FDs which were less than 6 months old. A lot of my FDs show up as <6months as -
i. Most of them were old FDs that matured and were reinvested. So the starting date shows up as new.
ii. One of them was a new FD that I created after puling some amount out of my Mutual Funds as I understand volatile instruments are not considered as POF.
I have attached all details in POF and LOE regarding all of these. I have provided 6-months full bank statement that clearly shows the maturity and recreation of the new FDs. I have provided withdrawal statements of the Mutual Funds (all in my name, withdrawn directly to my account). I even explained all the large credits on my bank statements in LOE with proper bookmarks and links to appendices.
The question is, what do I do now? Should I -
i. Proactively raise a CSE with a summary of explanations that I have already put in LOE (because I have nothing new to explain or that is not already there in the LOE)?
ii. Liquidate the FDs and send them an updated Saving Balance statement through CSE?
iii. Just wait for the officer to review? This option seems like something that would take months or even more than a year!
Thanks for reading it out and your advice.
Regards
P.S. : I posted this in the @legalfalcon help thread as well.
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