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Thank you very much for your detailed response. However, I don't see the difference between having an existing unsecured loan from a past spending and taking a new loan to create some cash for the purpose of satisfying the fund requirement. In both cases, the loan is only associated with the...

So if you guys are saying if someone has a 50K unsecured loan, they need 70K in cash for proof of fund? This doesn't sound practical.

Thank you for your response. I take different view on this matter. I am well aware that IRCC disallow borrowed money. However, I believe a unsecured loan is different from borrowed money. Borrowed money still belongs to the creditor, even though it sits in your account. The creditor can make...

Hi Guys, I've got my invitation. As I do not have savings, I am planning to take a unsecured loan (personal loan) in order to meet to the fund requirement. It this approach going to work? If so, would I be required to have extra amount as compared to the CAD19,093 for 3 family members? Say...