Car Debt/ Proof of funds

[abasoufiane]

Hi,

As the title suggests, i still have to pay a loan for my car, a monthly payement is due until April 2018. Currently, The fund in my account are more than the minimum required and i would have no problem to pay the rest, i'm getting ready to send my eAPR, is this loan can be a problem ? Please share your insight.

 

[abasoufiane]

Anyone please?

 

[chikoo1985]

Anyone please?

I am in the similar situation. I researched a bit and found out any kind of loan which doesn't help one to show the funds in your checking or saving account is alright. If this true then car debt is not an issue but I am not too very sure.

 

[dr feras]

Similar situation. Got around 16k ( minimum for 2 people 15200), but also have an old credit card debt for which they deduct around 100 canadian dollars per month. Not sure if thats a problem or not.

 

[chikoo1985]

Read below thread... You will get more clarity.

http://www.canadavisa.com/canada-immigration-discussion-board/threads/proof-of-funds-car-loan.430543/

 

[abasoufiane]

I am in the similar situation. I researched a bit and found out any kind of loan which doesn't help one to show the funds in your checking or saving account is alright. If this true then car debt is not an issue but I am not too very sure.

i'm sorry but i don't understand what you mean, 'any kind of loan which doesn't help one to show the funds in your checking or saving account is alright"

Please clarify.

 

[chikoo1985]

i'm sorry but i don't understand what you mean, 'any kind of loan which doesn't help one to show the funds in your checking or saving account is alright"

Please clarify.

I think I wasn't able to explain it better... PLease go through below link

http://www.canadavisa.com/canada-immigration-discussion-board/threads/proof-of-funds-car-loan.430543/

 

[dr feras]

So what I understand is as long as money is exclusively owned and accessed by me, and credit card debt wasnt the source of funds as its clearly from years ago and I have gift deeds for this recent sum of money, then i sould be ok right?

 

[chikoo1985]

So what I understand is as long as money is exclusively owned and accessed by me, and credit card debt wasnt the source of funds as its clearly from years ago and I have gift deeds for this recent sum of money, then i sould be ok right?

For Car loan the concept is... One can sell the car and pay the debt... Car is considered asset here against the loan.... I don't think the same concept is applied for credit card debt.