Car loan should be part of proof of funds?

[ziofil]

Hello,

I have found some threads in this forum where they say that essentially CIC wants to make sure that one doesn't take a loan only to satisfy the POF requirements and that therefore things like a car loan are not necessary to report. Is this true?

Because I have a car loan and I'm wondering if I can skip the trouble of asking for a proper letter from the financial institution (it's gonna be lengthy to obtain a proper letter from desjardins since there is no physical office near my town where I can go to and speak with someone in person like I can instead do at TD bank).

 

[andy108]

Loan is your own debt. It does not have anything to do with POF.

As long as you have funds, and can show the source (savings? gift? salary?) all good.

 

[ziofil]

Okay, that corroborates other information that I had found!
Thanks

 

[sanjsin9]

Loan is your own debt. It does not have anything to do with POF.

As long as you have funds, and can show the source (savings? gift? salary?) all good.

Hi Andy

as you said " we can show the source (savings? gift? salary?) all good " for instance my father have all his savings at home and he did not deposited in any bank account , can i take that money and make a gift certificate and transfer that amount in my savings bank account as POF for SINP PNP to make a total of 13000-15000 $CAD and give an LOE ..

awaiting for your reply
Thanks in advance