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Credit Card Debt after AOR

P

primeo5

Member
Feb 22, 2019
18
2
Greetings to all my fellow members,

Please kindly help me out with my query related to credit card debt.

For POF, I've submitted two instruments:

1) Bank statements showing settlement funds for one person ($12669).

2) Latest credit card statement after paying it off completely ($0).

After AOR, I've now a credit card debt of $4,000 accumulated within 3 months time. These are routine expenses which I'm paying off regularly with my salary.

I need to know whether this credit card will affect my POF in any way.

Your support is appreciated.
 
dotslash227 said:
Is the Proof of fund kept in a separate bank account or a fixed deposit or something similar?
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Proof of fund is a bank deposit supported by gift deed. From this account I pay off credit card dues regularly after receivig salary. Credit card is also from the same bank. Thank you.
 
You need to keep the minimum required for at least 6 months, your bank account's 6 month average should not be less than required amount.

I would advise you to transfer the funds you received from your father to a fixed deposit and let it be there and make no changes to it.
 
dotslash227 said:
You need to keep the minimum required for at least 6 months, your bank account's 6 month average should not be less than required amount.

I would advise you to transfer the funds you received from your father to a fixed deposit and let it be there and make no changes to it.
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Thank you for your reply. I'm maintaining that minimum ($12669) since 3 months and making no changes to it.

The only change is that my salary gets deposited periodically into that account which raises that mininum and I pay off my rent and routine expenses which are through my Credit Card.

The only difference is that during AOR, credit card balance was 0 and now it's $4000 which will get reduced in a month or so.

My query was whether this credit card debt will affect my POF in any way because it's a rotating debt which goes up and down time to time with expenses and income. Thank you
 
primeo5 said:
Thank you for your reply. I'm maintaining that minimum ($12669) since 3 months and making no changes to it.

The only change is that my salary gets deposited periodically into that account which raises that mininum and I pay off my rent and routine expenses which are through my Credit Card.

The only difference is that during AOR, credit card balance was 0 and now it's $4000 which will get reduced in a month or so.

My query was whether this credit card debt will affect my POF in any way because it's a rotating debt which goes up and down time to time with expenses and income. Thank you
Click to expand...


Still, I would suggest you to keep the canadian funds in a different account and just let it be there until you do your landing. This is what many do and what I am doing.
 
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