Credit cards and Loan - PoF

[haiderijaz]

I have gone through a number of posts and I don't have a definite answer for this. I have two bank accounts. One is my salary account which I use for transactions and in which I get my salary and one account is with another bank which I rarely use. I plan to put my funds through gift deed in this account. I have three credit cards and one loan but all of these are with banks other than in which I have my accounts. Is it safe for me not to disclose my credit cards and the loan? The loan is going to be paid off next year in July as I have already paid 27 installments of it out of 36 and credit cards are paid back each month.
Please do reply.

 

[canuck78]

I have gone through a number of posts and I don't have a definite answer for this. I have two bank accounts. One is my salary account which I use for transactions and in which I get my salary and one account is with another bank which I rarely use. I plan to put my funds through gift deed in this account. I have three credit cards and one loan but all of these are with banks other than in which I have my accounts. Is it safe for me not to disclose my credit cards and the loan? The loan is going to be paid off next year in July as I have already paid 27 installments of it out of 36 and credit cards are paid back each month.
Please do reply.

Not disclosing information that is asked for would be considered immigration fraud.

 

[haiderijaz]

Not disclosing information that is asked for would be considered immigration fraud.

Why do people keep doing that and keep getting away? Also, does immigration officer have access to the central bank of a country because otherwise there is no way to find out about anything.

 

[Achad]

Why do people keep doing that and keep getting away? Also, does immigration officer have access to the central bank of a country because otherwise there is no way to find out about anything.

Well, to pay the fees you will use your credit card and when you do that they will know you have acredit card and you did not disclose it.

 

[haiderijaz]

Well, to pay the fees you will use your credit card and when you do that they will know you have acredit card and you did not disclose it.

No. I can't use my card. I don't have such big limit on my card. I will have to borrow from someone else. :/ I am willing to show my credit cards but there is a difference of billing address which will take time to change. I never bothered about the address as I used to receive email for my credit card statements. I have a limit of 100,000 pkr, 55,000 and 75,000 pkr which collectively amounts to around to $2000 and they aren't used fully, just partially every month and settled too.

 

[Achad]

No. I can't use my card. I don't have such big limit on my card. I will have to borrow from someone else. :/ I am willing to show my credit cards but there is a difference of billing address which will take time to change. I never bothered about the address as I used to receive email for my credit card statements. I have a limit of 100,000 pkr, 55,000 and 75,000 pkr which collectively amounts to around to $2000 and they aren't used fully, just partially every month and settled too.

In my opinion addres will not matter. They only look at your name. It is your choice, if you feel credit card is irrelevant, you can ignore it. But i would disclose the loans.

 

[haiderijaz]

In my opinion addres will not matter. They only look at your name. It is your choice, if you feel credit card is irrelevant, you can ignore it. But i would disclose the loans.

Is there any way to confirm this? I have no problem disclosing all of these as I can easily prove my ability to pay these. That's not at all a issue. But I am in doubt because of the address. If anyone could confirm, or anywhere I can send an email and know?

 

[dotslash227]

Well, to pay the fees you will use your credit card and when you do that they will know you have acredit card and you did not disclose it.

One can pay through their debit or a prepaid card with international access as well. It doesn't make any sense. I paid my entire fee of $1125 through my debit card.

Credit checks are not part of the background checks.

Also, they require information on loans if your proof of funds are encumbered by a loan.

 

[haiderijaz]

One can pay through their debit or a prepaid card with international access as well. It doesn't make any sense. I paid my entire fee of $1125 through my debit card.

Credit checks are not part of the background checks.

Also, they require information on loans if your proof of funds are encumbered by a loan.

I only have rs. 66000 of it left which will be paid in remaining 9 installments.

 

[dotslash227]

I only have rs. 66000 of it left which will be paid in remaining 9 installments.

As long as your POF is not encumbered by that loan, it's fine to not disclose it, it is not misrepresentation.

 

[haiderijaz]

To be honest, I have heard so many things now that I can't decide what to do. I don't have any problem disclosing these but I'll have to get my address corrected

 

[dotslash227]

To be honest, I have heard so many things now that I can't decide what to do. I don't have any problem disclosing these but I'll have to get my address corrected

If you want to disclose it, go ahead and disclose it. As long as the net worth of POF (Funds minus loans) is equal or above the minimum required, you will be fine.