Credit Score - International Students, any effects?

[komostati]

Hi folks,

Couple years ago I had to take a loan to pay for my last semester for undergrad (total amount $12,000). I was paying my monthly fees until I was forced to go to Graduate School to extend my stay. So I started paying school again and bailed on the bank.

Of course I was sent to collection agencies and now I make minor payment and they threat for taking to court and all that if I stopped paying again, which may be the case shortly since total schooling has costed me $120,000 so far !

The question is, will any of these financial related issues have any effects when applying for PR? Or it's not related as the PR application is mainly concerned with Medical, Security, and Criminal issues only?

Please advise.

Thank you.

 

[melecia]

Hi , i don't have a response to your question, but i would like to know if you could share how you got access to loan as a international student,
i am in my last semester but encounter some financial difficulty. you could email me at patbeckford@yahoo.com

 

[komostati]

Hi , i don't have a response to your question, but i would like to know if you could share how you got access to loan as a international student,
i am in my last semester but encounter some financial difficulty. you could email me at patbeckford@yahoo.com

I made personal connections with senior employee in the bank and was able to convince him to give me a high line of credit with extremely low interest rate. Many people tried after I told them but it didn't work. Maybe I was just lucky to know that person.

 

[Copingwithlife]

I made personal connections with senior employee in the bank and was able to convince him to give me a high line of credit with extremely low interest rate. Many people tried after I told them but it didn't work. Maybe I was just lucky to know that person.

But then you bailed on your obligations after the person at the bank got you the LOC ?

 

[komostati]

But then you bailed on your obligations after the person at the bank got you the LOC ?

I kept paying for two years and then my post graduate work permit expired so I applied for master's so I can stay in the country. I had no choice.

Now any amount of money I make or receive I throw it in tuition because this is a priority now. Then will go back to pay the bank assuming everything goes well.

Any ideas if it has negative consequences on the PR process in the near future? Thank you

 

[Immstu]

I kept paying for two years and then my post graduate work permit expired so I applied for master's so I can stay in the country. I had no choice.

Now any amount of money I make or receive I throw it in tuition because this is a priority now. Then will go back to pay the bank assuming everything goes well.

Any ideas if it has negative consequences on the PR process in the near future? Thank you

Assuming it wasn't fraud, it won't have any negative consequence on your PR process.

All the best

 

[komostati]

Assuming it wasn't fraud, it won't have any negative consequence on your PR process.

All the best

Ok thank you. It was just a regular line of credit where I couldn't fulfill my obligations due to financial difficulties.

Thanks for the response.

 

[melecia]

I made personal connections with senior employee in the bank and was able to convince him to give me a high line of credit with extremely low interest rate. Many people tried after I told them but it didn't work. Maybe I was just lucky to know that person.


thanks for the response

 

[scylla]

Hi folks,

Couple years ago I had to take a loan to pay for my last semester for undergrad (total amount $12,000). I was paying my monthly fees until I was forced to go to Graduate School to extend my stay. So I started paying school again and bailed on the bank.

Of course I was sent to collection agencies and now I make minor payment and they threat for taking to court and all that if I stopped paying again, which may be the case shortly since total schooling has costed me $120,000 so far !

The question is, will any of these financial related issues have any effects when applying for PR? Or it's not related as the PR application is mainly concerned with Medical, Security, and Criminal issues only?

Please advise.

Thank you.

Having bad credit may impact your ability to get some jobs. It may also impact your ability to qualify for future credit products including credit cards, car loans, mortgages - and also your ability to rent.

If at all possible, you should continue to pay the minimum amount required on your loan.