Insufficient Proof of Funds help!

[can-ada]

Dear All,

My wife and I have recently received a request for all docs regarding PR application and have been given 30 days to submit everything. Unfortunately due to the economic situation we have run out of funds and can only come up with about $6000, we require $13000 something in CAD.
We intend to live with relatives in Canada and they have agreed to provide us with a notarized letter guarantying that they will put us up and have agreed to provide proof of funds for this. We need to know if the London office will accept this?
Please help as we are pressed for time.
thanks

 

[capriraj]

As far as I am aware, you need to show the funds available with you. If you put your relatives support document CHC will take longer to process your application. This is my understanding unless somebody has another view.

In the meanwhile I could suggest you few options.

1. Ask your friends to deposit money into your account. Get the statement and return the money back to them.

2. Alternatively ask for a bank loan, show it into your account and pay it back to your bank ASAP.

3. Apply for a credit card with zero balance transfer scheme and transfer funds into your current account.

Please do not act on such advice unless you are fully sure of all the actions you are taking. The advice I am giving to you from my personal experience.

I doubt that London will accept your excuse. make sure you have the funds.

 

[Temasek]

This is an extract from this CIC's webpage - http://www.cic.gc.ca/english/immigrate/skilled/arriving.asp

....funds could be in the form of:
•cash
•securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
•negotiable instruments in bearer form, such as bankers’ drafts, cheques, travellers’ cheques or money orders.

A letter of guarantee would thus not be acceptable for them as proof of funds. Maybe you could borrow the difference, and return the amount once you receive your Bank's Certification of Available Funds?

 

[visaworld]

dear can-ada
as per my understanding u have to arrange the required amount and have to keep it in ur account till u recieve ur visa.
because now a days they may ask u after 3,4 months to show ur proof of funds again.It happens with few applicants.

 

[jes_ON]

Folks, the money cannot be borrowed.
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

and p. 14 of the instruction guide.

I know, a lot of people do it, but if the loan is discovered, the application will be rejected.

Sorry, I don't have any good advice. If you have anything to sell, now is the time. If someone can give the money and provide an affidavit that it is a gift that does not need to be repaid, that may be accepted.

 

[explorer101]

Folks, the money cannot be borrowed.
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
and p. 14 of the instruction guide.
I know, a lot of people do it, but if the loan is discovered, the application will be rejected.
Sorry, I don't have any good advice. If you have anything to sell, now is the time. If someone can give the money and provide an affidavit that it is a gift that does not need to be repaid, that may be accepted.

Yes, it can't be borrowed as per the rules. But in practice you can borrow and show it that it is your money, obtained by selling Gold,land etc etc

 

[jattu1980]

Dear can-ada,

I know it might be a problem right now for you. I personally would advise against getting the relative sponsorship letter. As some of the people ahve pointed out, try and get as much cash as you can to cover the minimum limit. Try askin for money frm your friends relatives atc atc...borrow money from/get it as cash advance...that way you wil be better off.

I hope it works out for you!

 

[shibuya]

If your relative was ur sponsor it would have worked out.
But in Skilled worker category u can claim only 5 points from relative.
If ur relative has a big heart tell them to transfer the balance money into ur account and u can repay them later. : :

 

[jes_ON]

Now I'm curious. The exact language says that funds cannot be borrowed from a person. With the exception of the US Supreme Court, in most places, a bank or credit card company would not legally be considered a "person."

But then, there's the "unencumbered by debt or other obligations" part...

All of these clauses seem subject to various interpretations...