POF have enough in bank account but have loan as well

[bharry0101]

Hi all,

Request URGENT help with POF, I have received an ITA.

My financial situation is such:
- Bank1 + Bank2 = 18,000 C$ in savings + NO Loan
- Bank3 = 2000 C$ in savings + 24,000 C$ in Education Loan for which I am paying monthly installments

Should I disclose Bank3 information? I guess I want to understand how CIC views a loan in POF?
Experts and others who have been in similar situation please share your experience.

Thanks a lot in advance.

 

[santosh3086]

Hi all,

Request URGENT help with POF, I have received an ITA.

My financial situation is such:
- Bank1 + Bank2 = 18,000 C$ in savings + NO Loan
- Bank3 = 2000 C$ in savings + 24,000 C$ in Education Loan for which I am paying monthly installments

Should I disclose Bank3 information? I guess I want to understand how CIC views a loan in POF?
Experts and others who have been in similar situation please share your experience.

Thanks a lot in advance.

You just need to show the minimum funds required. You can use Bank 1 or Bank 2 or you can show both.

 

[bharry0101]

Thanks! But I read on the CIC website that I should declare my loans as well so I'm a bit confused. can I in my Indian ULIP's and shares?