Proof of funds confusion.

[Amit1298]

Hello Experts,

I have recieved ITA on November 2018.

I am getting all the documents ready for submission at the moment.

My question is, I have 14000 CAD in my account.

But I have a car loan of 5500 CAD but that is from a differnet financial institution, not from my Bank and I pay weekly installments from the account that I am going to show my immigration funds in.

So, do I need to tell that to the immigration officer about this while sibmtting my documents?
Or does this loan really effect the validity of my funds I have in my account ?

Regards,
Amit.

 

[Raz0r]

Hello Experts,

I have recieved ITA on November 2018.

I am getting all the documents ready for submission at the moment.

My question is, I have 14000 CAD in my account.

But I have a car loan of 5500 CAD but that is from a differnet financial institution, not from my Bank and I pay weekly installments from the account that I am going to show my immigration funds in.

So, do I need to tell that to the immigration officer about this while sibmtting my documents?
Or does this loan really effect the validity of my funds I have in my account ?

Regards,
Amit.

Best is to reveal all details without hiding anything. Because its better to be safer than being caught for something. Good luck.

 

[Amit1298]

Best is to reveal all details without hiding anything. Because its better to be safer than being caught for something. Good luck.

Thanks you for the reply.

But, becuase the loan is for my car, that I am not including as an asset in my total funds and I can always sell my car to pay off the loan.
So, is it possible that this amount if CAD 5500 will not be deducted from the total funds that I am showing in my account ?

Any reply would be appreciated.

Regards,
Amit.

 

[Raz0r]

Thanks you for the reply.

But, becuase the loan is for my car, that I am not including as an asset in my total funds and I can always sell my car to pay off the loan.
So, is it possible that this amount if CAD 5500 will not be deducted from the total funds that I am showing in my account ?

Any reply would be appreciated.

Regards,
Amit.

I would not be in the right position to answer that query since I am not completely aware of the funds scenario. But hopefully someone else would help you on the same from here. Good luck.

 

[Amit1298]

I would not be in the right position to answer that query since I am not completely aware of the funds scenario. But hopefully someone else would help you on the same from here. Good luck.

Thank you Raz0r.

 

[sam3218]

Hello Experts,

I have recieved ITA on November 2018.

I am getting all the documents ready for submission at the moment.

My question is, I have 14000 CAD in my account.

But I have a car loan of 5500 CAD but that is from a differnet financial institution, not from my Bank and I pay weekly installments from the account that I am going to show my immigration funds in.

So, do I need to tell that to the immigration officer about this while sibmtting my documents?
Or does this loan really effect the validity of my funds I have in my account ?

Regards,
Amit.

Hi car loan is fine, it is a secured loan against asset, so nothing to worry about. But you must disclose it.