Proof of Funds/ Credit Debt/Loan Questions

[mudunuri]

Hi, I currently applied for Canada PR from USA and I got the invite to apply. I have a few questions regarding Proof of funds, Can someone please help out?

1. I have gathered the required amount for 1 person in my savings account but, the average balance for each month is not equal to 13000 CAD$ but if I look at my current balance it is sufficient. What do I do here and how do I write Letter of Explanation(LOE) regarding that. I could not have the avg balance as I gradually started pooling money every month from my checking's account.
2. I have credit cards from Amex and Discover and do I need to show the debt for both the banks? If so, would that mean submitting monthly statements and for how many months do I show?
3. I have a car loan from DCU and How do I show that for canada PR?

 

[Bacelor]

Hi, I currently applied for Canada PR from USA and I got the invite to apply. I have a few questions regarding Proof of funds, Can someone please help out?

1. I have gathered the required amount for 1 person in my savings account but, the average balance for each month is not equal to 13000 CAD$ but if I look at my current balance it is sufficient. What do I do here and how do I write Letter of Explanation(LOE) regarding that. I could not have the avg balance as I gradually started pooling money every month from my checking's account.
2. I have credit cards from Amex and Discover and do I need to show the debt for both the banks? If so, would that mean submitting monthly statements and for how many months do I show?
3. I have a car loan from DCU and How do I show that for canada PR?

I have read that few PPL solved this by obtaining a deed of gift thing, however your POF during a 6 months period shouldn't go below required amount at any time.

Loans are not a problem unless are paid from the POF itself.

 

[mudunuri]

My credit cards and car loan is paid from my checkings account and not the POF, So I don't need to include them right?

 

[Bacelor]

My credit cards and car loan is paid from my checkings account and not the POF, So I don't need to include them right?

For me i have enclosed statements for all accounts including CC acc. Current and savings so to proof i am able to manage loans and expenses without touching POFs. However i have not a single withdrawal transactions in saving account since ever.

 

[mudunuri]

Got it, thank you.