Proof of funds-taking money from friends or cash advance from credit card.

[harsha5085]

Will govt come to know about this?

I have a huge credit card bill. Will that come under liability?

 

[Asivad Anac]

Any kind of borrowed funds is a bad idea. All CIC needs to do is ask you for source of such funds and you will be forced to concede that it is borrowed and that would lead to refusal.

Credit card bills need not reflect in your POF unless you took a cash advance on the card to show as POF in which case yous application will be refused.

 

[harsha5085]

Any kind of borrowed funds is a bad idea. All CIC needs to do is ask you for source of such funds and you will be forced to concede that it is borrowed and that would lead to refusal.

Credit card bills need not reflect in your POF unless you took a cash advance on the card to show as POF in which case yous application will be refused.

I submitted my scotia bank account statement to them. That account didnt have any cash advance. i took cash advance from cibc long back and i transferred from cibc to scotia later.I borrowed a sum of $2500 from my parents. will it be considered as a transfer too?

 

[Asivad Anac]

I submitted my scotia bank account statement to them. That account didnt have any cash advance. i took cash advance from cibc long back and i transferred from cibc to scotia later.I borrowed a sum of $2500 from my parents. will it be considered as a transfer too?

Depends on how long back. If it was a year or more, probably nothing to worry.

Anything borrowed from anywhere is a potential hazard when it comes to POF. The operative word is borrowed.

 

[harsha5085]

Depends on how long back. If it was a year or more, probably nothing to worry.

Anything borrowed from anywhere is a potential hazard when it comes to POF. The operative word is borrowed.

Thanks Asivad, I am currently shivering with fear. I applied through BC PNP in Aug 2014 as a web developer with noc 2175 its been a year after that i converted to express entry and this cash advance was taken before i even apply for express entry. I am short of some funds so i took it from my friends but earned and paid it back too.Will this be an affect on my profile? If cic gets me will i get a ban or refusal?

 

[manishgo3366]

Depends on how long back. If it was a year or more, probably nothing to worry.

Anything borrowed from anywhere is a potential hazard when it comes to POF. The operative word is borrowed.

Hi Asivad,

Greetings! Currently I am in a situation that also includes mentioning of credit card bills.
I currently work in USA. 1 month ago my family visited me. For their trip including their flight tickets I spent almost 8,000 USD. I received cash from them for their expenses which I deposited in my account. I am getting statement printed from my family members (uncle, aunt, father and mother) with their signature and attestation from USA that they gave me cash for their expenses.

I am also attaching all the credit card statements showing booking of their flights and their expenses through my credit card and paid off statements. I deposited the cash in my account and got the bank balance statement along with last 6 months of transaction statements.

The problem I face is will this be a solid evidence of proof of funds. average balance in my account is 2,000 USD and I am showing balance of 11,000 USD. I have a monthly in-hand salary of 4,150 USD with a direct deposit in my same account. I am worried as I haven't kept the money for specific period of time.

I also have a property valuation done from my home country which is worth 67,000 Canadian dollars on my name shared between me and my parents (Property value total 200,000 CAD).

Please guide me if both of these financial proofs will be enough or not. I have only 20 days left to submit my application.

 

[Am11]

Thanks Asivad, I am currently shivering with fear. I applied through BC PNP in Aug 2014 as a web developer with noc 2175 its been a year after that i converted to express entry and this cash advance was taken before i even apply for express entry. I am short of some funds so i took it from my friends but earned and paid it back too.Will this be an affect on my profile? If cic gets me will i get a ban or refusal?

anything done before 6 months which has to deal with credit check/ credit score /credit unions is probably nothing to worry and if you have borrowed cash from friends should be fine(not always a good idea though) as CIC doesn't ask for source always , last thing is you are worried of refusal or ban , there is no ban for sure but there might be refusal if they will ask source and you are fail to prove that...!!!
Hope that helps ...Good luck!!!!
hope for the best!!!

 

[Am11]

Hi Asivad,

Greetings! Currently I am in a situation that also includes mentioning of credit card bills.
I currently work in USA. 1 month ago my family visited me. For their trip including their flight tickets I spent almost 8,000 USD. I received cash from them for their expenses which I deposited in my account. I am getting statement printed from my family members (uncle, aunt, father and mother) with their signature and attestation from USA that they gave me cash for their expenses.

I am also attaching all the credit card statements showing booking of their flights and their expenses through my credit card and paid off statements. I deposited the cash in my account and got the bank balance statement along with last 6 months of transaction statements.

The problem I face is will this be a solid evidence of proof of funds. average balance in my account is 2,000 USD and I am showing balance of 11,000 USD. I have a monthly in-hand salary of 4,150 USD with a direct deposit in my same account. I am worried as I haven't kept the money for specific period of time.

I also have a property valuation done from my home country which is worth 67,000 Canadian dollars on my name shared between me and my parents (Property value total 200,000 CAD).

Please guide me if both of these financial proofs will be enough or not. I have only 20 days left to submit my application.

If there is a flow of cash in every month shows in your acc ( not credit card) of some funds used/received/transferd/ transactions then there should be nothing to worry and there is nothing to worry about credit check( in case they ask for any bankruptcy or credit check which they usually don't) unless you pay all your bills on time . then you are probably good to go..And good luck..Hope for the best..!!