Settlement Funds , Assets & Liability Query

[AndySin007]

Dear Seniors,

Assets = House + Gold +Mutual Fund +car+Savings Bank Account+PF+FD
liabilities = Car Loan + House Loan
Settlement Fund = Savings Bank Account + PF+ FD

My Q is, Assets, Liabilities and settlement fund will be mentioned separately , no need to deduct liabilities from assets
Also, Settlement fund is part of assets.

Pls confirm
Thanks

 

[nishesh3003]

Dear Seniors,

Assets = House + Gold +Mutual Fund +car+Savings Bank Account+PF+FD
liabilities = Car Loan + House Loan
Settlement Fund = Savings Bank Account + PF+ FD

My Q is, Assets, Liabilities and settlement fund will be mentioned separately , no need to deduct liabilities from assets
Also, Settlement fund is part of assets.

Pls confirm
Thanks

Assets include settlement funds. The total assets mentioned is always equal or more than the settlement funds. Assets can never be zero or less than settlement funds.

Liabilities may vary understandably.

 

[sharmamanish0976]

Hi , Can you please confirm what all can be counted in liquid settlemet funds. Like provident fund /PPF can also be counted in this or not.

 

[nishesh3003]

Hi , Can you please confirm what all can be counted in liquid settlemet funds. Like provident fund /PPF can also be counted in this or not.

It is up for debate whether PPF can be included in settlement funds. The fact that PPF is not readily available cash fund would be something to take into consideration.

Bank balance and FD are 2 most common sources of fund that are used as POF. This should be held by you individually or jointly by your spouse. This should not be jointly held by any other person such as a sibling or parent.

Make sure the bank statement does not include bulk deposits towards the end of or near end of the statement cycle. This is to justify that the balance is "unencumbered" and it does not raise any flag with the VO.

 

[civilengr]

Hello everyone,

I hope some-one would be able to give their views about this. I had submitted my arranged employment documents along with Post graduate work permit and few days back I had received an email to submit 6 months transaction statements to show the settlement funds and having only 30 days for it. I have 2 questions here:

Does it mean settlement funds = whatever I have – credit card or it has nothing to do with the credit card expenses.

Moreover, since I came to know about this after receiving PER so I was not ready for it, if I make all the transactions now in one account from different sources within 15 days , will it going to effect the visa officer decision?

 

[MIGRANT2014]

Hello everyone,

I hope some-one would be able to give their views about this. I had submitted my arranged employment documents along with Post graduate work permit and few days back I had received an email to submit 6 months transaction statements to show the settlement funds and having only 30 days for it. I have 2 questions here:

Does it mean settlement funds = whatever I have – credit card or it has nothing to do with the credit card expenses.

Moreover, since I came to know about this after receiving PER so I was not ready for it, if I make all the transactions now in one account from different sources within 15 days , will it going to effect the visa officer decision?

Settlement fund is basically the money you have on your own bank account and can be readily available anytime you need it. Credit card limits are NOT qualified as funds because technically if you get from the credit card it will be considered as your payable or liability. Your bank statement must show that there is an activity for a minimum of three months like the withdrawal and deposit. It "might" give the immigration officers a doubt if the account is dormant, newly opened or has very short history. However, if you have a time deposit that does not show any withdrawal/deposit transaction it is understandable, especially if time deposit have 2, 3 or even 5 year term.

 

[civilengr]

I am rephrasing my question since I was not clear,

I hope some-one would be able to give their views about this. I had submitted my arranged employment documents along with Post graduate work permit and few days back I had received an email to submit 6 months transaction statements to show the settlement funds and having only 30 days for it. I have 2 questions here:

Does it mean settlement funds = $12000 and lets say I have debt of $3500

The settlement funds calculated will be $12000 or $8500 Huh Which one will be considered?

Moreover, since I came to know about this after receiving PER so I was not ready for it, if I make all the transactions now in one account from different sources (like foreign currency, sold gold, emergency cash) within 15 days , (I have made the transactions in one account already) The account has been active for 2 years but I have made major transactions to show the required amount in two weeks.

will it going to effect the visa officer decision?

 

[meena84]

I have money in my US bank account, can i show bank statement as the proof of settlement funds?

 

[nishesh3003]

I have money in my US bank account, can i show bank statement as the proof of settlement funds?

If the account solely belongs to you and/or your spouse, then yes you can.