Hi there I just had a quick question about the financial letters you need after ITA for the PR application. It says that you need letters from each bank that state account numbers, debt etc. I have some debt but not with the bank. Do I need letters from my credit card company also?
No. Just get a bank certificate/letter with the required details and submit it as POF. No need at all to get into any more details about your personal financials.
Also I know that this topic might have been up before but am I right in assuming that becuase I have 15000 dollars in current accounts none of which is associated with debt, that even if I have some credit card debt on the side the CIC wont penalise me for having it against the positive money I have if that makes sense? Basically as I have debt will the CIC offset this against my positive and deem me unfit for application?
Keep your debt out of your PR application. That is for you to manage at your end. CIC doesn't allow you to showcase any assets that you might have against this debt hence it will be ludicrous to attempt to showcase the debt alone because that would always put you in a net negative situation. As I mentioned above, all you need to do is inform CIC that you have 15000 CAD which aren't borrowed and that needs to be provided by your bank in a particular format.
Any advice greatly appreciated.
Cheers,
Gup