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Car loan in Proof of Funds

SergeiK

Star Member
Nov 28, 2017
77
44
Had a car loan with BofA and somehow they didn't show it on the official letter. Basically they showed only debit accounts, no loans, no credit cards
 
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kalebhushan

Star Member
Apr 4, 2018
94
5
Mumbai IN
Category........
FSW
Visa Office......
Delhi
NOC Code......
2173
AOR Received.
04-09-2018
Med's Done....
27-09-2018
Passport Req..
25-01-2019
Had a car loan with BofA and somehow they didn't show it on the official letter. Basically they showed only debit accounts, no loans, no credit cards
Oh sweet, and am assuming that worked just fine with IRCC.
 

SergeiK

Star Member
Nov 28, 2017
77
44
Oh sweet, and am assuming that worked just fine with IRCC.
Yes, already got my ppr and COPR is on the way.
Of course I have a little less money they I showed initially, but it's still higher than their limit. I don't think there'll be issues at the border.
 
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kalebhushan

Star Member
Apr 4, 2018
94
5
Mumbai IN
Category........
FSW
Visa Office......
Delhi
NOC Code......
2173
AOR Received.
04-09-2018
Med's Done....
27-09-2018
Passport Req..
25-01-2019
Yes, already got my ppr and COPR is on the way.
Of course I have a little less money they I showed initially, but it's still higher than their limit. I don't think there'll be issues at the border.
Awesome, all the best!!!
 
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Arod

Hero Member
May 15, 2017
310
301
So I just got my GCMS notes and the Eligibility shows "Review Required" due to POF, though I have more than the required amount in my account.

When I go to the comments section to understand what is going on I find the following "Review Required Approx CAD $xxxx(less than the required amount) - CAD $xxxx(more than the required amount) as per Bank Statement. Family of 2 requires CAD $15,531 NOTE: PA has a mortgage balance of XXXXX and other loan of CAD $xxxxxx. PA states in client Info EDOC # XXXXXX the second loan is for a car, however total sum of available finances takes into account balance owing for second loan"

Isn't it true that car loans should not affect the POF? Why are they subtracting my car loan from my total POF?

@legalfalcon @DelPiero07 Any comments you can provide?
 

kalebhushan

Star Member
Apr 4, 2018
94
5
Mumbai IN
Category........
FSW
Visa Office......
Delhi
NOC Code......
2173
AOR Received.
04-09-2018
Med's Done....
27-09-2018
Passport Req..
25-01-2019
So I just got my GCMS notes and the Eligibility shows "Review Required" due to POF, though I have more than the required amount in my account.

When I go to the comments section to understand what is going on I find the following "Review Required Approx CAD $xxxx(less than the required amount) - CAD $xxxx(more than the required amount) as per Bank Statement. Family of 2 requires CAD $15,531 NOTE: PA has a mortgage balance of XXXXX and other loan of CAD $xxxxxx. PA states in client Info EDOC # XXXXXX the second loan is for a car, however total sum of available finances takes into account balance owing for second loan"

Isn't it true that car loans should not affect the POF? Why are they subtracting my car loan from my total POF?

@legalfalcon @DelPiero07 Any comments you can provide?
Am sorry to hear that. Did you declare car loans in your POF when you submitted your e-APR or did they just randomly find out themselves?
 

Arod

Hero Member
May 15, 2017
310
301
Am sorry to hear that. Did you declare car loans in your POF when you submitted your e-APR or did they just randomly find out themselves?
Yes, I specifically mentioned both loans (Mortgage and car) in my LOE. On the other hand, in the summary notes section for A11.2 it says "Appears Met" so I don't know what to think of all of this.
 

kalebhushan

Star Member
Apr 4, 2018
94
5
Mumbai IN
Category........
FSW
Visa Office......
Delhi
NOC Code......
2173
AOR Received.
04-09-2018
Med's Done....
27-09-2018
Passport Req..
25-01-2019
Yes, I specifically mentioned both loans (Mortgage and car) in my LOE. On the other hand, in the summary notes section for A11.2 it says "Appears Met" so I don't know what to think of all of this.
Oh boy. Lets wait for the experts to comment and I hope everything goes well.
 

legalfalcon

VIP Member
Sep 21, 2015
8,865
4,362
Montréal, Quebec, Canada
Category........
FSW
Visa Office......
Ottawa
NOC Code......
4112
App. Filed.......
03-09-2015
Doc's Request.
01-10-2015
AOR Received.
03-09-2015
Med's Done....
17-08-2015
Passport Req..
05-04-2016
VISA ISSUED...
12-04-2016
LANDED..........
05-05-2016
So I just got my GCMS notes and the Eligibility shows "Review Required" due to POF, though I have more than the required amount in my account.

When I go to the comments section to understand what is going on I find the following "Review Required Approx CAD $xxxx(less than the required amount) - CAD $xxxx(more than the required amount) as per Bank Statement. Family of 2 requires CAD $15,531 NOTE: PA has a mortgage balance of XXXXX and other loan of CAD $xxxxxx. PA states in client Info EDOC # XXXXXX the second loan is for a car, however total sum of available finances takes into account balance owing for second loan"

Isn't it true that car loans should not affect the POF? Why are they subtracting my car loan from my total POF?

@legalfalcon @DelPiero07 Any comments you can provide?
The balances of mortgage is deducted from the PoF. However, it depends on the discretion of the officer. This is a recommendation from a program assistant or an analysts, and now will depend on the officer to make a determination.

PoF per se is not a ground of inadmissibility, like that of eligibility, criminality and medicals.

However, if you can, send in a revised PoF by adding more funds and describe where the finds came from to meet the 6 months average balance requirement.
 

kalebhushan

Star Member
Apr 4, 2018
94
5
Mumbai IN
Category........
FSW
Visa Office......
Delhi
NOC Code......
2173
AOR Received.
04-09-2018
Med's Done....
27-09-2018
Passport Req..
25-01-2019
The balances of mortgage is deducted from the PoF. However, it depends on the discretion of the officer. This is a recommendation from a program assistant or an analysts, and now will depend on the officer to make a determination.

PoF per se is not a ground of inadmissibility, like that of eligibility, criminality and medicals.

However, if you can, send in a revised PoF by adding more funds and describe where the finds came from to meet the 6 months average balance requirement.
If loans arent declared, is there a way CIC can still find them?
 

legalfalcon

VIP Member
Sep 21, 2015
8,865
4,362
Montréal, Quebec, Canada
Category........
FSW
Visa Office......
Ottawa
NOC Code......
4112
App. Filed.......
03-09-2015
Doc's Request.
01-10-2015
AOR Received.
03-09-2015
Med's Done....
17-08-2015
Passport Req..
05-04-2016
VISA ISSUED...
12-04-2016
LANDED..........
05-05-2016
If loans arent declared, is there a way CIC can still find them?
If they are from the same bank yes.

For other banks, they will not disclose under the privacy agreement with you.
 
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Arod

Hero Member
May 15, 2017
310
301
The balances of mortgage is deducted from the PoF. However, it depends on the discretion of the officer. This is a recommendation from a program assistant or an analysts, and now will depend on the officer to make a determination.

PoF per se is not a ground of inadmissibility, like that of eligibility, criminality and medicals.

However, if you can, send in a revised PoF by adding more funds and describe where the finds came from to meet the 6 months average balance requirement.
Thanks a lot for the response.

I wonder if you could clarify the below statement:

"PoF per se is not a ground of inadmissibility, like that of eligibility, criminality and medicals."

Does this mean that an application cannot be rejected based solely on POF related matters? What happens then? Do they send you ADR's, etc? Because I haven't received anything since my AOR in March.
 

Hrishi2704

Full Member
Jul 30, 2018
26
2
Hi Guys,

I have a similar question on disclosure of car loan in the PR Process.

I have a car loan from Bank X. I'm using Bank X only for the car loan. There are no other transactions on Bank X whatsoever. The car loan on Bank X is being paid from my primary account with Bank Y.

In this case, I guess I just have to disclose my transactions on Bank Y, right? Besides, car is an asset which can be liquidated. Though, there's a chance that the monthly EMI being transferred to the loan account on Bank X could be visible in the statements of Bank Y.

Any help is appreciated.

Thank you!

Rishi
 

D-source

Star Member
Dec 18, 2018
92
43
Had a car loan with BofA and somehow they didn't show it on the official letter. Basically they showed only debit accounts, no loans, no credit cards
Hi.. Did you just provided the official letter from BofA or also attached bank statements for last 6 months. Thanks!
 

SergeiK

Star Member
Nov 28, 2017
77
44
Hi.. Did you just provided the official letter from BofA or also attached bank statements for last 6 months. Thanks!
I ordered an official letter from BofA. I didn't attach any additional statements. Though I payed off the cars before leaving, at the moment of ordering / getting the letter the loans were active. One of them was even in BofA. None of them were reflected on the letter.