Credit card debts and loans

[Rose1990]

Hi, My family and I are applying for express entry and our names are in the pool already. I am the main applicant but our POF will be from my husband's account since he is the one who has the money. I have credit card debts of about 5,000 USD plus a loan balance of about 10,000USD. Will these affect our application? Again we will be using my husband's bank account for POF.

I am planning to pay these debts slowly. I am a teacher and not paid much here.
Thank you

 

[TempResident]

You must have the financial requirement net of any debts.. if that’s the case, you should be fine.

 

[canuck78]

Hi, My family and I are applying for express entry and our names are in the pool already. I am the main applicant but our POF will be from my husband's account since he is the one who has the money. I have credit card debts of about 5,000 USD plus a loan balance of about 10,000USD. Will these affect our application? Again we will be using my husband's bank account for POF.

I am planning to pay these debts slowly. I am a teacher and not paid much here.
Thank you

You have to declare the debts

 

[Rose1990]

You have to declare the debts

Will it affect my application though?

 

[Rose1990]

You must have the financial requirement net of any debts.. if that’s the case, you should be fine.

If that’s the case my debt will be more than the total money we have. Will if affect my application?

 

[Naturgrl]

If that’s the case my debt will be more than the total money we have. Will if affect my application?

Yes because then you don’t meet the minimum Proof of Funds.