December Application OINP

[maged_mmh]

People have submitted bank statement showing debits going towards home loans and got their visas. From my observation of the reports on the forum, IRCC is more inclined to see the amount of funds that you possess than the funds that you owe. If the funds you show are unencumbered, the applicant is good to go, IMO.

home loans are not debt if it's a mortgage .. I think that's why they overlooked it

 

[rajkamalmohanram]

home loans are not debt if it's a mortgage .. I think that's why they overlooked it

That was an example. Well, if you want to show your debts, feel free to. Just make sure that after subtracting total liabilities from total assets, you still have at least the minimum required funds.

 

[maged_mmh]

That was an example. Well, if you want to show your debts, feel free to. Just make sure that after subtracting total liabilities from total assets, you still have at least the minimum required funds.

the problem is the banks here refuse to issue a debt statement for cards; they say we can't attest for something so variable and unsecured (in case on unsecured cards)

 

[skdubai]

the problem is the banks here refuse to issue a debt statement for cards; they say we can't attest for something so variable and unsecured (in case on unsecured cards)

Why are you making your life so difficult. A credit card is not something you need to inform OINP or IRCC about. Find one place on their guide where they ask for the list of your liabilities.

 

[maged_mmh]

Why are you making your life so difficult. A credit card is not something you need to inform OINP or IRCC about. Find one place on their guide where they ask for the list of your liabilities.

they do mention it: http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

 

[bestofluck]

they do mention it: http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

That is about credit card debts which means any oustanding payment or OD on that account. This will be desplayed in bank statements. So bank statements is okay.

 

[skdubai]

they do mention it: http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

Interesting, I have only ever looked at this page (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp) for proof of funds requirements. This page I have never seen. So it does seem they now want to know your liabilities too..

this is what they say there now

The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.

 

[maged_mmh]

Interesting, I have only ever looked at this page (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp) for proof of funds requirements. This page I have never seen. So it does seem they now want to know your liabilities too..

this is what they say there now

The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.

I'm confused.

but lots of guys here on the forum say not to mention credit cards

 

[maged_mmh]

That is about credit card debts which means any oustanding payment or OD on that account. This will be desplayed in bank statements. So bank statements is okay.

no it doesn't show.

credit cards statement are separate from account statements, even the pay out is show as transfer only

 

[skdubai]

I'm confused.

but lots of guys here on the forum say not to mention credit cards

Couldnt you just send them a credit card statement along with your bank statement? is the debt big enough to reduce your available balance below the minimum required?

 

[maged_mmh]

Couldnt you just send them a credit card statement along with your bank statement? is the debt big enough to reduce your available balance below the minimum required?

actually I have standing instructions to pay in full on due dates, so the statements always show zero for the past 6 years, even for the ceiling it's well covered by my savings.

the thing is I don't want to complicate my case, that's why I ask what is the best we can do?

 

[bestofluck]

actually I have standing instructions to pay in full on due dates, so the statements always show zero for the past 6 years, even for the ceiling it's well covered by my savings.

the thing is I don't want to complicate my case, that's why I ask what is the best we can do?

What I understand is you need an encumbered funds means debt free. which means the FD you show must not be mortgaged or no amount should have been withdrawn against those FDs. Credit card is totally diff story. Show them unencumbered funds i.e FDs which have no loans or OD against that FD nos.

Suppose I have a FD of rs 2 lakhs but i have a withdrawn amount in form of OD against that FD than it is not valid. But any FD which has such OD taken against it will reflect in statement or mentioned on the FD that OD has been taken on this FD. In India the banks will keep the original FD with them if there is a OD taken on that FD.

 

[skdubai]

actually I have standing instructions to pay in full on due dates, so the statements always show zero for the past 6 years, even for the ceiling it's well covered by my savings.

the thing is I don't want to complicate my case, that's why I ask what is the best we can do?

I think if you don't want to complicate things, you should just submit the bank/FD statement. Forget about the credit card all together.

Since you are not hiding some huge debt, there is no question of misrepresentation. However, if you are convinced that they will want to know about the credit card, just send copies of the credit card statements for a few months with an explanation letter stating that you saw the requirements on the website about the debt and have attached the credit card statement as proof that you do not have any.

If I were you, I would just not bother and submit the bank statement alone.

 

[bestofluck]

Bestofluck

The approximate remaining NoMs on this forum; Nov 18, Dec 47, Jan 131, Feb 100, Mar 100. More than 50 % are CEC. Do you for see OINP issuing NoMs to all applicants before year end or it will enter 2017. I know it's difficult to speculate.

They are simultaneously clearing CEC applicants so the numbers remaining are not so high that they cannot nominate all in 2 months. I feel they will almost nominate everyone by 2016.

 

[imrankhan2015]

In the current scenario, I don't think it will be possible for OINP to nominate everyone before Christmas holidays. In my opinion, they may nominate everyone by first or second week of February 2017