Financial Issues

[LizCtheHopeful]

Hello,

I haven't been able to find exact information about this and wondered if any of you could help me or knew more. It says that if you have extreme financial issues you won't be allowed to immigrate (and I'm a couple years out, still saving the money for my spouse and I as we are coming from the US, etc), but wondered what do those financial things constitute? if one has the money saved and meet the other requirements are they allowed or what sorts of things bar them from entry? is there a place for me to find this out? I don't mind doing the legwork myself, just haven't been able to find it so far...

thank you!

 

[spousalsponsee]

It would be easier to answer a more focused question.

Some of the immigration routes to Canada have minimum thresholds for assets/income. Others require certain financial statuses (eg not being bankrupt), but no $ minimums.

If you know what route you're going for, people can tell you exactly what the financial requirements (if any) are, and if you say where you read about 'extreme financial issues', that can also be explained (is it in an official document? Someone's blog? A random forum post about what someone once heard at a presentaiton? etc).

All the requirements for immigrating to Canada will be on the official websites for CIC (cic.gc.ca), and the provincial nomination routes will have their own official sites. Those are the best places to check, depending on the route you're looking at.

 

[scylla]

Normally there would be two things that could be barriers to immigration. One is criminal issues (even something as simple as a DUI). The second is health issues. So if you have financial issues that could result in charges - that would be a barrier to immigration.

 

[LizCtheHopeful]

Thank you for that. More focused:
--I have had to filed for bankruptcy here in the US, however it's been discharged and my credit is in the history of rebuilding and is congruent with others in the same boat. By the time of applying for PR status, I'll have all the money for my spouse and I and that won't be a problem. More specifically, do they check credit score/make judgements based upon debt to income ratio/previous bankruptcies/previous credit issues? This is something that worries me. I do have a slew of student loans, however none were borrowed inappropriately.

Also, I don't have any collection accounts, but my spouse does. Do those count against you for the sake of this? Just trying to get it all sorted and can't find any clear information.

I don't have any criminal issues at all and I looked at the official site and it said "financial reasons" and said unable/unwilling to support one's family/self and didn't know if that included credit score etc (even though I know that the credit histories don't translate from country to country and I would be rebuilding totally there which is more than fine) and the blogs and such I've read have been vague, so was hoping to find something more specific. I have googled and can't find anything regarding the credit score issue.

Thank you in advance.