Proof Of Fund (Asset, Liability, Settlement funds)

[Andinu]

In one of the forms to be filled out there are fields which ask about Asset, Liability, Settlement fund. For POF I got my bank to write a letter stating my savings which is enough as a POF.

What must be filled in the other fields Asset & Liability which I don't know the exact amount right now? Should I take a guess?

Thank you in advance!

 

[luqi]

asset is acutually your total fund you've got. e.g if you have 10k$ in bank it's asset.and you have some bank loan, car loan, house loan, due on you to be paid so it's liabilities. generally asset - Liabilites=settlement funds

 

[amit80203]

In one of the forms to be filled out there are fields which ask about Asset, Liability, Settlement fund. For POF I got my bank to write a letter stating my savings which is enough as a POF.

What must be filled in the other fields Asset & Liability which I don't know the exact amount right now? Should I take a guess?

Thank you in advance!

Settlement Fund = Assets - Liability
Liability is loan or any amount that u lend from others.
Hope this helps!!!!

 

[Andinu]

Thank you luqi and amit80203

So is it logical to fill the form as Asset = $19K Liability = 0 settlement fund= $19K disregarding all other properties i have?? Since i don't have other paper to show as POF apart from the savings letter.

 

[amit80203]

Thank you luqi and amit80203

So is it logical to fill the form as Asset = $19K Liability = 0 settlement fund= $19K disregarding all other properties i have?? Since i don't have other paper to show as POF apart from the savings letter.

Yes... go ahead, fill it and file ur application.

 

[Andinu]

Thank you amit80203

I'll just go ahead and do that.

 

[luqi]

yes thats correct.