Hi,
I provide the bank certificate with the application which shows the required funds. Now last month i purchased new car through bank financing that bank loan is appearing in my second bank account which i never disclosed to VO, as this is my secondary account, my salary is not credited to this account. Now the situation is that if they consider only my salary account there will be no problem, as I maintained the minimum fund required throughout the period since I applied for Canadian immigration, however if they asked for the credit history from the central bank or bank regulatory authorities that car lease will appear in that and the net worth will be negative in term of cash/liquid assets.
My consultant is saying that they might reject your case on that basis. I told him that if the bank loan will appear than there is also asset against that loan (the car itself). But he said they might contact the central bank or regulatory authorities to provide the credit history and based in that they will reject my case. I am very worried. Please clarify.
Secondly if they caught the loan will they give chance say 30 days or 60 days to pay off the loan, will it OK if i sell the car at that time and pay off the money. What is the normal practice, will they the bank certificate which I provide or they will contact for credit history?
One more thing, will the property or other fixed asset can be used as a substitute for cash/bank balance.
Please advice.
