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Settlement funds

bonsai

Star Member
Oct 24, 2009
132
1
I have a question, I have a car right now which is finance by a bank. Should I list it in my settlement funds?

"For assets such as a house, apartment, automobile or land owned by you (and/or your spouse or common-law partner, if applicable) submit proof of ownership and an official statement of valuation."

It is not yet owned because I haven't finished paying for it but should I also add it? Do I need an official statement of valuation for it or can I just add the original amount of the car to my assets and then put the amount I still owe them on my liabilities?

Please help, I am not good with accounting haha.
 

rocky272727

VIP Member
May 21, 2009
3,121
166
Job Offer........
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bonsai said:
I have a question, I have a car right now which is finance by a bank. Should I list it in my settlement funds?

"For assets such as a house, apartment, automobile or land owned by you (and/or your spouse or common-law partner, if applicable) submit proof of ownership and an official statement of valuation."

It is not yet owned because I haven't finished paying for it but should I also add it? Do I need an official statement of valuation for it or can I just add the original amount of the car to my assets and then put the amount I still owe them on my liabilities?

Please help, I am not good with accounting haha.
First kindly share with us that which local visa office have you selected for processing your file as every visa office has its own rules
 

Amitraj1978

Star Member
Apr 22, 2010
151
21
Category........
Visa Office......
LONDON
Job Offer........
Pre-Assessed..
bonsai said:
I have a question, I have a car right now which is finance by a bank. Should I list it in my settlement funds?

"For assets such as a house, apartment, automobile or land owned by you (and/or your spouse or common-law partner, if applicable) submit proof of ownership and an official statement of valuation."

It is not yet owned because I haven't finished paying for it but should I also add it? Do I need an official statement of valuation for it or can I just add the original amount of the car to my assets and then put the amount I still owe them on my liabilities?

Please help, I am not good with accounting haha.
Bonsai,

its all depends on the Visa Office.you have to check with your visa office(they all mostly has different view on valuation of Funds)

normally you have to show all funds in Liquid form(means in Cash form in Bank A/C.its a best option)you hv to show A/C Balance Certificate issue by a Bank.you can attach last 3 to 6 months bank statement to shows how long you are maintaining that fund in A/C.

Regards,
 

bonsai

Star Member
Oct 24, 2009
132
1
I am applying in Manila Office. So I can just show my bank statements then and not add my car which the bank is financing right now? Thank you.