Hi

I am aware that my Fiancee and I will have to prove that we have $12,659 when we finally emmigrate to Canada.

My question is when do they ask you to prove this? We applied 1 year ago so is it when we receive our 90 day letter?

Also, we have a fair amount of debt and we would like to know if they look into this and if it affects your application?

Thanks for your help

Yes they look at your debt. However, if it's student loans I think they are a little more lenient.

As the application process has changed a bit since we applied, I can only go off what we had to do. We had to prove we had the money in our initial application (equity of property was fine), then again when we got out 90 day letter (equity of property was fine here also). However, when we come to land in 2 weeks we need to prove settlement funds in liquid-able terms - e.g. Bank statement, it can not be tied up.

Icklehelen is exactly right, but just wanted to add that the amount required tends to go up each year, it's now $13,198 rather than the $12,659 you quoted.

Hope that helps.

[QUOTE=IckleHelen;6867233]Yes they look at your debt. However, if it's student loans I think they are a little more lenient.

hello,

Are you sure they are looking at your debt ? I alawys tought you only had to have the amount in your bank account. Do you have to declare the credit card you have ?

Stefkeuk

Yes I am. Here is a quote from our 90 Day letter dated 5th Feb 08. I can't comment if it's changed since, can't see why it would though.

"Evidence of sufficient settlement funds. You must submit proof of savings, property ownership documents (with a statement of the outstanding mortgage & official valuation) as well as proof of any other assets. This must include debts or other financial obligations."

Shoot!!! So does this mean that if jepordizes your application? Does it have an effect of the decision as to whether you are granted PR or not?

Thanks for the update!!!

I am reluctant to say yes to this question, as I'm not any kind of authority on the subject. However, it would seem logical that if you can't prove you have the settlement funds then they won't let you in. The amount of money they ask for you to prove you have is what they believe you can live on (without getting employment) for about 6 months. If you're still paying off debts accrued in the UK then this money won't last you. Additionally many loans carry with them a clause that states it is repayable on demand, if the lender does ask you to pay it back then if you're not working this would have to come out of your settlement funds. When I said in my first post that I though Student loans were an exception, this is because they are income dependent. If your not earning any money, you don't have to pay anything off your student loan at that time.

Depending upon the amount of debt, you can make your financial position look better, by providing statements dated the day after you get paid.

Sorry to bring bad news, maybe someone who knows more about this could offer you some hope.

We've applied through the Manitoba PNP. I emailed the immigration officer this evening to check the status of our application (it's been almost four months now and I'm getting impatient - not that we can do anything till we've sold the house though ), and she replied saying she needs our 'proof of funds' documents. She said it's not the mortgage statement, it's got to be proof of 'liquid' funds, i.e. ready cash. Lucky my parents gave us £10k as a wedding present back in April, so this is what we're going to use as proof (thank god for that! what if we didn't have any 'liquid' funds?? ).

So anyway, am just wondering... does the fact that she's asked for this bode well for our application? Surely she wouldn't ask for this information unless she was confident that we were going to be successfully nominated?

Anita

We got a bloody toaster !

Well actually it was part of my inheritance early, but it was a nice gesture all the same (rather me have it now than Gordon Brown get 40% of it in years to come! )