christmasoompa

Yep, what Schnooks said. You mention 'ourselves', so there must be at least two of you, meaning you need to show a total of $15,312 (more if there is more than just you and a spouse), it's not $13,000. Add on your debt of $15,000 and you can see that you actually need at least $30,512 in your bank account to meet the requirements.

HTH.

Robben

Yes, thank you. I need to make sure my funds are in place. Thank you!

christmasoompa

What are you scoring on the CRS and how far along in the process are you - have you had your ECA and IELTS results back? If not, or if you are borderline for points, you will have extra time to get the money together which could help. But if you've already got all your documents together and are scoring enough to get an invite very quickly, then definitely make sure your funds are all sorted first.

Good luck.

Robben

Sure! I am still in a process of writing my IELTS. Not sure yet with ECA. Just at the beginning. Thank you by the way.

christmasoompa

Ah, ok, you've got a good few months before you'll be applying then, plenty of time to get your funds sorted.

Best of luck.

Engineer_abroad

Just to check, it makes a difference to proof of funds, are you currently in Canada and have at least one years skilled work experience?

Robben

Hey guyz, checked with my creditor. He says if I can not pay my outstanding balance of 15000 CAD, which I said, will be paying back. The bank will take it to the court and announce a judgement against me. In that case, I can not buy a house or take a loan anywhere in Canada. Please advice; if it might effect my PCC as a judgement is being passed.

Engineer_abroad

Of course they say that, they were hardly going to say 'no, we will left you off'.

As FL says above it will only impact you if you are convicted of a criminal offense, i.e. you are arrested and charged with a crime.

Civil cases in front of a court and any subsequent judgments will have no bearing on the PR application providing you meet minimum proof of funds requirements, if applicable.

Note if you are invited under CEC these wouldn't count anyway.
Who can apply: Canadian Experience Class

I would suggest you talk to the creditor and enter into a payment plan that you can afford and that satisfies the creditor. The costs will only spiral if they do take you to court and start applying court fees to the debt.

Robben

Sure, thank you for your advice. I am already in a discussion to make a payment plan. Thank you guyz.

Aviator

From a credit perspective, the unpaid debt will affect an ability to get credit, without a court judgement. It will likley be reported to one, or both credit bureaus.

I have taken far smaller amounts to court, although getting judgement and enforcing payment are quite different, although it can be done.

Making a payment plan and keeping the debt away from collections agents or the courts is a sensible choice.

If they are after the full amount of the debt, what happened to the car you 'dropped off'?

Robben

I surrendered the vechile with a very good condition. They told me it will effect your credit history till 7 years. It is called as re-position. My file is currently with the bank escalation team it seems.

scilly

when did all this happen?

ie, when were you last in Canada?

When did you "drop off" the car at the bank?

How long have you been back in the UK?

Exactly what stage are you at in the current process of applying to re-enter Canada?

Robben

This happened in April 2017. I have been in Canada for 1 year 9 months. I am at the beginning stage of my PR application.

DandNHill

Can you not negotiate a payment plan? That way you will have an arrangement in place and thus protect your credit rating.

Engineer_abroad

Are you still in Canada? Are you currently legally working in Canada? Do you have one year skilled work experience in Canada?

Do you qualify for Canadian Experience Class for PR? If so proof of funds do not apply.