Loan in account

[sswas]

Hi All,

For POF I have sold gold and I have a proper bill and a photocopy of the cheque that was deposited in my bank. Now in the bank that I had deposited the cheque has a personal loan running with an outstanding amount is around CAD 2900. If I don't mention that I have a personal loan will that be a problem? and if I do will CIC agent will deduct the outstanding amount from the total POF that we are declaring?

Is there a way that I can show a different bank account by transferring this amount?

 

[superspecial90]

Hi All,

For POF I have sold gold and I have a proper bill and a photocopy of the cheque that was deposited in my bank. Now in the bank that I had deposited the cheque has a personal loan running with an outstanding amount is around CAD 2900. If I don't mention that I have a personal loan will that be a problem? and if I do will CIC agent will deduct the outstanding amount from the total POF that we are declaring?

Is there a way that I can show a different bank account by transferring this amount?

Will this loan show up in a statement?
If yes, this will be deducted to decide if you have the minimum required fund.

Otherwise, put the money in a different account and submit a statement from that account.

 

[sswas]

Will this loan show up in a statement?
If yes, this will be deducted to decide if you have the minimum required fund.

Otherwise, put the money in a different account and submit a statement from that account.

If I put this money in another account then will I have to attach bank statement from the account that is being transferred? for example, bank 1 transferred to bank 2 then do I need to show bank 1 statement as well? and next week I have to submit my documents. I was unaware of the loan bit.