POF Issue

[JoacRy]

Hi so I'm going to see the bank manager on Thursday to draft my letter for POF. By then I will have paid my credit card off and have no liability.

I was just thinking thought do we need to mention in LOE that even though the bank letter says no liability, should we mention we have credit card liability for RPRF fee and Application processing fee?

Thanks for your replies.

 

[Gregor.Samsa]

Hi so I'm going to see the bank manager on Thursday to draft my letter for POF. By then I will have paid my credit card off and have no liability.

I was just thinking thought do we need to mention in LOE that even though the bank letter says no liability, should we mention we have credit card liability for RPRF fee and Application processing fee?

Thanks for your replies.

Usually Bank letter states ALL your bank accounts, RSP, TFSA, Credit cards, and anything else current situation

It's not a problem to have credit card pending regular payments.

Additionally you'll need 6 months statements for everything (accounts, credit cards...)

All of them will be your POF.

If you have something else like a buyer house you should add information about house value and mortgage.

Your own cover letter is recomemded to explain wich documents are you sending and why.

 

[ozlis]

Hi so I'm going to see the bank manager on Thursday to draft my letter for POF. By then I will have paid my credit card off and have no liability.

I was just thinking thought do we need to mention in LOE that even though the bank letter says no liability, should we mention we have credit card liability for RPRF fee and Application processing fee?

Thanks for your replies.

I think it is fair for you to assume that CIC knows that the RPRF fee is coming out of your available funds, credit card or otherwise. No need to state it.

 

[JoacRy]

Thanks @ozilis. +1 for you.

Seems like wherever I go in the world I can count on the help and support if at least 1 other Australian.

Thanks very much.