money required when immigrating

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Subject: money required when immigrating
  hi guys!

i have a friend who´s planning to get part of the money through credit(bank loan) i know that the money has to stay in his account and not move while the application is being processed. the question is, can a bank loan be used as part of the money that he will have in his account? or will it be invalid since its a loan?

thanks! any response or direction to a site where i can get more information is greatly appreciated!

[10-03-2006,13:36]
[**.156.101.107]
o.m.g
(in reply to: money required when immigrating)
the word unemcumbered is used in all immigration forms. a loan does not qualify
[10-03-2006,15:43]
[***.20.170.23]
Sharon
(in reply to: money required when immigrating)
hi,

i was just curious who wud know if that money in ur account is from a loan`?

[10-03-2006,19:08]
[**.141.134.55]
Anonymous
(in reply to: money required when immigrating)
I think if I were your friend I would make sure that I take the loan as early as possible, and let it show in the bank account. This way if CIC asked for 3months bank statement, your friend would not have to explain how the money got there. A sudden deposit in the last 3 months account does not look good?

Most of us take some kind of loan, housing, car, creditcard and the cash we have in our accounts are never enough to pay off all these loans.

So there! we all take loans.

[10-03-2006,20:57]
[***.94.80.140]
ang
(in reply to: money required when immigrating)
ang has a point. Is there really any such things as unemcumbered funds, for the average middle class person?. DON"T THINK SO!! I own a home,and still got at least twenty something years worth of payements to make... unless i win the lottery, this is cumbersome, don´t you think?. All credit cards are payed off, car is paid for, have money in my bank account, but i still owe somebody a lot more, ie. mortgage company?


[10-03-2006,21:09]
[***.188.116.71]
IDO
money required (in reply to: money required when immigrating)
Right on, IDO! I may die with a mortgage!
[11-03-2006,14:19]
[**.213.114.164]
Bob
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