Proof Of Funds: Showing previously lent money as now received back


#1

Hi All,

I have a question regarding showing proof of funds. I have transferred money approx $8000 to my brother from my BOFA account last year September 2018. Will there be a problem If I show the funds that my brother is returning the lent money back now through bank statements and letter from my brother that he is returning the loan amount. Do I need to do any thing else and if anybody has done similarly to show proof of funds?

Both of us are in USA if that matters.

Thanks,


#2

I don’t think that should be an issue. You could get a letter from your brother just in case. Something along the list of

This is the repayment of the money transferred on dd-MM-yyyy for the amount of $8000 USD.


#3

Thanks for the reply Vignesh!

I am going submit a notarized promissary note from my brother for the $8000, mark it as Paid in Full and put my signature on it.

I will also explain in Letter of Explanation detailing the to and fro transaction to my brother’s account in the bank statements and state that they were related to the loan given to my brother and it is returned to me in full and also attach the promissary note for proof.

Thanks


#4

I’m assuming you are the applicant? In that case it should be fine.