Using gold jewellery as assets

[sachinky 464]

I have a question--I, the Indian beneficiary, received some gold jewellery from my parents and other guests as wedding gifts as is often the custom in India. Could I use them as assets? Has anyone done this before? Of course, I'll get it weighed, valued, certified etc. and express it in terms of USD. It'll be around $8,000. I mean gold is as good as liquid cash and only appreciates in value. Just wondering if anyone had any thoughts on this?

I would just like to present the strongest financial case possible and contribute to our AOS.

P.S.: My husband is currently earning $21,620 and we have about $3000 in our bank accounts (2 person household). We should be good for the interview, right?

[Nikita2Charles 31]

You should be fine Sachinky

You guys are over the povery line, so you should be all set, just relax!!

The 2009 Poverty Guidelines for the

48 Contiguous States and the District of Columbia Persons in family Poverty guideline

1 $10,830

2 14,570

3 18,310

4 22,050

5 25,790

6 29,530

7 33,270

8 37,010

For families with more than 8 persons, add $3,740 for each additional person.

http://aspe.hhs.gov/POVERTY/09fedreg.shtml

[sachinky 464]

I'm probably just overthinking this stuff at the last moment. GAH. This AOS is going to be the death of me.

[jjcentral 0]

You are over the definitely over the 2009 Poverty Guidelines for the visa, but not that far. So I would suggest get all the resources you can and include more liquid assets. Being the economy now, having few thousands in the bank is a big deal. So you are good. Make sure you know if there are any credit/loan that exist too. Good Luck.

[sachinky 464]

Thanks for your input. I'll look into this as a backup.

Nope, no loans/debts.

[malka e alia 0]

I'm probably just overthinking this stuff at the last moment. GAH. This AOS is going to be the death of me.

I think you will be fine. I kind of have the same problem, but you are well over the poverty line. Don't worry!

[Darnell 8,478]

The formula is nasty.

to be 'above' - it's:

Income + (1/3 of the USC's persons assets amount ) + (1/5 of the foreign person's assets ) .

There's some other computation on the 'differences' between income and assets, I can't recall at the moment.

Gold can be used, sure. If it's that glorious Indian Gold at 99.99 percent pure, similar to KrugerRaand Pure, that's even better.

The thing that I find troublesome is that the foreign spouses assets CONTRIBUTION to the 'amount' is computed at 1/5 of the actual asset amount.

[Ready2Kl 1]

Thanks for your input. I'll look into this as a backup.

Nope, no loans/debts.

They also have discretion to look at your future earnings potential in addition to existing assets to determine if you will become a burden by probably utilizing public means tested benefits in future. In your case you seem young and educated here in US previously so they definitely understand you can get a decent job and wont be a burden on the society.

[sachinky 464]

Thanks for your replies, everyone.

I sure hope we'll be fine.