Jump to content
Sign in to follow this  
sevie

poverty income requirementsHi e

6 posts in this topic

Recommended Posts

Filed: K-1 Visa Country: Guatemala
Timeline

Hello everyone, I'm new to this board and I have a question about the income requirement. well, I quit my job 3 years ago and since then I've been traveling. Now, I met someone(Guatemala) and I want to start the k1 process, but I have no proof of income. I was wondering if I can use my cash and assets in lieu of the w2 income? I have a significant amount of cash available and I own my home mortgage free.

I doubt it very much if I can find a job before the start of the interview to use.

My problem is with the form I 864 because I really don't know anyone that will take on that type of responsibility for me and my siblings always ask me to co sign for items for them and I always tell them no, so it's unlikely they will do it.

Share this post


Link to post
Share on other sites

Hello everyone, I'm new to this board and I have a question about the income requirement. well, I quit my job 3 years ago and since then I've been traveling. Now, I met someone(Guatemala) and I want to start the k1 process, but I have no proof of income. I was wondering if I can use my cash and assets in lieu of the w2 income? I have a significant amount of cash available and I own my home mortgage free.

I doubt it very much if I can find a job before the start of the interview to use.

My problem is with the form I 864 because I really don't know anyone that will take on that type of responsibility for me and my siblings always ask me to co sign for items for them and I always tell them no, so it's unlikely they will do it.

Poverty Guidelines: LINK

I-864 Instructions: LINK

Quoted from the above:

"Assets may suppliment income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted into cash within one year without undue harm to the sponsor or his or her family members."

"In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current poverty guidelines for your household size. However, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference."

Edited by TwoCats

kitsig.jpg

K-1 Visa/ AOS Timeline:
(Detailed info on our timeline can be found here: About us)

ROC Timeline:

02/10/2014 - ROC Sent.

02/12/2014 - NOA1 Date.

03/11/2014 - Biometrics Date.

05/28/2014 - Card Production.

Share this post


Link to post
Share on other sites
Filed: IR-1/CR-1 Visa Country: Vietnam
Timeline

You will use the form I-134 to support the K1 petition. After marriage at the Adjustment of status phase the I-864 will be used. Most consulates follow the I-864 requirements when evaluating the I-134. And the I-864 instructions are much more thorough.

Assets are considerd at a 3:1 ratio. And the assets must be easily converted into cash within 1 year without causing undue harm to the holder. That's where the type of asset used can be tricky.

A home owned free and clear will be more likely accepted than one with a significant mortgage balance. Retirement accounts with substantial penalties for early withdrawls may not be accepted as quickly as a stock portfolio.

And of course, cash holdings are king.


I-864 Affidavit of Support FAQ -->> https://travel.state.gov/content/visas/en/immigrate/immigrant-process/documents/support/i-864-frequently-asked-questions.html

FOREIGN INCOME REPORTING & TAX FILING -->> https://www.irs.gov/publications/p54/ch01.html#en_US_2015_publink100047318

CALL THIS NUMBER TO ORDER IRS TAX TRANSCRIPTS >> 800-908-9946

PLEASE READ THE GUIDES -->> Link to Visa Journey Guides

MULTI ENTRY SPOUSE VISA TO VN -->>Link to Visa Exemption for Vietnamese Residents Overseas & Their Spouses

Share this post


Link to post
Share on other sites
Filed: K-1 Visa Country: Guatemala
Timeline

You will use the form I-134 to support the K1 petition. After marriage at the Adjustment of status phase the I-864 will be used. Most consulates follow the I-864 requirements when evaluating the I-134. And the I-864 instructions are much more thorough.

Assets are considerd at a 3:1 ratio. And the assets must be easily converted into cash within 1 year without causing undue harm to the holder. That's where the type of asset used can be tricky.

A home owned free and clear will be more likely accepted than one with a significant mortgage balance. Retirement accounts with substantial penalties for early withdrawls may not be accepted as quickly as a stock portfolio.

And of course, cash holdings are king.

thank you for the info. I own my home free an clear and should have about 37k more or less in the next year or so if I don't go over my budget available as cash.

I hope this will satisfy the embassy because if not I'm screwed.

Edited by sevie

Share this post


Link to post
Share on other sites
Filed: AOS (apr) Country: Australia
Timeline

thank you for the info. I own my home free an clear and should have about 37k more or less in the next year or so if I don't go over my budget available as cash.

I hope this will satisfy the embassy because if not I'm screwed.

You can also get a co-sponsor.


01/09/09 - Sent I-129F

Visa Approved!

23/07/10 - Arrived in the U.S.

28/08/10 - Got Married

20/10/10 - Sent AOS

04/11/10 - InfoPass Appointment to request an Expedited AP

05/11/10 - Expedited AP Approved! RFE requested for AOS

01/02/11 - RFE sent

01/01/11 - RFE Received

01/12/11 - Biometrics taken

01/28/11 - EAD Approved

02/02/11 - AOS moved to CSC

03/07/11 - Greencard Approved!

Share this post


Link to post
Share on other sites
 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
- Back to Top -


Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×
×
  • Create New...