Financials

[Bparks777 0]

Greetings and hello! This is my first post on VJ, I am more active on "candle for love" as it specifies in Chinese immigration.

I was wondering if you guys could weigh in on a subject.

I have a fiance in China, and was a bit concerned about the financial part of the K1 process

We are filing for a k1 petition later this year (October most likely) to allow time to wrap up a couple things before getting married.

I am a student that will be graduating with a business degree summer 2013, and will be able to make a considerable amount above what I am making now.

All that being said.

(2010) I made about 1,000 less the 125% of the poverty line

(2011) I made roughly 140% the poverty line for a household of 2

(2012) (The most recent tax information I will have for the interview) will be roughly 140% of poverty line.

I also have 3 family members that make nearly $60,000 USD (2 person household) a year that live within 5 minutes of me, that are willing to submit affidavits of support.

Is there any reason to worry about my financials? I am planning on presenting my tax transcripts, letter from my employer, 6 months of pay stubs, records of my life insurance (300,000), along with the 3 affidavits of support to the consulate. Everyone I have spoken to said that because my income shows a positive increase, and I am a bit younger this is common, and shouldn't present a problem That being said I must make 125% of the poverty line to clear petition requirements, and anything extra is discretionary to the consulate to convince him that my fiance will not

Sorry if the above is a bit fragmented, I am at work currently and running around like mad.

Thanks for any help

-Brian

Edited March 22, 2012 by Bparks777

[Bparks777 0]

Oops double post

Edited March 22, 2012 by Bparks777

[Tim/Mav 305]

Brian, I don't think you need a Co-Sponsor.

You will be supplying 2011 Tax Transcripts and currant Income for 2012 for the interview.

Edited March 22, 2012 by Tim/Mav

[JimVaPhuong 4,863]

All that being said.

(2010) I made about 1,000 less the 125% of the poverty line

(2011) I made roughly 140% the poverty line for a household of 2

(2012) (The most recent tax information I will have for the interview) will be roughly 140% of poverty line.

I also have 3 family members that make nearly $60,000 USD (2 person household) a year that live within 5 minutes of me, that are willing to submit affidavits of support.

Is there any reason to worry about my financials? I am planning on presenting my tax transcripts, letter from my employer, 6 months of pay stubs, records of my life insurance (300,000), along with the 3 affidavits of support to the consulate. Everyone I have spoken to said that because my income shows a positive increase, and I am a bit younger this is common, and shouldn't present a problem That being said I must make 125% of the poverty line to clear petition requirements, and anything extra is discretionary to the consulate to convince him that my fiance will not

Unless there are issues with your fiancee then you should be fine at 140%. Issues that might affect this include if she has chronic medical issues that will need ongoing treatment, or if she's got a physical or mental impairment that will make her unemployable. If she's more or less average then meeting the minimum requirements is usually enough.

You don't need to include your life insurance. You don't need it to meet the minimum requirements, and unless it's a whole life policy it probably wouldn't be acceptable as an asset anyway. Only life insurance with a cash-out value can be accepted as an asset, and it's unlikely a young person would have a whole life policy with a cash-out value of $300K. I'm guessing that $300K is the death benefit and not the cash-out value.

Also, why are you sending 3 affidavits of support?

[Darnell 8,478]

you may wish to stick with the answers you receive over at 'Candle for Love'.

[bigdog 376]

Don't shop for the answers you want, see a professional if you need to. Good Luck.