Need help about financial support

[coffeelove 0]

Hi VJ member,

I will have the interview next two weeks ! and now worrying about my financial support ! My fiancee (U.S petitioner) is a head of household ( 4 person included me ).

125% of poverty guide line is 29,438$ and his hourly paid is 13.70$ , He has 401K as an asset 10.000$ , Bank statement + other value which stated in I-134 around 7000$ and his father's life insurance ( 100,000$ ) which he is beneficiary. I do understand that the U.S Embassy tend to see current income but in our case the income is not enough 3000$ . Do you know if all above can help?

Can anyone who had experiences to calculate for me ? Thank you very much for your comments!

[kitthekat 1,317]

You need $3000 (or however much is lacking) x 3 = $9000 in assets. The website below defines eligible assets as those that can be easily liquidated to cash without considerable hardship or financial loss to the owner/family members within one year can be used. I should think 401Ks could be eligible if your fiance is able to cash his out?

http://www.**.com/affidavit-of-support/using-assets-meet-income-requirements.html

Not sure the same could be said for life insurance though...might involve some considerable hardship to the insured person if this were to be liquidated.

[coffeelove 0]

You need $3000 (or however much is lacking) x 3 = $9000 in assets. The website below defines eligible assets as those that can be easily liquidated to cash without considerable hardship or financial loss to the owner/family members within one year can be used. I should think 401Ks could be eligible if your fiance is able to cash his out?

http://www.**.com/affidavit-of-support/using-assets-meet-income-requirements.html

Not sure the same could be said for life insurance though...might involve some considerable hardship to the insured person if this were to be liquidated.

Thanks for your comment ! Yes, My fiancee can withdraw the money from 401K ! but I did search and found some sites mentioned the asset amount must equal 5 times ? Do you have any idea about this ?

Thanks.

[kitthekat 1,317]

3 times is for spouse or child (minor), 5 times for all others. I've read differing opinions on whether 3 or 5 times the shortfall is required for I-134 - best to err on the side of caution in my opinion and go with 5.

[veronicaanalee 2]

_{I know you are stress, but all depends of who is the interviewer.}

_{Sometimes they don t check the documents or they are very busy.}

_{For example inmy case, I had the same problema in my K1 interview...My husband was a student over 3 years , so he didn t made any money, he own a house and he wrote a nice letter explain that situation , I went to the interview with aout a co esponsor...they aproved me ..}

_{no problema relax}

_{any question}

_{vikingoparalegal@hotmail.com}

_{Good Luck}

_Veronica

[baron555 934]

Hi VJ member,

I will have the interview next two weeks ! and now worrying about my financial support ! My fiancee (U.S petitioner) is a head of household ( 4 person included me ).

125% of poverty guide line is 29,438$ and his hourly paid is 13.70$ , He has 401K as an asset 10.000$ , Bank statement + other value which stated in I-134 around 7000$ and his father's life insurance ( 100,000$ ) which he is beneficiary. I do understand that the U.S Embassy tend to see current income but in our case the income is not enough 3000$ . Do you know if all above can help?

Can anyone who had experiences to calculate for me ? Thank you very much for your comments!

You need a cosponsor. Life insurance doesn't mean anything because unless you have the cash in hand.

[coffeelove 0]

You need a cosponsor. Life insurance doesn't mean anything because unless you have the cash in hand.

So, 401K in amound of 10.000$ and amount 7.000$ stated in I134 form can't help ?

[baron555 934]

So, 401K in amound of 10.000$ and amount 7.000$ stated in I134 form can't help ?

Yes the use of cash savings is allowed.....but.....it is not income (meaning steady flow of money coming in).

The 401K, by itself is not liquid money, meaning you first have to withdraw the funds, pay whatever extra IRS penalties for early withdrawal, and then it can be used...

Also I beleive only 30% of cash savings can be used as credit.

On top of this, every Embassy is different, if you want a definite answer, email them.

The poverty guidelines are quite low........soapbox now.......and if a couple can't even or barely meets them, ask yourself how will their relatinoship fair since the new immigrant won't be able to work until at least 3-5 months arter marriage and then what type and pay of a job will be they able to find.

Good luck; I personally wouldn't want to cut it so close and would suggest to anyone to delay any visa until you had a decent reserve or job.

[aaron2020 11,651]

The life insurance policy cannot be used. There's no money unless the father dies. Right now, there is zero cash so it's not countable.

The 401k cannot be counted. It's a retirement plan which if he withdraw from creates a hardship because there are taxes and penalties which would wipe out half the value. If he wants to count it, then he needs to withdraw it before he files the AOS. That'll leave $5,000.

[96accord 3]

First you need to know that every Embassy is different when it comes to accepting a Co-Sponsor for the purpose of K1 visa (fiancé) and CR1 (spousal). US Embassy in Laos, Vientiane, does not accept a Co-Sponsor for K1 but will accept Co-sponsor for CR1. (I know because I’ve asked personally by e-mail) So you can forget about a Co-Sponsor for the purpose of the I-134 Affidavit of Support.

Don’t worry yet. You mentioned that for year 2013, 125% of poverty level for a household of 4 people is $29,438. That would be you, your fiancé, his father, and his brother per your previous posting. You mentioned that your husband makes $13.70 per hour x 40 hours per week x 52 weeks per year = $28,496. So if you do the math $29,438 - $28,496 = $942 the income your fiancé is short. You can show 5 times the amount in cash savings or asset for the amount you are short by income. So $942 x 5 = $4710. Your Fiance has $7K in savings. That should be sufficient to cover the income GAP.

You mentioned that his 2012 tax return is $39K, the CO will want to see that tax return, no need for 2011 and 2010 tax return. However you will need a letter of employment showing your fiancé has full employment with salary and is in good standing and you will need paycheck stubs.

Also, because your fiance’s father and brother are part of the household their income if any can also be counted in the affidavit of support as household income. One Petitioner that I know of was short on income and was able to use her mother and father’s social security income as household income. They had to prove that by home address. So your fiancé can use his father’s income and his brother’s income as well if they have income and there is a GAP in income.

Based on what you've shared, it sounds like your fiance has plenty of income to show so I wouldn't worry about it.

Hope that helps!