Immigration rules on finances

[Sha2011 0]

Ok. I got a pay increase at work so I now make $19,760 per year. I have $16,000 in the bank. My parents loaned me $4,000 ( I need to pay them back when I graduate) . So in totally I have $20,000 in the bank and income is 19,760 per year so added up its $39,760.

I am only $1703 short on the poverty guideline. To meet that level I would need to be making $32.75 more per week.

I am a senior at university. There's no way possible I can take another job. I wanted to know if my bank account will cover my shortfall now enough for the Embassy to look over and approve my asawa.

My shortfall is only $32.75 per week. Thats not very much at all. I will be done with school in the summer 2008. By the time my wife's K3 runs out I'll be done with school.

I have asked many questions as these, but I like three, four, and more opinions

[Jasman0717 8]

Does she have children that she is bringing? The 125% amount should be $17,112 for two people.

[*JG* 2]

How many people are you applying for?

[Sha2011 0]

How many people are you applying for?

One person

Does she have children that she is bringing? The 125% amount should be $17,112 for two people.

She's coming alone. I have one child.

[anitacastillo 0]

Ok. I got a pay increase at work so I now make $19,760 per year. I have $16,000 in the bank. My parents loaned me $4,000 ( I need to pay them back when I graduate) . So in totally I have $20,000 in the bank and income is 19,760 per year so added up its $39,760.

fyi - Assets (like cash) do not count equally towards the poverty level -- it is 5 to 1. For example, your $20K in the bank is worth $4K of payroll income.

Congrats on your increase!

[pushbrk 12,233]

Ok. I got a pay increase at work so I now make $19,760 per year. I have $16,000 in the bank. My parents loaned me $4,000 ( I need to pay them back when I graduate) . So in totally I have $20,000 in the bank and income is 19,760 per year so added up its $39,760.

fyi - Assets (like cash) do not count equally towards the poverty level -- it is 5 to 1. For example, your $20K in the bank is worth $4K of payroll income.

Congrats on your increase!

Then you need to meet the 125% poverty level for three. For a spouse or fiance the conversion reate is 3 to 1, not 5 to 1.

So, your income of $19,760 plus $20k/3 equals $26,427. That's exceeds the 125% poverty level in every state except Alaska.

[Sha2011 0]

Ok. I got a pay increase at work so I now make $19,760 per year. I have $16,000 in the bank. My parents loaned me $4,000 ( I need to pay them back when I graduate) . So in totally I have $20,000 in the bank and income is 19,760 per year so added up its $39,760.

fyi - Assets (like cash) do not count equally towards the poverty level -- it is 5 to 1. For example, your $20K in the bank is worth $4K of payroll income.

Congrats on your increase!

Then you need to meet the 125% poverty level for three. For a spouse or fiance the conversion reate is 3 to 1, not 5 to 1.

So, your income of $19,760 plus $20k/3 equals $26,427. That's exceeds the 125% poverty level in every state except Alaska.

Pushbrk, you have been kind to me. You have helped me a lot. I am sorry for posting like a cracked cd or dvd, possibly a broken record.

Thank you again

[payxibka 10,044]

Then you need to meet the 125% poverty level for three. For a spouse or fiance the conversion reate is 3 to 1, not 5 to 1.

So, your income of $19,760 plus $20k/3 equals $26,427. That's exceeds the 125% poverty level in every state except Alaska.

The ratios for asset coverage as mentioned here on VJ are all over the place... Where exactly is this documented? It would be nice to see this so all the confusion can be mitigated....

[C and J 1]

It's taken a bit of digging, but I believe this is it (Item 5 B). It is dated 2006 but hopefully is still accurate :-

http://www.uscis.gov/propub/ProPubVAP.jsp?...ad312b1ab639b17

(5) Part 7 of Form I-864: Use of Assets to Supplement Sponsor’s Income . If a sponsor cannot meet the Poverty Guideline requirement based upon total household income listed on line 24c, he or she may show evidence of assets owned by the sponsor, and/or members of the sponsor’s household, that are available to support the sponsored immigrant(s) and can be readily converted into cash within 1 year.

For assets of the intending immigrant and/or household member to be considered, the household member must complete and sign Form I-864A. USCIS should check to make sure that the Form I-864A is completed and signed by the sponsor and the household member.

(A) Evidence of assets . Evidence of the sponsor’s assets should be attached to the Form I-864. Evidence of the principal sponsored immigrant’s and/or household member assets should be attached to Form I-864A. In each instance, the evidence should establish the location, ownership, and value of each listed asset, including any liens or liabilities for each listed asset. Evidence of assets includes, but is not limited to:

· Bank statements covering the last 12 months, or a statement from an officer of the bank or other financial institution in which the sponsor has deposits, including deposit/withdrawal history for the last 12 months, and current balance;

· Evidence of ownership and value of stocks, bonds, and certificates of deposit, and dates acquired;

· Evidence of ownership and value of other personal property and dates acquired; and

· Evidence of ownership and value of any real estate and dates acquired.

(B) Amount of assets required. In order to qualify using assets, the total net value of all assets must generally equal at least five times the difference between the sponsor’s total household income and the minimum income requirement for the current year.

Example for a household size of 4 :

125 percent of 2006 Poverty Guidelines $25,000

Sponsor's income $19,500

Difference $5,500

Multiply by 5 x 5

Minimum Required Net Value of Assets $27,500

There are two exceptions, however:

· If the adjustment of status applicant intends to immigrate as a spouse of a U.S. citizen or as the child of a U.S. citizen who will not become a citizen under section 320 of the Child Citizenship Act of 2000 because the child has already reached his or her 18th birthday, the “significant assets” requirement will be satisfied if the assets equal three times, rather than five times, the difference between the applicable income threshold and the actual household income.

[pushbrk 12,233]

Then you need to meet the 125% poverty level for three. For a spouse or fiance the conversion reate is 3 to 1, not 5 to 1.

So, your income of $19,760 plus $20k/3 equals $26,427. That's exceeds the 125% poverty level in every state except Alaska.

The ratios for asset coverage as mentioned here on VJ are all over the place... Where exactly is this documented? It would be nice to see this so all the confusion can be mitigated....

http://travel.state.gov/visa/immigrants/in...83.html#_Assets

Here is the relevant text.

What Cash Value of Assets is Needed?

To be counted, the cash value of assets must equal five times the difference between the sponsor's income and 125 percent of the poverty line for the household size.

For example, a petitioner/sponsor with a household size of four and an income of $18,000 would need assets equal to five times the difference between his/her income and the income required for a family of four at the current federal poverty guidelines level. He/she would also need to show evidence of mortgages, liens, and liabilities against the assets.

The cash value of assets required is different for these sponsors:

Sponsors of immediate relative spouses and children of U.S. citizens must only show assets in the amount of three times the difference between the poverty guideline and actual household income.

This does beg the question of whether 3 to 1 applies to a Fiance(e). I'm not certain. In any event, the OP is sponsoring a spouse.

Edited October 3, 2007 by pushbrk

[payxibka 10,044]

This I am sure is where the 5:1 asset ratio for an I-864 comes from as adjudicated by the USCIS.... and that the Department of State uses a 3:1 for the I-864.....

Now I am curious where if any documented evidence exists on the I-134... particularly as it is a well known fact the the consulates have developed "local procedures" that are all over the place............

Edited October 3, 2007 by fwaguy

[pushbrk 12,233]

This I am sure is where the 5:1 asset ratio for an I-864 comes from as adjudicated by the USCIS....

Now I am curious where if any documented evidence exists on the I-134... particularly as it is a well known fact the the consulates have developed "local procedures" that are all over the place............

USCIS has a FAQ page for "How Do I File an Affidavit of Support for a Relative?" that mentions only the 5 to 1 but it the page refers to relatives like....

First Preference: Unmarried, adult sons and daughters of U.S. citizens. Adult means 21 years of age or older.

Second Preference: Spouses of lawful permanent residents and the unmarried sons and daughters (regardless of age) of lawful permanent residents and their unmarried children.

Third Preference: Married sons and daughters of U.S. citizens, their spouses and their unmarried minor children.

Fourth Preference: Brothers and sisters of adult U.S. citizens, their spouses and their unmarried minor children.

...and does not mention spouses of US Citizens, only spouses of LPR's.

Edited October 3, 2007 by pushbrk

[rebeccajo 14]

9 FAM 40.41 Notes

N4.6-3

Use of Form I-134, Affidavit of Support Under INA 213A

[pushbrk 12,233]

9 FAM 40.41 Notes

N4.6-3

Use of Form I-134, Affidavit of Support Under INA 213A

I guess you're addressing why Manila seldom accepts a joint sponsor. If so, here's the relevant text Manila seems to be taking very seriously.

c. The simple submission of Form I-134, Affidavit of Support, however, is

not sufficient to establish that the beneficiary is not likely to become a

public charge. Although the income requirements of Form I-864, Affidavit

of Support Under Section 213A of the Act, do not apply in such cases

(i.e., the 125 percent minimum income, the need for three years income

tax returns), you must make a thorough evaluation of other factors, such

as:

(1) The sponsor's motives in submitting the affidavit;

(2) The sponsor's relationship to the applicant, (e.g., relative by blood

or marriage, former employer or employee, schoolmates, or

business associates);

(3) The length of time the sponsor and applicant have known each

other;

(4) The sponsor's financial resources; and

(5) Other responsibilities of the sponsor.

NOTE: When there are compelling or forceful ties between the applicant

and the sponsor, such as a close family relationship or friendship of long

standing, you may favorably consider the affidavit. On the other hand, an

affidavit submitted by a casual friend or distant relative who has little or no

personal knowledge of the applicant has more limited value. If the sponsor

is not a U.S. citizen or lawful permanent resident (LPR), the likelihood of the

sponsor's support of an immigrant visa applicant until the applicant can

U.S. Department of State Foreign Affairs Manual Volume 9 - Visas

9 FAM 40.41 Notes Page 15 of 35

become self-supporting is a particularly important consideration.

[rebeccajo 14]

Actually, I wasn't thinking about Manila at all, but the section you cite may be where they hang their hat.

I believe this is the relevant 'documentation' fwaguy was looking for.