a I-864 "what if...." question

[vze4b39s 0]

I didn't use assets for my income requirements, but just wondering "what if" I did.....

I currently make US$60,000/annually and according to the I-864 directions,

"the total value of your assets must equal at least 5 times the difference between your total household income and the current poverty guidelines for your household size."

For just me and my wife, the 2006 poverty guideline is $16,500..........SO....that would mean

($60,000-$16,500) x 5 = $217,500.......?????....this would take me forever to save because I don't have a house or any other assets.......

In the directions....the next line says:

"However, if you are a US citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least 3 times the difference."

But still....(60,000 - 16,500)x 3 = $130,500...which is way more than I can save for many many many many years.................

Am I doing the math right????........or am I just crazy.... : )

[TracyLuis 0]

Here's some information I found on a thread from Aussiewench, so you know it's good. Hope this helps!

6) If assets are needed to meet the minimum income requirement:

(a) Evidence of assets with a cash value that equals at least five

times the difference between your total household income and

the poverty guideline for your household size (see chart below):

Example for a Household of 4:

125% Poverty Guideline........$25,000 (2006)

Sponsor’s Income..............$18,000

Difference.....................$7,000

Multiply by 5..................X 5

Minimum Required Cash

Value of Assets...............$35,000

[simple_male 1]

If your income is enough and above the poverty line, you don't need to use assets for your I-864.

[aussiewench 9]

6) If assets are needed to meet the minimum income requirement:

(a) Evidence of assets with a cash value that equals at least five

times the difference between your total household income and

the poverty guideline for your household size

With the new rules for the I-864, only 3 times is now required.

New Rules for Affidavit of Support (I-864)

Edited September 5, 2006 by aussiewench

[Yodrak 7]

vze4b39s,

No.

Yodrak

................

Am I doing the math right????........

[fdjaymz 0]

correct, its not income minus assets, its the difference between poverty level times five. example. if you make less than 16,500, let's say you make 13,000 then the difference is 3,500, so you ahve to show 3,500x5 in assets (17,500) if you make enough in income, then you dont need to show assets. it's as simple as that

[aussiewench 9]

oops wrong thread.....sry

Edited September 6, 2006 by aussiewench