Credit Rating when applying for K1

[LSnBigBear 61]

I lost my job as Director/ Plant Manager about 20 months ago. Not being able to find anything here in my field with the many other execs out of work. So I took my savings and moved back to Philippines (3rd time living there) to start two businesses. One made it, one did not. I needed to push bills out and now my credit rating is bad. Will this adversly affect my K1 when I file? And also, how close do they look at savings or investments. I lost my shirt in the crash so little to known left in that account and savings has little in it now.

Two good news. I would not have met my fiance had the above not happened... Second good news is I got a job starting mid Feb which will allow me to build my savings up some prior to filing K1.

Thanks

[baron555 934]

I lost my job as Director/ Plant Manager about 20 months ago. Not being able to find anything here in my field with the many other execs out of work. So I took my savings and moved back to Philippines (3rd time living there) to start two businesses. One made it, one did not. I needed to push bills out and now my credit rating is bad. Will this adversly affect my K1 when I file? And also, how close do they look at savings or investments. I lost my shirt in the crash so little to known left in that account and savings has little in it now.

Two good news. I would not have met my fiance had the above not happened... Second good news is I got a job starting mid Feb which will allow me to build my savings up some prior to filing K1.

Thanks

Current income is what they base finanical support on; not credit rating.

[LSnBigBear 61]

Current income is what they base finanical support on; not credit rating.

Thank you very much for replying to my post... Good luck in your Journey....

[bigdog 377]

No credit just current income, lots of folks in that boat right now.

[Ron and Rhea 42]

Hey friend, good luck...if you don't mind me asking, what were the two business' you had in the Philippines?

I lost my job as Director/ Plant Manager about 20 months ago. Not being able to find anything here in my field with the many other execs out of work. So I took my savings and moved back to Philippines (3rd time living there) to start two businesses. One made it, one did not. I needed to push bills out and now my credit rating is bad. Will this adversly affect my K1 when I file? And also, how close do they look at savings or investments. I lost my shirt in the crash so little to known left in that account and savings has little in it now.

Two good news. I would not have met my fiance had the above not happened... Second good news is I got a job starting mid Feb which will allow me to build my savings up some prior to filing K1.

Thanks

[LSnBigBear 61]

Hey friend, good luck...if you don't mind me asking, what were the two business' you had in the Philippines?

Training and Consulting on Lean Six Sigma was my money maker for a time period. And then I started up a Franchised Restaraunt. Tight margins and then my consulting dried up so living there was going to be a stretch. Plus a family member here became ill so I came back in September. I was first introduced to Philippines in 1998. Ran an American company there on contract for 3 years one time and filled in 6 months the other.

The best money made in the Philippines for an owner is the money they bring into spend there. Very difficult to make it. Most fail. I owned a small Sports Bar when I was employed with my American company. It failed as well. Part of me trusting a fellow American friend...... We can chat off line if you want to know anything else. Just send me a message...

Thanks

[Ron and Rhea 42]

I will PM you in a bit...

Training and Consulting on Lean Six Sigma was my money maker for a time period. And then I started up a Franchised Restaraunt. Tight margins and then my consulting dried up so living there was going to be a stretch. Plus a family member here became ill so I came back in September. I was first introduced to Philippines in 1998. Ran an American company there on contract for 3 years one time and filled in 6 months the other.

The best money made in the Philippines for an owner is the money they bring into spend there. Very difficult to make it. Most fail. I owned a small Sports Bar when I was employed with my American company. It failed as well. Part of me trusting a fellow American friend...... We can chat off line if you want to know anything else. Just send me a message...

Thanks

[Gary and Alla 3,694]

I lost my job as Director/ Plant Manager about 20 months ago. Not being able to find anything here in my field with the many other execs out of work. So I took my savings and moved back to Philippines (3rd time living there) to start two businesses. One made it, one did not. I needed to push bills out and now my credit rating is bad. Will this adversly affect my K1 when I file? And also, how close do they look at savings or investments. I lost my shirt in the crash so little to known left in that account and savings has little in it now.

Two good news. I would not have met my fiance had the above not happened... Second good news is I got a job starting mid Feb which will allow me to build my savings up some prior to filing K1.

Thanks

Credit rating has no affect