Here's my situation

[shalz 0]

One of my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

Edited October 20, 2006 by shalz

[diadromous mermaid 36]

One of my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

liquid?

[Yodrak 7]

Shalz,

Assets that can be converted into cash available to be spent here in the USA can be used to supplement inadequate income. The qualifying assets (assets that meet the liquidity requirement) need to be 3 times the amount of the income shortage.

Be prepared to explain how one has accumulated $600,000 worth of assets with a below poverty level income. That's quite a feat outside of inheritance or winning the lottery.

Yodrak

One my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

[diadromous mermaid 36]

Shalz,

Assets that can be converted into cash available to be spent here in the USA can be used to supplement inadequate income. The qualifying assets (assets that meet the liquidity requirement) need to be 3 times the amount of the income shortage.

Be prepared to explain how one has accumulated $600,000 worth of assets with a below poverty level income. That's quite a feat outside of inheritance or winning the lottery.

Yodrak

One my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

The income, if I read her post carefully enough, was below poverty guidelines recently, not necessarily historically They could have acquired the assets some time ago and that this figure reflects appreciation as well.

[shalz 0]

Yodrak,

Well, Thats exactly my answer was to her.

But, NVC hasn't asked for any explanations about the assests ... all they have asked for is : co-sponsors relationship to her... their license for business (as they didn't include it). So, does it mean everything else is okay????

Shalz,

Assets that can be converted into cash available to be spent here in the USA can be used to supplement inadequate income. The qualifying assets (assets that meet the liquidity requirement) need to be 3 times the amount of the income shortage.

Be prepared to explain how one has accumulated $600,000 worth of assets with a below poverty level income. That's quite a feat outside of inheritance or winning the lottery.

Yodrak

One my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

[Yodrak 7]

shalz,

The NVC does not evaluate the information, they merely check to make sure that required information has been submitted. The information will be evaluated by the consular officer who processes the visa application after the materials collected by the NVC have been sent to the consulate.

So no, it does not mean that everything is OK.

Yodrak

Yodrak,

Well, Thats exactly my answer was to her.

But, NVC hasn't asked for any explanations about the assests ... all they have asked for is : co-sponsors relationship to her... their license for business (as they didn't include it). So, does it mean everything else is okay????

Shalz,

Assets that can be converted into cash available to be spent here in the USA can be used to supplement inadequate income. The qualifying assets (assets that meet the liquidity requirement) need to be 3 times the amount of the income shortage.

Be prepared to explain how one has accumulated $600,000 worth of assets with a below poverty level income. That's quite a feat outside of inheritance or winning the lottery.

Yodrak

One my cousin who is a permanent resident of United States had filed a petition for her husband in 2001 and is now at the NVC .. everything is done except the I-864. Since she lived in India and have recently moved back here, she has no income and using her dad and her brother as joint-sponsors. They are both self-employed and the income they had shown last year in their tax returns was way less than the poverty guidelines. but, they both have an assests of 600,000 together. So, what my question here is that: Eventhough they don't have enough of income but have an assests of 600,000, Would this be considerable.. Or she has to find another sponsor.

Any suggestions would be appreciated.

Thanks

Shalz

diadromous mermaid,

I don't have the ability to devine the correct facts of a situation by reading between the lines of insufficient information. I can only point out the questions that might arise when insufficient information is provided.

(If I did have to make an assumption, it would be that someone is being extremely liberal in claiming their business expenses for tax purposes. It's quite a common practice, and not necessarily illegal.)

Yodrak

The income, if I read her post carefully enough, was below poverty guidelines recently, not necessarily historically They could have acquired the assets some time ago and that this figure reflects appreciation as well.