Another Affidavit of Support question

[Billious 32]

So I'm waiting on NOA2 right now, and trying to get my ducks in a row for the next step. As my fiancee and I work together on a cruise ship (and I will be reunited with her in 41 days, not that I'm counting ) - I need to have all my paperwork set now, as I'll be at sea for 5 months when the NOA2 shows up.

I'm trying to assess whether I need a co-sponsor for the I-134/I-864 forms, as my financial situation is a little unique. I make plenty of money, but...

+/- $12k a year comes from contract employment (cruise ship). I get hired back on every year, but it's not "permanent".

I have +/- $4k a year of employment income from another source (standard job).

A good deal of my income comes from two businesses I run - yet a 3rd business I ran went WAY south last year, causing a huge loss on my taxes last year. Further, some of that loss will carry over into 2012, which will essentially show two years of "negative" income... even though the loss was just an investment... I made money.

In addition, I have around $25-$45k in equity in my home (depending on whether you go by assessment or appraisal). I own outright (no loans) 3 vehicles with a combined value of about $30k.

I've completely struck out with family trying to get a co-sponsor. Skepticism and all... for what it's worth, the years preceding the business loss last year showed healthy income, and I can provide Profit and Loss summaries for this year and last that show my current businesses generating decent profit...

Am I being completely paranoid, or might I have a problem? Fiancee is coming from Indonesia..

[GlobeHopperMama 95]

I'm not positive, but I think for the K1 visa, affidavit of support requirements don't really intensify until you're filing for adjustment of status after the marriage. Prior to that, they're kind of general, I thought. Either way, I believe that your assets should more than cover any deficiency that may be perceived in terms of the actual income.

[Billious 32]

I'm not positive, but I think for the K1 visa, affidavit of support requirements don't really intensify until you're filing for adjustment of status after the marriage. Prior to that, they're kind of general, I thought. Either way, I believe that your assets should more than cover any deficiency that may be perceived in terms of the actual income.

Thank you for your response! Perhaps this isn't the right forum, but does anyone want to venture a guess whether I'm facing any landmines when it comes to AOS?

[Penguin_ie 5,993]

I think alot will depend on your specific embassy. Many would not count the contract employment unless you can get a letter saying you will be hired back, and if you show a loss in your businesses that won;t count either. Equity in a family/ primary home also rarely counts, so that leaves 2 of your three cars (as it is assumed you need one to live/ drive) plus the $4000 from the regular job, which would not be enough. I think to be on the safe side, I'd get a co-sponsor.

[Billious 32]

I think alot will depend on your specific embassy. Many would not count the contract employment unless you can get a letter saying you will be hired back, and if you show a loss in your businesses that won;t count either. Equity in a family/ primary home also rarely counts, so that leaves 2 of your three cars (as it is assumed you need one to live/ drive) plus the $4000 from the regular job, which would not be enough. I think to be on the safe side, I'd get a co-sponsor.

I understand regarding the contract employment - but can probably get a letter from them showing that I'm rehired every season. Do you have any source regarding equity in the person home not being counted - I haven't seen anything regarding that anywhere?

As for the businesses - there were 3 - I lost one of them in 2011, which caused a one-time loss there. My other two businesses have been profitable all the way though. On my taxes, they all end up aggregated on Line 22 - which is what people say "counts". If I can demonstrate all years beforehand I had plenty of income, and that the loss in last year all came from one business that I no longer have a stake in - along with Profit and Loss reports from the other businesses showing current profit, would there not be any consideration of those circumstances?

I'd love to have a co-sponsor, but I don't have close family...

[Billious 32]

Equity in a family/ primary home also rarely counts, so that leaves 2 of your three cars (as it is assumed you need one to live/ drive) plus the $4000 from the regular job, which would not be enough. I think to be on the safe side, I'd get a co-sponsor.

So I did a little research, and I thought I'd document it here for anyone else who's looking into this...

Instructions for i-864

If you check page 8, bottom right:

"You may include the net value of your home as an asset. The net value of the home is the appraised value of the home minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home." ... "You may not include the net value of an automobile unless you show that you have more than one automobile, and at least one automobile is not included as an asset."

This is good news for me - the appraised value of my home minus mortgages is about $50,000 alone... and if all I have to do is not include one of my automobiles as a disposable asset, that gives me another $25,000.

Further good news: reading through this, my fiancee's income CAN be counted towards this... she works on the cruise ships with me as well, and although we are on a contract basis, my read of these instructions shows that all we need to do is provide evidence that it is a continuing income source - and by the time we are ready to adjust status, we will have our contract letters for our next season.

Feeling some serious relief here.