I-864 Help~ the question of student loans

[pingoo 0]

Hellos~ and HELP!!

I'm doing DCF for IR-1 through the consulate in Seoul, Korea. (I'm the petitioner and a US citizen, applying for my husband.) We're submitting our I-130 this week and hoping to get this chugging along quickly. I've been preparing for the next stage, which includes this pesky I-184.

so basically, it's this. I've been making a good salary, over the 125% poverty line for the past 3 years in korea (60K/yr). we also have quite a bit in savings now, and are planning to go over with that, but now am confused.

we've got about 80K+ in the banks saved (in Korea~ must this be transferred to the US before we apply?) which is over the 3x 125% poverty line (for us 19,387).

but...

1. i'm not currently employed now in Korea in the states. (This employment clause for sponsors means employment in the states, correct?

2. my husband is currently employed in korea but makes about 15K/yr. (korean salaries are terribly low btw.)

3. I also have a sizable 70K in federal student loan debt. (do they really consider student loans in the debt line?) if so does that make my assets

I've recently left my job to prepare for this , and looking for jobs from Korea. I realized quickly that being in Korea makes it difficult for employers to even CONSIDER me as an applicant. but likely i'll be making a similar amt in the states if not more.

so~

how would one calculate all of this? and basically, is my only resort to leave early and find a job in the states or to find a co-sponsor?

HELP

[aaron2020 11,651]

Hellos~ and HELP!!

I'm doing DCF for IR-1 through the consulate in Seoul, Korea. (I'm the petitioner and a US citizen, applying for my husband.) We're submitting our I-130 this week and hoping to get this chugging along quickly. I've been preparing for the next stage, which includes this pesky I-184.

so basically, it's this. I've been making a good salary, over the 125% poverty line for the past 3 years in korea (60K/yr). we also have quite a bit in savings now, and are planning to go over with that, but now am confused.

we've got about 80K+ in the banks saved (in Korea~ must this be transferred to the US before we apply?) which is over the 3x 125% poverty line (for us 19,387).

but...

1. i'm not currently employed now in Korea in the states. (This employment clause for sponsors means employment in the states, correct?

2. my husband is currently employed in korea but makes about 15K/yr. (korean salaries are terribly low btw.)

3. I also have a sizable 70K in federal student loan debt. (do they really consider student loans in the debt line?) if so does that make my assets

I've recently left my job to prepare for this , and looking for jobs from Korea. I realized quickly that being in Korea makes it difficult for employers to even CONSIDER me as an applicant. but likely i'll be making a similar amt in the states if not more.

so~

how would one calculate all of this? and basically, is my only resort to leave early and find a job in the states or to find a co-sponsor?

HELP

Your assets alone may be sufficient. It's really up to the CO. You'll need to provide proof that it's your money and not a loan so you can meet the I-864 requirement.

1. Employment does not need to be in the states. You need to be domiciled in the US. The source of income can come from anywhere. The key to counting income for the I-864 is that it has to be income that will continue once you return to your US domicile.

2. Beneficiary's income does not matter.

3. Your debts do not matter. Only income and assets matter.

You need to show that you will reestablish a US domicile before or at the time your husband enters the US. You do not need to go first.

-------

My suggestions. Enjoy Korea. File with your assets. Establish a US bank account and transfer your money to show an intent to reestablish a US domicile. Get leases from prospective landlords also help with the domicile issue. Get a Joint Sponsor as a backup in case your assets are not sufficient.

Best of luck.

[pingoo 0]

Your assets alone may be sufficient. It's really up to the CO. You'll need to provide proof that it's your money and not a loan so you can meet the I-864 requirement.

1. Employment does not need to be in the states. You need to be domiciled in the US. The source of income can come from anywhere. The key to counting income for the I-864 is that it has to be income that will continue once you return to your US domicile.

2. Beneficiary's income does not matter.

3. Your debts do not matter. Only income and assets matter.

You need to show that you will reestablish a US domicile before or at the time your husband enters the US. You do not need to go first.

-------

My suggestions. Enjoy Korea. File with your assets. Establish a US bank account and transfer your money to show an intent to reestablish a US domicile. Get leases from prospective landlords also help with the domicile issue. Get a Joint Sponsor as a backup in case your assets are not sufficient.

Best of luck.

Thanks for the quick answer!

hmm. the "may be" is the hardest part.

some of those assets are currently "in holding" ~ for example, in korea 50K is the deposit for our current apartment (That's small compared to normal deposits in Seoul) and the lease is under my name. So the deposit will be released back to me. 10K will be refunded to me when I leave the country (pension refund) since I'm a US citizen and there's an agreement. I can of course provide documentation for all of this, but it's not immediately liquid.

I already have a bank account and have been sending money overseas. of course, there is a monthly transaction out that pays for my student loans. I haven't moved the funds overseas yet as i'm trying to work that part out with monetary limits on int'l bank transfers. also, wouldn't it look strange for me to suddenly transfer a lot of money to the US?

1. income~ i have tax returns for the past 3 years that show what can be determined as "estimated earning power" so to speak. i'm job hunting so is there a way to submit a change to my I-864 if i suddenly become employed before the interview?

2. ok. on the form it says to include other income in my household, which includes my husband. is this not so?

3. debts don't matter? i saw several equations online that showed debts being subtracted from assets, but maybe that's just me...

thanks~

[aaron2020 11,651]

Oi! Key money. The US embassy should be able to nunderstand that and allow you to count it.

The reason I said maybe is that it's up to the CO is because people will borrow assets to make it seem like they have assets when they don't. It's the CO's job to determine if the assets are acceptable.

As long as the key money will be return when you leave, it shouldn't be a problem.

I am hedging because there is no way for me to determine the nature or quality of your assets.

Sending large amount of your money home is not a problem. Seems normal to me that you would want to move your savings to the US after 6 years in Korea. As long as the money came from a legal source, it's not a problem. (Don't send us your illegal drug money. That's all.)

1. Your "estimates earning power" does not matter. Lots if people have the potential to earn a lot but don't for various reasons. Potential earning power does not matter. Actual earnings is the only thing that counts.

2. Do not list his income if it will end when he leaves Korea. You can only count income that will continue after you leave Korea. This applies to your income also.

3. You cannot count gross value of assets. You need net value (value of assets - liabilities on the assets). Having a $500,000 home as an asset seems wonderful until the USE learns the house is heavily mortgages and under water, this the net equity is zero.

Please provide links to these online equations.

[Ryan H 3,834]

Moved from IR-1/CR-1 Process & Procedures to DCF Discussion. Topic title edited from I-184 (no such form) to I-864.

[pingoo 0]

thanks all for your help. that's very helpful and have allayed my fears.