Saving Money for K-1 to meet poverty level?

[PolarBearCBB 1]

So, if I am about $4,500.00 below the poverty level, I can use assets to get over the poverty level and be at 125%?

An approximate total value of cars, jewelry, appliances (stereo, television, refrigerator), cameras, and other equipment will do right?

Assets are worth 3x less their total value for petitioner?

I'm the petitioner for my Fiancee, and the only sponsor. I believe I have enough small stuff to put me at 125%

Also when i show proof that I own the assets the stuff simply just has to be professionally appraised with documents right?

Many thanks for answers!

[Penguin_ie 5,993]

Yes and no.

Yes, you can use assets. But there are many assets you cannot use, because it would be considered an undue hardship for you to loose them, such as your primary home, only car etc. Things like your fridge and other appliances would fall under that too. Now if you have a second car, or a fully furnished rental home/ investment property then yes, you could list those.

Another thing to consider is that for the K1, the consulate is not required to take assets into account, and as the K1 is technically a non-immigrant visa, some embassies will want you to have 5 times the shortfall, not just 3 (though most do- which embassy will you be going through?). Additionally, they expect assets to be big things; an expensive car, a 401K, savings account or holiday home. Not a $100 worth used gaming system; having to use small stuff like that can make your case look worse rather than better. If there is another way you can get the extra money (weekend job?), it would be better.

[baron555 934]

Yes and no.

Yes, you can use assets. But there are many assets you cannot use, because it would be considered an undue hardship for you to loose them, such as your primary home, only car etc. Things like your fridge and other appliances would fall under that too. Now if you have a second car, or a fully furnished rental home/ investment property then yes, you could list those.

Another thing to consider is that for the K1, the consulate is not required to take assets into account, and as the K1 is technically a non-immigrant visa, some embassies will want you to have 5 times the shortfall, not just 3 (though most do- which embassy will you be going through?). Additionally, they expect assets to be big things; an expensive car, a 401K, savings account or holiday home. Not a $100 worth used gaming system; having to use small stuff like that can make your case look worse rather than better. If there is another way you can get the extra money (weekend job?), it would be better.

You would need certified appraisals

[PolarBearCBB 1]

Yes and no.

Yes, you can use assets. But there are many assets you cannot use, because it would be considered an undue hardship for you to loose them, such as your primary home, only car etc. Things like your fridge and other appliances would fall under that too. Now if you have a second car, or a fully furnished rental home/ investment property then yes, you could list those.

Another thing to consider is that for the K1, the consulate is not required to take assets into account, and as the K1 is technically a non-immigrant visa, some embassies will want you to have 5 times the shortfall, not just 3 (though most do- which embassy will you be going through?). Additionally, they expect assets to be big things; an expensive car, a 401K, savings account or holiday home. Not a $100 worth used gaming system; having to use small stuff like that can make your case look worse rather than better. If there is another way you can get the extra money (weekend job?), it would be better.

The U.S. Embassy in Bangkok, Thailand. Also don't i need 125% of the poverty level or just 100%? I'm pretty sure its 125% best to do 125% anyways...

Also, would you happen know if the Embassy in Thailand does 3x the shortfall or 5x the shortfall?

You would need certified appraisals

What about proving ownership of items? Like TV, Jewerly, Stereo, etc?

[baron555 934]

The U.S. Embassy in Bangkok, Thailand. Also don't i need 125% of the poverty level or just 100%? I'm pretty sure its 125% best to do 125% anyways...

Also, would you happen know if the Embassy in Thailand does 3x the shortfall or 5x the shortfall?

What about proving ownership of items? Like TV, Jewerly, Stereo, etc?

Certified appraisals for all assets. If you are this close, then get a cosponsor.

[PolarBearCBB 1]

Also so I'm confused now.

I have an stable income of $15,360.00 a year.

The poverty level for 2 at 125% which is $19,913.00.

Now, the part where I am confused is about assets, do I need to come up with enough assets to make up this difference? $4,553.00 worth of assets?

[PolarBearCBB 1]

Certified appraisals for all assets. If you are this close, then get a cosponsor.

I only make $15,360.00 a year and I haven't been able to get a sponsor. I've asked everyone that was a relative I knew that might be 125% they all said no, and 2 of them don't meet the 125% anyways. So what am I supposed to do? Tell them I own a car worth $22,000.00? Thats not even realistic. I'm short of the 125% by $4553.00

Edited January 15, 2016 by PolarBearCBB

[Unshakable Faith 493]

https://www.uscis.gov/green-card/green-card-processes-and-procedures/affidavit-support

If you are using assets to make the difference, you need to have 5 times the amount. So you would need $22,765 in liquid assets that can readily be turned into cash.

If you cannot do that, you will need a joint sponsor who must meet the poverty level independently from you (you cannot combine both incomes to equal 125% of the poverty level). They would include themselves, any dependents, and your fiance in their household size to determine what poverty level they need to exceed.

Edited January 15, 2016 by FN&KO

[PolarBearCBB 1]

I earn $15,360.00 a year.

Household size (2) me and fiancee.

$19,913.00 is what I need to make.

So I have $4,553.00 shortfall.

How much would I have to save?

I don't have a sponsor, and I don't meet the 125% poverty level. So, I am seeing if I can save money possibly to meet the shortfall...

Edited January 15, 2016 by PolarBearCBB

[Chris and ZhiJia 146]

I earn $15,360.00 a year.

Household size (2) me and fiancee.

$19,913.00 is what I need to make.

So I have $4,553.00 shortfall.

How much would I have to save?

I don't have a sponsor, and I don't meet the 125% poverty level. So, I am seeing if I can save money possibly to meet the shortfall...

I am unsure where to get the exact information, but On another immigration site they have the requirements listed to use your savings must be 5x the difference between what you make, and what is required to meet 125% of the poverty guideline.

So according to them, you would need to save about $23,000

[Chris and ZhiJia 146]

Also, you already asked this question in another post, and Penguin answered it for you.

http://www.visajourney.com/forums/topic/581993-i-134-affidavit-of-support-questions-about-assets/#entry7967934

Penguin also confirmed you must have 5x the shortfall, so you will need $23,000 in savings to make up for your lack of income.

[Chris and ZhiJia 146]

This is the third thread you have made on this topic.

http://www.visajourney.com/forums/topic/582121-petitioner-question-about-assets

You keep getting the same answer You need 5x the shortfall. Just because you do not like the answer you are provided, does not mean fishing with new posts will generate a new answer, and even if someone else chimes in with a lower amount, you have already been told by several long term, and knowledgeable members that the amount you need is 5x the shortfall (22,765 in your case).

Please stop creating new topics when you were answered in your original thread.

[KayDeeCee 4,893]

There are no set guidelines for assets with the I-134. So, if the consulate uses the I-864 guidelines, then you may only need 3 times for a spouse(fiance(e) in this case). You would need a bare minimum of $13,659. Please be aware that the CO does not have to accept assets, whether you have 3 or 5 times. The CO will look at your overall situation and make the sole decision on whether or not they believe the foreign fiance(e) will become a public charge or not. The most important thing is having a stable ongoing current income that meets the requirement.

If the CO accepts 100% instead of 125% with the I-134 for the K-1 visa, you will still have the problem of needing the 125% later for the I-864 and AOS. You will need a job(or second one) that allows you to meet the requirement, or find someone to be your joint sponsor.

Edited January 15, 2016 by KayDeeCee

[Transborderwife 4,666]

Get a second job or wait until you can find a proper sponsor.

[baron555 934]

Get a second job or wait until you can find a proper sponsor.

Yep. Have to wait for more income, etc. Any USC can be a sponsor.