Filing an I-864 with zero income (but more than enough assets)?

[pushbrk 13,259]

59 minutes ago, Dongbei said:

I was reading through this guide: http://www.visajourney.com/wiki/index.php/LingChe_NVC_ShortCut and got way thrown off.

 

It says:

Is that still true? So I would actually need $185,175 for a 2 person household??

 

125% of poverty rate for 2 person household = $20,575 x 3 = $61,725 -- but only 1/3rd of account value is accounted so I would need $185,175 in the account?

 

If this is true this changes things for me.

You are multiplying by three TWICE.  You were correct the first time, in that the absolute minimum is $61,725, or three times the 125% of poverty level.  It would be best to have had comfortably more than that for a year or more.  The concept is that it take $3 in liquid assets to replace each $1 of income shortfall.  Your income shortfall is equal to the full actual income requirement, so three times the requirement will meet the minimum.

Edited August 10, 2018 by pushbrk

[Dongbei 22]

45 minutes ago, pushbrk said:

You are multiplying by three TWICE. 

Yes, because that guide I linked (which others on VJ recommended) says my assets are only considered at 1/3rd of their actual value. Is that just not true?

[pushbrk 13,259]

44 minutes ago, Dongbei said:

Yes, because that guide I linked (which others on VJ recommended) says my assets are only considered at 1/3rd of their actual value. Is that just not true?

Read what I wrote again.  You have misinterpreted and/or no, it is not true.  What I wrote is correct.

[Hypnos 6,578]

It's written in a slightly oblique way, but it's just another way of saying that you need 3x the required value when using assets as opposed to income. So the $61,725 figure is correct.

Edited August 10, 2018 by Hypnos

[Dongbei 22]

Thank you all for the clarifications. Yes, that guide is apparently written incorrectly. The guide does not say 3x 125% of the poverty rate for your household size, but rather simply says my assets are considered at 1/3rd of their value. Maybe someone can edit out that error as I'm sure it has freaked out a few people like me!

[pushbrk 13,259]

3 hours ago, Dongbei said:

Thank you all for the clarifications. Yes, that guide is apparently writtessets of Petitioner are calculated at 1/3rd value. If the Petitioner has $30,000.00 USD in a bank account, they will be given $10,000.00 USD credit toward income requirement.n incorrectly. The guide does not say 3x 125% of the poverty rate for your household size, but rather simply says my assets are considered at 1/3rd of their value. Maybe someone can edit out that error as I'm sure it has freaked out a few people like me!

While I agree that it would be better to state the asset treatment the same way the I-864 instructions do, the full sentence you read was, "assets of Petitioner are calculated at 1/3rd value. If the Petitioner has $30,000.00 USD in a bank account, they will be given $10,000.00 USD credit toward income requirement."

 

Your mistake was to use BOTH the 3 times requirement in the form instructions AND the 1/3rd value wording in the WIKI, effectively using a 9 times requirement.  Your $60 odd thousand gives you credit of 20 odd thousand towards the income requirement, just as the WIKI says it does.