Davethegoat

Hi all, if i am to use cash assets from the UK to make up the difference for my future wifes salery what are the rules on this? Ie, can i use this cash once in the US to buy a car, deposit for house etc or does it need to stay in an account to meet requirements?
Thanks.

civilservant

It is only required to show it to be approved for the visa, there are no requirements on holding it after approval.

tom169

You can use it all up the second you cross into the US on the visa and the I-864 is enforced.

Davethegoat

Great, thanks peeps

Davethegoat

Also, i have a 10k loan. Now i am getting some money together in preperation to meet cash assets requirement im guessing im better off not paying my loan off in one go as they dont look into what debt i have, only how much money i have. Once in the US i can then pay off my loan straight away right?

Noorah101

USCIS does not care at all about your debt. How you pay it is entirely up to you.

Rene

Davethegoat

Thats fantastic news for me, thanks.
Is there anything stopping me going to the bank and getting another 10k loan on top of my current loan to bump up my assets even more then? Or will they look at how recent i got all this money?

Noorah101

For cash asset proof, you may be asked to show a year's worth of bank statements. If USCIS sees a chunk of money like $10K deposit, they will want to know where that money came from. A loan will need to be paid back, so won't be considered a good asset.

Besides which, starting your life in the USA with such large debt is probably not a good idea, aside from any USCIS issues. You might not be able to find a job for some time, and your spouse already doesn't earn a great deal.

Rene

Davethegoat

This is where i am up too so far.
This years salery for usc is $11000 due to working part time.
As of now she is going to be working more hours ( we are both still finalising our devorces so we have time i guess )
So with her salery set to increase in 2018 plus i am very hopefull of getting a 30k redundency payout in june we have a starting point of reaching the requirements. The loan money will just be to help us reach the correct figures to make all this happen.
Lets say we get married in May, how long after we start the process will we have to show proof of salery and assets? Yes 2017 tax return will be bad but she will have proof that the start of 2018 she is working more?
Thanks

Nutmegger

Not a good idea -- a loan is a liability, not an asset.

Noorah101

As both of you are still married, you can't even begin the immigration process until you are both divorced and free to remarry. Then you have to get married, file the I-130, and wait for that to be approved (4 - 6 months or so), THEN the I-864 comes into play. So you have a long time to prepare financially, which is good.

And, hopefully, declaring ALL income, as she should be (including cash tips).

Good start.

You can't do something "just to help reach the correct figures". USCIS needs the savings to be real, not a loan just to help boost the figures. So forget taking out another 10K loan. The existing loan amount was already done, so that cash in the bank is OK, as it was done prior to knowing you want to immigrate (I assume).

If you get married in May 2018 and file the I-130 in May 2018, you can probably estimate that the I-864 might be due sometime in late 2018. Submitting the I-864 can also be delayed if you aren't quite there financially.

The I-864 goes by current income at the time the I-864 is submitted to NVC. So the I-864 figures will be whatever she earns plus your cash assets probably around late 2018.

Rene

Davethegoat

Thank you very much for all your help people.
Just to confirm, i am not some low life schemer. Im just trying to learn what the rules are and find a way to be with the lady i love. I still find it hard to believe i can show i have cash assets but they are not interested if i have more than that in debt.
All your advice has been taken on board. Again a huge thank you. I would be lost without this site.

Noorah101

I'm sure no one thinks you're a low life. We are here to help.

Rene

lansbury

That doesn't seem logical. Surely assests are the amount of cash in the bank, less any debts owed.

If you own a £300k house and owe £250k on it, its value as an assest is £50k. In respect to the immigration requirement I would expect the same to apply to cash or other assests, and debts.

Noorah101

It depends on the debt. For property, yes, you can only use the equity in the home.

But for cash in the bank, the whole amount can be used, and one does not deduct debt like credit cards, auto loans, personal loans, student loans, etc.

Rene