Hello. My H1B extension got denied (I-94 expired in sept). I’m planning to leave the country in a week.
- Do I need to close my auto loan?
- Can I have the car under my name thought I don’t have a visa here and not physically present in the country? (Assuming I make all the remaining 7 monthly payments on time)
- Do I need to close all my bank accounts?
Sorry to hear that.
Can you share the reason for denial?
Close Auto Loan after H1B denial
It is your choice if you want to keep the loan going and keep paying it monthly if you are NOT selling your car.
If you want to sell your car, you will have to close the loan before you can sell.
Not sell the car
It is your choice if you keep the car parked somewhere while you are not in USA. This is perfectly fine if you want to keep paying the bank EMI and monthly car insurance.
Bank and insurance company only care about monthly payment and as long as you keep paying them, they don;t care where you physically are!!
Close Bank accounts
The same is true with bank accounts too. You can keep them open if you can fulfill the minimum balance requirements.
I got an RFE for specialty occupation. After submitted all the docs, USCIS said the client letter (standard format has no responsibilities, roles) doesn’t have enough information.
Not sell the car - I think this is a better option. I was under the impression that it would be a problem (car still on my name with no visa status) if I ever come back to this country . Also, I believe for insurance there’s an option to freeze the policy with " temporarily overseas" reason. So maybe I need not pay the insurance.
Thanks for sharing the information. I appreciate it.
If your insurance company has that option, you can opt for it.
Remember, you will still have to keep the car registration, state check up to date to avoid fines.
I am sure you will be parking it at a safe place or at a friend’s place.
Yes, Anil I will be parking at friend’s place.
Should I carry the car registration with me ? I thought of leaving it with my friend just to be sure.
I leased the car and have only 7 more payments on it and should be returning it after that.
It is better to leave all documents and a power of attorney in favor of your friend to take care of signing on your behalf in your absence.
If for some reason, you are not able to travel, your friend can return the leased car and sign on your behalf on any documents that may need to be signed.