6th Year of H1B - Possible to change Jobs?

[igpoint]

Hello,

Q1) I got my H1B in Oct 2006 and have already renewed it once. The current visa expiration date on my passport is April 15, 2012. Since the issuance of my H1B, I have been outside the US for total of 6 months. Based on this, can I say that my visa is valid till April 2013? Of course I understand that my current employer will need to file for H1B extension for this to happen.

Q2) I recently heard that there is a strong liklihood that my employer may soon go out of business. This has me worried because of my visa situation. However, I am not sure if I am in a position to change my job since I will have just over a year left on my H1B, even if I get the extension ASAP. Can you please confirm?

Additional info - my current employer recently begum my Green Card process. We are in the 1st step (Labor Verification) and can only file on March 2012 because the recruitment process is being carried out now.

Q3) Any option you can suggest that will help me stay back in the US if my employer goes out of business within the next 2-3 months, will be much appreciated.

Thanks,

******

[pontevecchio]

1. With proof you can reclaim time spent abroad.

2. You can even work for a new sponsor for say 4 months. If your employer will go out of business the GC process is stalled. Hopefully you are not out of pocket.

3. Consult a Lawyer for ideas.

4. Leave for one year and come back with a H1 petition approval. If you found one sponsor, surely you can find more. This will give you 6 more years to aim for the GC.