I would not wait until a denial without any competent legal assistance. The better your case is prepared and handled, the better off your chances would be.
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The NVC will review the I-864, I-864EZ, I-864W or I-864A for completeness and correctness. If the form is not correct or complete, the NVC will ask the petitioner/sponsor to correct and complete the applicable form. It will explain what is wrong with the previously submitted form. When a corrected I-864, I-864EZ, I-864W or I-864A is accepted by the NVC, it will be sent with the immigrant visa petition to the U.S. Embassy or Consulate where the applicant will apply for a visa.
In other words, you are given a chance to fix any errors. But of course if the sponsor simply does not qualify, you should get the chance to submit the I-864 of a joint sponsor who would qualify. It is true that there are no appeal rights, but really, an appeal would be expensive, and it is better to fix the problems that way the NVC wants it fixed than it is to pay a lawyer to fight over legalese.
Next steps will depend on the reason for the denial. If there are any particular aspects of your case that give you pause or concern, now might be the time to hire competent immigration counsel. In immigration, it is generally easier to prevent disaster than to respond to it.
Answers provided by Ksenia Maiorova, Esq. on Avvo.com are of a general nature and do not constitute legal advice.