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H1B -> H4 (Dependent) -> H1B Visa Questions. Help?

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  • H1B -> H4 (Dependent) -> H1B Visa Questions. Help?

    Hello

    Below is my scenario:

    1. I was working for company A until 09/29/2014 on a H1B visa (full time) and voluntarily resigned from it due to personal reasons. (I still have 3 years on H1B remaining)
    2. My wife also works for company A who is also on a H1B visa (full time). I had my H4 dependent visa applied on 09/29/2014 and did not leave the country.
    3. I've been waiting for H4 visa for a while now and there has been no progress in the case status. Presently my driving license also expired and my situation is pretty frustrating.
    4. I interviewed for another full time position at company E and received a job offer from them on 11/06/2014. They asked me about my visa status and I mentioned to them about my H4 being in processing stage. They're ready to apply for my H1B via premium processing.

    Questions:
    1. Will I face any problems for being out of status? I believe "Change of Status - H1B -> H4" would be okay for me to stay within the country until it is approved.
    2. Will I face any problems if I apply for H1B visa now? (While my H4 is in processing?)
    3. Do I have to wait until my H1B is accepted or can I start working when the application has been received by USCIS?

    4. Also, question on behalf of another friend who was terminated from company A (on H1B). He stayed within the country for 75 days before applying for H4 visa, since he was interviewing for another position that didn't work out. His H4 has been in processing stage also and he's been worried about his status. How many "out of status" days is usually okay?

    I know these questions have been asked/answered many times before. Could someone help me here, urgent please?

    Thank you

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