Apparently when i was in a wreck almost 2 years ago the insurance settlement was not enough for the man I hit. Now he's taking me to court. If they find in his favor and they put a judgement against me what happens?
2006-07-10 07:54:49 · 8 answers · asked by tiggersgirl28147 1 in Cars & Transportation ➔ Insurance & Registration
If a judgment is entered against you they can attach your assets in order to have the debt paid. The procedure for this can vary depending on the state but they could sell your possessions in a sheriff's sale it it goes that far. I would approach the man you hit to try and set up a payment plan if you can swing it... If not find an attorney before it gets too far along.
This can happen if you only have state minimums. I am guessing that is what happened to you here.
2006-07-10 08:05:53 · answer #1 · answered by C B 6 · 0⤊ 0⤋
Well, they can go after any assests that you have. Car, home, etc. They can (and will, if necessary) garnish your wages to settle the judgement. Depending upon the amount of the judgement, this can go on for many years.
You should have defended yourself against this judgement. At the very least you could have shown the court that you had little of value to attach to settle a judgement.
2006-07-10 19:07:14 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Carry higher limits of bodily injury and property damage liability on your auto policy and you won't get hit with a court date. It might only cost you $50 or $100 / year and save you a lot in court costs...
Judgement = you owe $. You don't pay = ruins your credit. Ruined credit means no new cars or houses for you.
2006-07-17 13:34:05 · answer #3 · answered by Dubberino 3 · 0⤊ 0⤋
well you better go to court...if you don't and he gets a judgment and you still don't show up and he provides the court with your social security number then he'll get a brick on you wages and the court will take a big chunk of you cash.....and also any addition costs he incurred and possible court costs....or you could contact him work out a payment plan and pay the man so this won't hurt your credit rating because a court judgment will be on it
2006-07-10 20:04:55 · answer #4 · answered by blueman2 5 · 0⤊ 0⤋
A judgement put against you goes on your credit report. Until you satisfy the judgment. This does make it hard for you to get loans etc.
2006-07-10 21:29:44 · answer #5 · answered by dab_baken 1 · 0⤊ 0⤋
Well, you'll have to pay him. If you have no cash, or refuse, he can put a lien against your home, and if you don't own a home, he can have your pay garnished.
No expiration date on it, it won't ever go away until you're dead, or he's paid, AND it will accrue interest - usually 10% apr, that you will also have to pay.
I hope you've increased your limits in the meantime?
2006-07-10 23:22:33 · answer #6 · answered by Anonymous 7 · 0⤊ 0⤋
It will go on your credit report for one. It just depends you need to pay it because in some states they can take your liscense away due to financial responsibility laws. Been there done that.
2006-07-10 14:59:14 · answer #7 · answered by Heidi B 2 · 0⤊ 0⤋
You will have to pay whatever amount is settled on and they can attach or place a lien on assets if you can't pay it.
2006-07-10 14:58:07 · answer #8 · answered by curiositycat 6 · 0⤊ 0⤋