You get a letter from a lawyer saying you need to give more. But you don't have it. You moved away from home. You have a used car and live payday to payday. You don't have extra earnings. What happens to the victims? How far into the future do they or their family have a play on your earnings or inheritances?
2007-02-04 17:00:27 · 5 answers · asked by Anonymous in Business & Finance ➔ Insurance
Only a judge may determine an amount you are liable for. Your auto insurance policy will defend you & pay up to the maximum amount of liability you purchased.
Any assets you possess now or in the future are at risk once a judgement has been entered.
Send me an email w the particulars & I'll be glad to try & scoop you on where you stand!!
2007-02-04 17:03:42 · answer #1 · answered by SantaBud 6 · 0⤊ 0⤋
In accident cases Insurance Companies are responsible for payment. Ideally you would not be held liable, if you don't have enouh insurance than the injured UIM (underinsured motorist) Coverage would make up the difference. Obtain a Lawyer if necessary.
To the other responder---Auto Accidents frequently result in $1,000,000+++ Judgements. You must realize that these judgements aren't solely for Pain & Suffering but also the anticipated cost of future medical treatments.
2007-02-04 17:31:49 · answer #2 · answered by gptrejo3 2 · 0⤊ 0⤋
A million dollars? Did you hit a gold car? Your insurance company should be able to settle this matter for much less than this, and I doubt any judge would award a million dollars for an auto accident.
2007-02-04 17:08:13 · answer #3 · answered by All I Hear Is Blah Blah Blah... 5 · 0⤊ 0⤋
If they chose to pursue, they could come after you. One of the best bets for you is to file bankruptcy if this happens. Chances are they probably have uninsured/ underinsured motors which can save you. This is why it never hurts to pay a little more for extra liability.
2007-02-05 00:16:08 · answer #4 · answered by jade 1 · 0⤊ 0⤋
Well, until forever, or they get paid. They can ALSO garnish wages, or garnish future wages.
Victims just have to suck it up and not collect, most of the time, as MOST people with nothing, continue to have nothing. But if you ever hit paydirt and they find out about it, they can attach EVERYTHING.
2007-02-05 00:27:48 · answer #5 · answered by Anonymous 7 · 0⤊ 0⤋