I live in Canada. My insurance for my car accident is ready to settle. My lawyer tells me that the government takes 30,000 off the total of the amount they are willing to give me. So after I pay the lawyer & the government takes 30,000, that leaves me with a small amount. I am just curious as to why the government gets $30,000 off my settlement as they are not the ones who pay my car insurance payment every month.
I would appreciate any input I can get on this.
Does the government always take money off your car accident settlements??????
Thanks
2007-03-25 10:17:50 · 4 answers · asked by Terashan 1 in Cars & Transportation ➔ Insurance & Registration
There is something missing in this story. I have no idea why you are being told the government is taking $30,000, unless you owe $30,000. Ask your lawyer what the $30,000 is for. I am a licenced insurance broker and I have no idea.
2007-03-25 10:37:05 · answer #1 · answered by Fred C 7 · 0⤊ 0⤋
All kidding aside, a totaled automobile and 10K in meds is chump exchange. All a criminal expert will do for you is take 30 - 40% of your contract and drag the declare out for months. i'm constantly surprised that maximum of folk stay with the theory that in simple terms by way of fact you have suffered an harm you need to be entitled to the powerball lottery. i'm additionally surprised and disgusted on the form of people who stay with the theory that a criminal expert can by some ability bully the coverage companies out of tens of hundreds of greenbacks above a freelance grant made to you. right here is a few truly sturdy information: coverage companies are actually not terrified of legal experts. coverage companies have lots of legal experts ON team. Having a criminal expert would not make your declare worth one cent greater advantageous than that's. legal experts settle ninety 5% of each case out of court docket, in many cases for below nominal quantities above the unique contract grant. Your superb direction would be to attempt to artwork WITH the claims adjusters in the direction of what you think approximately a trustworthy contract, leaving legal experts out of it till actually mandatory. Use your head vs your heart in the time of negotiations.
2016-10-01 11:41:02 · answer #2 · answered by puzo 4 · 0⤊ 0⤋
I live in the US, so I am not at all familiar with Canada's laws. Could it be that they are taxing the settlement as income?
2007-03-25 10:51:36 · answer #3 · answered by ☼ grateful ☼ 2 · 0⤊ 0⤋
Welcome to the socialist form of government.
2007-03-25 16:42:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋