If I was in a car accident, are my personal assets in danger of being garnished or won in a lawsuit if I get sued. I have auto insurance and so does the other driver
2007-04-01 09:11:40 · 7 answers · asked by JEK 1 in Politics & Government ➔ Law & Ethics
If a judgment is won against you in a court of law, the other side has the right to ask that your assets be seized... property, checking account funds, everything is up for grabs.
Seen it done way too many times. They don't have to give you notice either, they just do it.
Can't be generated just from being sued, they have to actually win in court. Depending on the jurisdiction that could take months or even a couple of years. You'd know unless you just don't show up for any of the proceedings, (be surprised how many people ignore court docs).
2007-04-01 09:19:46 · answer #1 · answered by Anonymous · 1⤊ 0⤋
In all probability, the matter will be settled between insurance companies out of court within policy limits.
I really do not have a lot of information upon which to base an answer -- such as how bad the personal injuries were, if there were any, whether the accident was your fault, etc.
In some states, joint bank accounts are not subject to garnishment under a writ of execution unless the joint owner was a joint tortfeasor. Also, if you are receiving direct deposit of Social Security benefits, your bank account would not be subject to garnishment (at least in Pennsylvania).
2007-04-01 09:19:33 · answer #2 · answered by Mark 7 · 0⤊ 0⤋
It depends on how and where the accident happened. In the US some states have no-fault laws. If you were at fault, you can be sued. If you have auto liability insurance, your insurance company will have to provide you with an attorney. If your company has to pay out the policy limits on the liability policy, you can be liable for the remainder of any judgment. If you have attachable assets, they can then be attached.
It could take six or seven years for a law suit to get that far.
2007-04-01 09:26:42 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
It depends on the amount of injury and who was at fault, as well as differing state laws. Even though I don't have a good car, or much money, I carry more than the minimum coverage for personal injury. If your insurance only covers 20,000 in injury and the medical costs are 50,000, you can be sued for the remainder if you are at fault. Usually the insurance company can work out an equitable arrangement, but it's smart to cover yourself with the higher amount in accident insurance, since lawyers can increase the cost of a settlement. Good luck!
2007-04-01 09:25:39 · answer #4 · answered by mliz55 6 · 0⤊ 0⤋
You can be sued if you were at fault.
Usually garnishments or attachments(when they take from your bank account) only happen when youdon't make a reasonable attempt to pay.
Lets say you owe him 15,000 dollars...very few people can just write a check for that.
They will have you agree to a payment plan to pay him...if you fail for no good reason..he can go back to court to seek a garnishment of your wages or attachment of your bank account.
2007-04-01 12:25:05 · answer #5 · answered by Dr. Luv 5 · 0⤊ 0⤋
Yes. If they have 100k in damages, and you only carried 25k in coverage, they can get a judgement against you for the other 75k, and start taking your assets to satisfy the judgment.
2007-04-01 09:33:07 · answer #6 · answered by Catspaw 6 · 1⤊ 0⤋
It`s not likely to happen certainly no time soon.
2007-04-01 09:19:09 · answer #7 · answered by Anonymous · 0⤊ 0⤋