More details to this question:
I was in a wreck last May. I was at fault in the accident. My car was uninsured. I just received a letter from an attorney for the guy I hit in front of me. They want to collect a debt of about $21,000. The car damage was about that, there was a $1000 fee for a rental car, and a $1500 fee for medical. They got about $5000 from scrapping the car so they are trying to collect about $21000 from me. I am a full time student, who lives off of my student loans and food stamps. I can barely afford my own bills and they want to set up a payment plan with me. I am independent from my parents. My dad is on disability and my mom works a minimum wage job, so they can't help financially. I do not own anything, except my car which is probably only worth about $1000. My parents don't own anything either and are in serious debt. They said they may file a lawsuit against me in 30 days, essentially suing me. Should I let them sue me since I don't have anything for them to take from me? Since I am a full time student and have basically nothing to sue for, could they drop the case all together?
1 ANSWER
If they sue you and get a judgment against you, then they have 10 years to try to collect.
Also, since you had no insurance, Ohio's BMV could suspend your driver's license.
IMO, you likely best option is to file a Chapter 7 bankruptcy which would eliminate any claim against you. A bankruptcy would likely cost youy less than $2,000 for fees and expenses.
Bankruptcy would eliminate the possible of your post college employment earning being subject to garnishment.
Answered on Jul 23rd, 2015 at 2:19 PM
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