I was at fault when my car encountered with the client of state-farm insurance company back in 2010. The insurance company charged me $4000 for damage done. I kept paying $30 per month toward paying the $4000 until in 2012, I wasnโt able to continue the payment due to constraints and not employed. Few days ago, the insurance company called me to let me know that they are filling a demand of suspension against my driverโs license. They said I must pay $1500 first for down payment and the rest monthly, I told them I canโt afford that but I can pay $100 and after $50 every month. But they reject that and they threaten me that my driver license will be suspended because they are in the process of filing against it. I canโt be able to pay all the amount they ask and Iโm not working.
One option is to file a bankruptcy. That generally can prevent a license suspension but it has its own merits and disadvantages and costs. Consult a skilled bankruptcy lawyer.
You lost your chance. If you had contacted them immediately when things got bad, this would not be a problem. You were hoping they would forget about you, and you lost.
If you cannot reach an agreement with them, your license will be suspended. If you cannot reach and agreement, talk to a bankruptcy attorney to see if bankruptcy would avoid the suspension.
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