QUESTION
What I should do if I am working two jobs just to make ends meet and no way have that kind of money?
Asked on Oct 02nd, 2016 on Personal Injury - California
More details to this question:
I was involved in a car accident on May 25, 2016. The accident was deemed my fault because I did not see a stop sign and was actually told by a person at the scene the stop sign was not there. I don't know because when my brother went through there after accident there was a sign there. I misunderstood my coverage and was told I only had $5,000 in property damage. The other insurance company is now requesting I pay $37,000 for the other vehicle which was a Cadillac Escalade and I saw the vehicle and there was only damage to front end.
1 ANSWER
Edwin K. Niles
The insurance co for the other driver has (no doubt) paid for the repairs, and will probably try to get reimbursement from you. They will probably refer the case to a subjugation lawyer, who will try to collect, and eventually will probably file suit against you. A judgment is good for ten years, and can be renewed. The result may be that if you try to buy a home years from now, you will find that you may have to pay the judgment, with interest at the rate of 10% per year. You should talk to the insurance co rep, and explain that you have no money and don't expect to have any. Maybe they?ll just accept the $5,000. The lesson for you and anyone reading this: Minimum coverage is sometimes inadequate. It only costs a few dollars more to increase the coverage.
Answered on Oct 26th, 2016 at 7:16 PM