If I had a accident and my insurance won’t cover all the damage to the other vehicle, what options do I have?
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If I had a accident and my insurance won’t cover all the damage to the other vehicle, what options do I have?
I am a minimum wage college student.
Asked on December 3, 2013 under Accident Law, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
First, be aware that unless you are sued, you don't have to do anything--you do not have to pay unless you are sued and lose. If you are sued:
1) You can try to settle, or come to an agreement to pay an amount you can afford (and/or to stretch payment out over a long period of time); however, be aware that settling is voluntary for the other side, and they may not agree to an amount you can afford.
2) You can simply let them sue you, defend yourself as best you can (no lawyer fees) then either ignore the judgment for now--if you don't have anything, they can't take anything--or possibly declare bankrupty. Either way, your credit will be ruined for years, but you won't have to pay the money.
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