Am I in danger of a lawsuit?

My neighbor came to my house and let me drive a recreational vehicle that didn’t belong to him. While driving I rolled the vehicle and caused damage to the vehicle. The vehicle is valued about $13,000. I offered to take the vehicle over but with poor credit I am unable to be approved for a loan. The owner said that she would be willing to sue me if I could not get approved for a loan or find another method of paying the vehicle off in full. I would like to resolve this without getting the court involved but I need to look out for my own interests.

Asked on April 27, 2017 under Accident Law, New Mexico

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You are liable for negligence for the damage to the vehicle. Your liability is for the property damage (cost of repairs). 
Your liability does NOT include taking over payments, purchasing the vehicle, paying off the vehicle, etc.
If you are sued and a court judgment is obtained against you in an amount you cannot afford to pay, at that time it would be advisable to file bankruptcy.  Chapter 7 bankruptcy is straight liquidation which will eliminate that debt.


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