What to do if my husband was at fault for an accident but only had 10k collision but we owe another 30k in damages?

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What to do if my husband was at fault for an accident but only had 10k collision but we owe another 30k in damages?

Well we just got a letter in the mail saying that after our insurance paid the 10k we owe another 30k. I have no idea what to do. I’m in school and my husband just got out of the military we have no idea how we could even possibly pay that amount back. What do we do? I know we made the stupid decision to only do the 10k coverage but it’s too late to take that back.

Asked on December 14, 2014 under Accident Law, Wisconsin

Answers:

Anne Brady / Law Office of Anne Brady

Answered 6 years ago | Contributor

I'm assuming you do not mean $10,000 in collission, which covers your own car, but rather $10,000 in liability for damage to the victim and his or her car.  I am also assuming that the letter is from the victim's personal injury attorney, and that s/he has yet to file suit against you.  You can always attempt to negotiate with the victim's attorney and possibly set up a payment plan.  The fact that you have no more insurance to draw on means the potential plaintiff's attorney knows there are no deep pockets here to go after, and therefore s/he should be open to negotiation.


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