Options on possibly paying others insurance

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Options on possibly paying others insurance

My significant other was involved in an accident with my vehicle on 02/07/2017. He recently just paid off the other males hospital bills. Now we are a family of 3, struggling but the insurer is threatening us with a lawsuit if we don’t pay $1000 down payment, then monthly payments of $400 to equal $15,000, which we do not have. We are both 19 just wondering if there’s another route where we save a few thousand to help us.

Asked on February 4, 2019 under Accident Law, Arizona

Answers:

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

Answered 2 years ago | Contributor

If there is a lawsuit in which there is a monetary judgment in an amount you can't afford to pay, it would be advisable at that time to file bankruptcy.  Chapter 7 bankruptcy is straight liquidation which will eliminate that debt.


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