What should I do if I’m being sued for more than my policy limits?

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What should I do if I’m being sued for more than my policy limits?

I am being sued for $115,000 in bodily injury but my insurance limits were only $25,000 at the time of the accident. I am a homeless college student who lives in the only vehicle I own and sometimes I stay with friends. I work in fast food and I don’t make more than $600 a month or more that $10,000 a year. I don’t have anything to offer the defendant or any way to pay her. If she wins I was considering filing bankruptcy at age 21. I’m not sure what to do about the situation.

Asked on April 21, 2012 under Accident Law, Tennessee

Answers:

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

Answered 8 years ago | Contributor

It would be advisable to file bankruptcy if the opposing party gets a judgment against you.  Chapter 7 bankruptcy is straight liquidation which eliminates your debts.  Until there is a judgment against you, it would be premature to file bankruptcy. 


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