Insurance company collecting from at fault person with no insurance

[Addicus]

I did not have insurance at the time of my accident. The insurance company for the car I hit paid $17,000 in damages and are asking me to pay. What if I don't have the money to pay? I am a contractor with limited income and no assets or property. Can I negotiate with them on the amount? If so, would $3000 be a decent proposal since I do not have resources? What might they do to try to collect from me?

 

[Betty3]

You can "try" to negotiate a lower amount. I doubt they would accept $3000 on a $17000 damage claim. If you don't pay, they could take you to court to get a judgment against you. However; if you don't have much income/assets, they might not have much (if anything) to collect the judgment from though you could have more income/assets in the future. Most judgments are good for quite a few years & can generally be renewed.

 

[army judge]

I did not have insurance at the time of my accident. The insurance company for the car I hit paid $17,000 in damages and are asking me to pay. What if I don't have the money to pay? I am a contractor with limited income and no assets or property. Can I negotiate with them on the amount? If so, would $3000 be a decent proposal since I do not have resources? What might they do to try to collect from me?

If you refuse to pay, they'll hound you, until they eventually sue you.
If they sue you, their high priced, MEGA-BIG-DEAL lawyers will easily secure a judgment against you, for at least $30,000. You see, they will REQUIRE you to pay their legal fees.

I suggest you IMMEDIATELY discuss the efficacy of filing a bankruptcy with a couple BK attorneys in your county. A BK was intended to assist people that will soon be overwhelmed by massive debt!

 

[disagreeable]

Don't forget to file that SR1 and lose your license.