What I should do if I am working two jobs just to make ends meet and no way have that kind of money? 1 Answers as of October 26, 2016

I was involved in a car accident on May 25, 2016. The accident was deemed my fault because I did not see a stop sign and was actually told by a person at the scene the stop sign was not there. I don't know because when my brother went through there after accident there was a sign there. I misunderstood my coverage and was told I only had $5,000 in property damage. The other insurance company is now requesting I pay $37,000 for the other vehicle which was a Cadillac Escalade and I saw the vehicle and there was only damage to front end.

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The insurance co for the other driver has (no doubt) paid for the repairs, and will probably try to get reimbursement from you. They will probably refer the case to a subjugation lawyer, who will try to collect, and eventually will probably file suit against you. A judgment is good for ten years, and can be renewed. The result may be that if you try to buy a home years from now, you will find that you may have to pay the judgment, with interest at the rate of 10% per year. You should talk to the insurance co rep, and explain that you have no money and don't expect to have any. Maybe they?ll just accept the $5,000. The lesson for you and anyone reading this: Minimum coverage is sometimes inadequate. It only costs a few dollars more to increase the coverage.
Answer Applies to: California
Replied: 10/26/2016
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