Looking for answers

Date: Wed, 03/30/2011 - 07:14

Submitted by rico
on Wed, 03/30/2011 - 07:14

Posts: Credits: [Donate]

Total Replies: 2

my son and I are being sued for an accident my son had. The amount is outrageous. According to the insurrance company they will have an attorney defend me. But they do not give me hope because of the limits in the policy. I have a feeling that I and my son will have to pay some serious money. I cannot afford an attorney. If after all is said and done I cannot pay this suit because I might loose my job or because the amount to pay is to much will put my family and I behind on every financial obligation we have, including the mortgage. If this happens...can I file for bankruptcy and seek relief? Any hope in this? Thanks.

You can file bankruptcy and try to get rid of your debts. While

You can file bankruptcy and try to get rid of your debts. While you're in bankruptcy, you will even get a relief from the judgments and lawsuits. However, it is always better to contact a bankruptcy attorney and take his/her help in deciding which chapter of bankruptcy filing is best suited for you.

lrhall41

Submitted by Anna Sweeting on Thu, 03/31/2011 - 02:48

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A bk will stop the suit as it pertains to the debtor. If you fil

A bk will stop the suit as it pertains to the debtor. If you file then the suit will continue against your son. If both of you file (2 separate bks) the suit will stop in total. If the Plaintiff's attorney understands bk law, he will seek relief from the automatic stay for the sole purpose of completing the suit to get to the 3rd party insurance carrier policy. This is absolutely permitted since your (and/or your son’s) bk does not eliminate the insurance carrier's responsibility to honor the policy to its policy limits - assuming there is coverage.

Please note, if your son was "under the influence" at the time of the accident, should he file a bk, his liability will not be discharged.

You (and your son - assuming he is not a minor) should consult with a bk attorney.

Des.

lrhall41

Submitted by despritfreya on Thu, 03/31/2011 - 18:08

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