need help again!

[atrak]

What is the name of your state? Texas

Hey guys,
I submitted a thread sometime ago (not to long ago). I was hit by a guy leaving a bar one night. Car was totaled, and my left had was broke (3rd & 4th metacarpals’). The insurance wants to pay out the full coverage ($20,000).
If I take this, can I or can I not sue this guy afterwards? For up and coming operations, meds, PT, and so on.
If I can not and I choose not to take the payoff from the insurance co. and decide to sue this guy in civil court (is this correct?). For; Physical pain and suffering, Mental or emotional pain or anguish, Disfigurement & Physical impairment, Inconvenience, and Loss of enjoyment of life.
Is he protected for any amount of money (like $60,000 I guess something like bankruptcy) by some law?
Say, I do take him to court and get awarded some money. It’s true the state will garnish his wages, right?

Oh yeah what is the staute of limitations on an auto accident?

Thanks for you help!

 

[fcobarr]

accepting the settlement prevents you from taking further action against him. You will sign a release to that effect.

You can sue him, however the insurance will only pay up to his limit and if he has no assets...good luck. Also, if you sue, don't forget the lawyers fee...typically 1/3.

They are offering you his limit, so even with a higher judgement, you may walk away with less after all is said and done.

Tough decisions. Good luck.

 

[alnorth]

fcobarr pretty much laid out your limited options. In this case, you may have to accept the offer unless the driver has a lot of assets you can go after with a judgement.

Did you have underinsured motorists coverage on your own policy with a significantly higher limit than 20 grand?

 

[atrak]

at the time i did not have uderinsured motorists coverage.
can you guys answer:

Is he protected for any amount of money (like $60,000 I guess something like bankruptcy) by some law? this is what my lawyer said. i never heard of such a thing.

Say, I do take him to court and get awarded some money. It’s true the state will garnish his wages, right?

Oh yeah what is the staute of limitations on an auto accident?

 

[ecmst12]

IF he has a job, they MIGHT be able to garnish his wages. Depends on your state's laws, they may not. In PA, it's almost impossible to garnish someone's wages except for child support. If it IS permitted, you need a bit of legal know-how to file for it, it's not something that happens automaticlly. If he has assets, you MAY be able to seize them, but again that depends on your state's exemptions for property, and also requires legal knowledge to file the right paperwork.

If he's unemployed, rents his house and hasn't paid off his car, you'll get nothing. And unfortunately, that's where a lot of uninsured or minimally insured drivers are, they don't have no or crappy coverage because they're independantly wealthy. If he files for bankruptcy, you'll likely get nothing. In other words, it would be taking a big risk to try and seek a larger judgement on this guy, not knowing what kind of assets he has or whether you'll be able to get at them. And you'll have to pay your lawyer regardless of whether you can collect on the rest of the judgement.