Question...

[secrecyguy2]

For people who going to criticize me for what I am about to say, you don't know the situation I am in. So if you going criticize me, please go someplace else.

I got into a minor car accident with a rich guy with very expensive car. He even got me saying it was my fault on video.

Now he is claiming he got injured and so did his passengers.

I already send my insurance company my dash cam video and my insurance got my car computer information that shows it was a minor accident.

It appears he is going to end up suing me. His claim is $300,000 of damages and medical but my insurance will only cover me for up to $100,000.

His lawyer did try to get more info about my insurance but I decline sharing any more information about me. I even close all my public social media accounts.

I don't make that much money. I even told him that. I think he is after any future earnings I make.

Now my question is, if he end up winning the case against me, what state can I move to, to avoid paying him? I know Florida is one of them because I know OJ Simpson moved there to avoid paying.

Thanks for any help.

 

[quincy]

What is the name of your state?

On this forum, by the way, you do not get to dictate who responds or how they respond. I recommend you ignore the posts you don’t like and take with you whatever information you find helpful.

 

[FlyingRon]

Depending on your state, you may be obligated to disclose the policy limits (for example, Florida mandates such). This is why we ask.

Despite the lower limit in your insurance, they're obliged to either pay it or defend you. If they settle it (out of court), they'll almost certainly require the opposition to waive further actions.

 

[adjusterjack]

Florida wouldn't have been much protection other than an unlimited homestead exemption and possibly a head of the family exemption for wage garnishment.

Texas would probably be the best state due to its unlimited homestead exemption and prohibiting of wage garnishment.

You can look up every state's exemptions at:

https://www.thebankruptcysite.org/bankruptcy-exemptions

I doubt if the claim will ever see a courtroom. The guy's lawyer will probably settle within your policy limits.

 

[quincy]

What type of car was the fellow driving?

What type of injuries are being claimed?

Is more than one occupant of the damaged vehicle thinking of filing a claim against you?

If provable damages are significant, it is possible that the fellow will refuse to settle the matter for $100,000, instead taking a gamble on a court verdict in his favor.

It is hard to hide from a judgment, by the way.

 

[Taxing Matters]

Now my question is, if he end up winning the case against me, what state can I move to, to avoid paying him? I know Florida is one of them because I know OJ Simpson moved there to avoid paying.

Your insurance company will represent you in the lawsuit. One of the things that will happen is that the plaintiff's lawyer will find out the details of the auto insurance you have and what other assets you have from which a judgement could be satisfied. If you don't have much in the way of assets that the plaintiff could attach the plaintiff will very likely end up settling for some amount within your policy limits. Especially if, as you say, the accident was minor. In other words, it's likely you'd not end up paying out of pocket for this when all is said and done.

Now my question is, if he end up winning the case against me, what state can I move to, to avoid paying him? I know Florida is one of them because I know OJ Simpson moved there to avoid paying.

Florida would not help you protect your wages from garnishment. Only states do not allow wage garnishment for most private judgments: Pennsylvania, Texas, North Carolina, and South Carolina. Each of those states has different rules on what other assets are exempt from attachment, i.e. differing homestead amounts, etc. Which state might best help you protect your assets will depend on exactly what assets you have.

If you ended up with a large judgment you cannot pay, the better option is probably to file bankruptcy than moving states to try to avoid collection of the judgement.

Again, though, chances are it'll be settled within policy limits and you won't have to worry about it.

 

[zddoodah]

I got into a minor car accident with a rich guy with very expensive car.

When and in what state did this happen? And how, aside from his car, do you have the slightest idea about his financial condition?

my insurance got my car computer information that shows it was a minor accident.

Not sure what that means. "Minor accident" is not a term with any precise or specific meaning.

It appears he is going to end up suing me. His claim is $300,000 of damages and medical

Damages and medical? I assume his car is damaged. What damages does he claim other than medical? The only other valid damages would be lost earnings. What are the limits of your liability coverage?

if he end up winning the case against me, what state can I move to, to avoid paying him?

Probably most states in countries that are not the United States (and that's only because it might be cost prohibitive to chase you down in a foreign country).

I know Florida is one of them because I know OJ Simpson moved there to avoid paying.

Sigh...

O.J. Simpson did not "avoid paying." He actually paid a fair amount against the $33 million judgment against him (for a time, a set of his seized golf clubs sat in the office of a lawyer down the hall from me). The problem is that a $33 million judgment in California accrues interest at the rate of over $9,000 per day, so it's pretty difficult to make a dent. O.J. Simpson is, and since entry of the judgment against him, has been mostly judgment proof because his primary (and at times, only) source of income has been his NFL pension. Pursuant to federal law (ERISA), his pension is not subject to levy. The reason he bought a house in Florida is because Florida is very debtor friendly and exempts the entirely of one's personal residence. Thus, he can use his exempt NFL pension to pay the mortgage on his exempt home. Other assets are very much subject to levy and, if he had a job that paid him a salary or wages, those would be subject to garnishment.

If you think you can move to Florida to avoid paying a judgment, you're a fool.

What you ought to be aware of is that rich folks generally get and stay rich by not wasting their money. Also, your insurer owes you a duty to settle the claim against you within policy limits. The average person (and this seems to apply to you) is not worth suing beyond the limits of his/her auto liability coverage because the average person has few non-exempt assets to cover a judgment in excess of coverage.

So...not only is it likely that your insurer will settle the claim within the limits of your coverage, it is unlikely that the supposedly "rich guy" will waste good money trying to get blood from a stone.