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%100 liable for totaled vehicle, very low settlement. help please?

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  • %100 liable for totaled vehicle, very low settlement. help please?


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Answer #1 | 19/12 2013 16:44
Cannot drive, do not understand insurance polices nor settlements, and you ask here for solutions that only a lawyer could offer. You could not even place a required punctuation at the end of the last sentence! To continue. Money amounts require some identification. The is 100% immaturity here. I suggest you speak with someone, get driving lessons, get counseling as to discipline and go to a contract law seminar. You drove recklessly enough to wreck this car. Now the consequences have arrived. Reckless.
Positive: 61 %
Answer #2 | 21/12 2013 09:54
Here is my guess. By 3rd party, they are saying they will pay for the damaged traffic light, which you would owe. Rear end accident, is never disputed and since you rear ended the other car, you are 100% liable. The reason they have offered to settle for $5,000 less, is that they don't want to set up a payment plan to pay off the $18,000. Just like credit card companies, they will negotiate and settle for less, just to get rid of the debt. I had a friend who owed a credit card company $18,000 and they agree to settle this for $10,000 and closed it out. He had to make 4 equal payments of $2,500 each, and if he did not pay, then they would go back to the $18,000. But, after paying the $10,000, they also submitted a form to the IRS, that in effect, the $8,000 he did not pay back, "became income", so had to pay extra on his taxes the following year. With any payment plan, they could be chasing you every month for that payment. Or, in the future, could file bankruptcy, and they get nothing. If you can get a loan, or family to help, pay them the one time payment of $13,000 and move on.
Positive: 55 %

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