Legal Question in Personal Injury in Illinois

car accident injury lawsuit

My son was in an accident in May 2008. He was at an intersection waiting to turn left. He started to turn when a lady coming from the other direction sped up to beat the light and hit him. His car was totaled hers had minimal damage. His was a cavalier hers was an expedition. She is suing us for injuries. My son was ticketed for failure to yield

she was ticketed for no proof of insurance. When she showed upin court she had no visible injuries and did not need any help in walking or moving. My problem is this. My insurance company sent us a letter saying that there was a chance that a settlement if reached might exceed the limits of our policy of $100K/$300K Bodily. and $50K property damage.

If this happens what can I do to protect my home and assets. My wife lost her job in August of 2008. We have very little savings a son starting college this fall ( which I borrowed from my 401K to pay tuition). Our house has a first and second mortgage. What can I do?

John


Asked on 6/13/09, 10:16 pm

1 Answer from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: car accident injury lawsuit

You need to hire counsel to oversee what your insurance company is doing so that your interests are properly protected. In many cases, your insurance company will have to pay the attorney of your choice to defend you. Chances are that the other side made a demand in excess of your policy limits even though the case is not worth that much.

Once that happens, your carrier is under an obligation to notify you.

Regarding your asset protection, it sounds to me that if an excess judgment was entered against you, you would meet the critereia for a chapter 13 bankruptcy, especially if you have only one income and two mortgages. However, it is way too soon for that.

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Answered on 6/13/09, 11:59 pm


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