A car accident can be a traumatic event, and things only get more complicated when you have to sue the other driver to get compensation for your damages and medical expenses. But if that driver has no money, how do you get paid?
Don’t panic: There are still ways to collect what you owe, both through the insurance company and through the courts. Getting the compensation you deserve after a car accident when the other driver has no money is possible as long as you are patient and prepared.
Getting money through insurance agencies in Chicago if the other driver can’t pay
In most cases, insurance companies are the first resort when it comes to getting reimbursement for medical expenses and vehicle repairs after an accident. However, there is a chance that the driver at fault for the accident was not adequately insured. An Insurance Research Council study estimates that nearly 12% of drivers in Illinois are uninsured.
Illinois uninsured and underinsured driver coverage policies
Illinois is an “at-fault” state, meaning the driver who caused the crash will be held responsible for the damage. Drivers are required to have liability insurance and uninsured and underinsured insurance Coverage. These policies cover medical expenses when the other driver is unable to pay.
Collision coverage is optional, but can be beneficial. This policy will cover the cost of repairing your car if the other driver is uninsured, but you must have the policy to use it.
The employer of the driver of the error can pay the bill
If the guilty driver was driving on the clock, his employer could be held responsible for your damages and medical bills. Driver’s personal insurance will likely be the first avenue taken, but the employer may be required to use their liability insurance to cover your compensation.
And there could be a chance that the accident involved a teenager without their own insurance. The responsibility would fall on their parents or guardians to take care of your expenses.
Chicago court-ordered damages
While insurance may be the first place to look when getting compensation after a crash, there can still be challenges. Even if your lawsuit is in your favor, you may need further assistance from the court to get the compensation you owe.
The court may order the defendant to sell their assets
If the defendant does not have insurance to cover your losses and your damages exceed the insurance policy you have, you may be sued for further charges. If the defendant is shown to have no money to pay you, the court may order him to sell the assets he owns. They can also seize their wages until you are paid in full for the damage they caused.
Payment plans can get you paid over time
A judge may order the defendant to pay you on a schedule. This is usually done when the defendant is unable to pay the full balance of the damages owed in one go. Defendants generally agree to this method because it makes the guilt more bearable.
However, it is not a guaranteed way to get your money, and it will take some time to recover the total compensation you owe. Interest can also be collected as part of the plan, further complicating matters.
Be wary of cash advances prior to settlement
As is common with auto insurance claims, getting your compensation can be a lengthy affair. Even with a lawyer working for you, you may feel stressed and want your money before the courts or insurance companies can get it to you.
Avoid services that offer prepayment loans . These often work on the basis that you are lent some money that you can repay once your settlement is awarded. However, that should be taken with a grain of salt: you have to win the settlement before you have the money to repay the loan. Losing the settlement or not getting as much of a prize as you thought could backfire. Having a lawyer by your side can help reduce that risk during this process.
Contact Staver Accident Injury Lawyers, PC today
Car accidents are a risk that drivers face on the road every day, and the prospect of not getting compensation for someone else’s negligence can be daunting. However, having a lawyer to guide you through the claim process and assist you during legal proceedings can be the best option for getting compensation.
At Staver Accident Injury Lawyers, PC we know how challenging life can be after an accident. The prospect of unpaid medical bills and car repairs can have serious consequences for your health and mental well-being. That’s why we doggedly fight for your rights through settlement negotiations or to win a claim with your best outcome in mind.