Did you have an accident that your insurance didn’t cover?
Uninsured accidents have become common. If you have lost income, you might have decided to enter the “gig” economy. This type of work often requires you to use your vehicle to do your job. And, if money is tight, you may also have cut back on your expenses. Unfortunately, one consequence of these decisions is that it impacts your vehicle insurance.
Driving others or delivering products can invalidate your regular auto insurance coverage. In addition, you can face enormous repercussions if you were in an accident and didn’t pay your premiums on time or reduced your coverage, leaving you responsible for uninsured damages.
If you were in a car accident, whether without insurance, with too little insurance, or with the wrong type of insurance, you could be required to pay the damages yourself. The DMV can cancel your driver’s license until you pay these damages. But sometimes, even with proper coverage, you may have problems getting your insurance companies to pay for an accident.
At A Fresh Start Law, we have solutions to address this issue through debt settlement or bankruptcy. The details matter in determining the best strategy for your situation.
Were you in an accident and are waiting for an insurance company to pay your claim?
If you file for bankruptcy, you must list any award you might be entitled to receive from an accident in your bankruptcy paperwork. It is possible to keep some or even all of this money. But the details matter, and the results may vary depending on the amount of money involved. In this situation, be sure to have information about the amount you believe you might receive and discuss it with your bankruptcy attorney and your personal injury attorney.
At A Fresh Start Law, we are very familiar with the ways to protect your claim for personal injury benefits. Our team will even consult with your personal injury lawyer to explain how to protect this vital asset.
Do you have a life insurance policy with a “cash surrender” value? Or do you have a claim for life insurance benefits due to someone’s death?
If you file for bankruptcy, you can keep all life insurance benefits you have purchased or are in the process of receiving.
But if you have received a life insurance check before filing for bankruptcy, how you handle depositing and spending it can be like walking through a landmine. The laws that protect your interest in life insurance benefits you receive are highly technical, and it is crucial to obtain and carefully follow expert legal advice. Unfortunately, it is all too easy to make a small mistake that destroys your legal right to protect this valuable asset.
During the past 35+ years, the attorney at A Fresh Start Law has faced many issues involving protecting life insurance benefits. We will carefully work with you to explain how to avoid potential land mines when handling this asset.
