Insurance Settlement

[Carmella]

Insurance settlement for inconvenience and pain after the auto accident. After negotiation I was able to get $2,000 plus a day's wage (and medical bills being paid). I negotiated with the at fault drunk driver's insurance. My insurance told me what was the reasonable amount. I didn't want to be low balled and I am not greedy going for more.

I am sure I need to report this to the attorney, but I do not expect to have to give it to the trustee since we are in 100% plan and $2,000 is a lot for us, but not a lot in the eyes of the law in 100% plan.

Does this sound reasonable in my situation that we will be able to keep the $ and use as we see fit. Having no emergency funds I would like to stash some away and it will help pay property taxes since we haven't got into the pay monthly mode yet it's a crunch the last few paychecks before.

[justbroke]

You're in a 100% plan so there should be no pressure to pay it in, but your attorney and/or trustee may try to pressure. I say that you're in a 100% plan already so you should need to deal with this. I'd rather build my rainy day fund, and it is a relatively small amount.

I would still report to my attorney but I would personally not allow them to suggest that I surrender the money.

[shipo]

I agree with justbroke, alert your attorney to the settlement and also inform him/her you have absolutely no tolerance for surrendering the money to the Trustee.

[Zombie13]

Carmella , is this also intended as a contribution to a replacement car, or is that a separate settlement?

[Carmella]

Carmella , is this also intended as a contribution to a replacement car, or is that a separate settlement?

No this payment of $2,000 (plus my days wage) for my inconvenience and pain (some refer to as pain and suffering) which is separate than the money for what the car is worth, medical bills and the reimbursement of my $500 deductible. I have the check, but we haven't signed it yet. Weird that in Ohio your spouse has to agree and sign off on the check just because you have a spouse not because his name is on the car that's what the insurance people told me!

[Barbisi]

Carmella, I so glad that you're getting a little extra money to compensate you for a car accident which while not physically devastating, surely was emotionally upsetting to say the least, and worst of all, left you without a car!
To reiterate what the two Ultra BK13 Gurus justbroke and shipo have said, fight to keep every penny you earned through this rare trauma.
As for the required joint signature, I'm as baffled about that as you are, LOL!

[Carmella]

Barbisi it's just hitting me now after literally a month how much I miss my car and hate the fact through NO fault of my own my car was totaled about 16 months before it was to be paid off and I had planned on keeping it at least 5 more years and sometime soon get my husband a car and we would have ONE car payment for a while. Now I will be getting a higher interest car loan for many years and we still need to get my husband a car. I feel like we will get whatever we can get since it is transportation.

My neighbor as giving me suggestions to get a car, which kind and how they are more affordable and great warranties, etc But I feel like I cannot shop around due to BK. I could to an extent, but I don't understand it. If the court order would allow me to go elsewhere it did say "model/year/cost" or similar vehicle.

As I thought the car I looked at was sold so I will be starting over. Trying not to get anxious about it since they will have to run my credit to get a loan even though I had an offer before. I hope to have both the cash and court order early next week. I have the rental car until Dec 13 and feel in such a rush to get a new car by that date. I talked to the salesman and he was more stand offish (unless I caught him at a bad time). I don't want to pay the high price of a rental car with this settlement.

[Zombie13]

Carmella , sending positive Karma to you my friend! I will dedicate my yoga practice to you, with the intention of helping you.

[Barbisi]

Carmella, we are wishing only the best with the car settlement and all other things in your life!
Al though we haven't had to go through a car accident and settlement during this BK13 (so far, still crossing our fingers until we crawl to the finish line LOL) I can 100% empathize with how you must feel, because like you, we haven't had a rosy, stress -free bk13 experience.

[Carmella]

Thanks Barbisi there is a car at the end of the tunnel. Now we just need to court to sign off on the court order so I can move forward. There were no objections so the attorney said it's just a matter of time!

With the state of the car market I don't know that we will be able to try to get my husband a car. He really wants his own and his coworkers give him so much grief about not having a car. I am not saying anything to him about we can re-assess in the spring. Maybe the car market won't be as crazy by that time.