Quote:
Originally Posted by James H
Once a judgement is made, the decision of whether to sell the car is out of the OP's control. They will go after all assets under his name which I assume the car is one of them. So that alone may be used to pay off the debt owing.
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Primary vehicles, primary residences, work tools, necessities of life, etc., are often exempt from seizure for civil judgments. Varies by state, of course.
But honestly, the credit and public record penalty for a judgment is something to be avoided. I’d want to square up well prior to court action being filed. $5k lump sum and a release affirming that the lump sum settles all claims by the ins co and/or other driver would be a good goal to pursue.