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 Posted: Wed Oct 22, 2008 11:10 pm Post subject: Hi,I'm looking for clarity. I was hit on the freeway 2.5 y |
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| Hi, I'm looking for clarity. I was hit on the freeway 2.5 yrs ago. Allstate is the responsible party insurance. I was unable to work for 26.5 months and have about 15k in medical bills so far. My DMX shows about 2.5 mm permanent damage/ slippage in my c3, 4, & 5. My pain mgmt specialist suggests a procedure that I have decided to wait to do in about 5 yrs after I have children. I have calculated $400k in known lost commissions in just the first year. I was hoping to avoid using an attorney b/c the other person in the vehicle went crazy & I do not want contact with him. That's less cost for them so I figured they would be all over it. How do I know what kind of settlement I should be looking at and if I feel like they are starting to stall due to statue of limitations should I sue them? How would I go about that? Please help! Thanks! |
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magda
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| Posted: Thu Oct 23, 2008 12:15 am Post subject: |
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Ok, first are you dealing with their carrier? (allstate)? What are the statutue of limitations in your state? Are you kidding 400k in a year? I seriously doubt this at fault party has that much in coverage...What are their BI policy limits? Let's start with those questions first.
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Lori
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| Posted: Thu Oct 23, 2008 1:02 am Post subject: |
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Yeah...400K in a year...hmm...I might want to hire you.
Pray the other driver has an umbrella policy.
I'm with Lori...need to find out more details.
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LifeIsGood
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| Posted: Thu Oct 23, 2008 4:32 am Post subject: |
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Yes, their carrier is Allstate. The statutue of limitations in New Mexico is 3 yrs and their min legal requirements are higher than my state. The BI policy limit is 50k I think. The actual first year amount is $442,859.
Also, the adjuster recently stated this is a hard hit as if this were new news. I was willing to negotiate but I'm beginning to think it will be more effective if I just sue. |
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magda
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| Posted: Thu Oct 23, 2008 4:48 am Post subject: |
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| I negotiated low fees/costs on the car rental, hotel, & some of the medical. I was thinking if I keep their costs down I will get a fair settlement or is that just foolish thinking? |
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magda
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| Posted: Thu Oct 23, 2008 5:49 am Post subject: |
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Maybe we are all missing something... maybe it's just me but...
You have been treating for 2 1/5 years and have loss wages in the amount of $400k per year (so that is 1 million over the course of 2 1/2 years) and the other person's limits are $50k?
First, I'm not buy into any of those numbers and second, if they were correct then Allstate should have just offered up those limits 6 months into this loss. Your wondering what do do when, using your figures, you have a 1 to 2 million dollar loss and the other person's limits are $50k? Sorry, nothing adds up in this thread. |
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tcope
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| Posted: Thu Oct 23, 2008 6:00 am Post subject: |
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Hey magda, you may not receive more than the policy limit of the other driver. Yeah, it true, even if you sue the other party and win a judgement against him/her it would not ensure that you will receive the compensation worth of the damages. If the other party has no assets to protect getting the judgement may not even worth the amount of time and money invested in achieving it.
However, consulting the atty may not be a bad idea.
~Jeremy |
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JeremyHolter
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| Posted: Thu Oct 23, 2008 9:17 am Post subject: |
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| Quote: | | The BI policy limit is 50k I think |
Then that is the absolute MAX you can possibly hope to get PERIOD....sue away, get an atty, but 50k is all you're getting.
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Last edited by Lori on Thu Oct 23, 2008 9:32 am |
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Lori
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| Posted: Thu Oct 23, 2008 9:19 am Post subject: |
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| Quote: | | I have calculated $400k in known lost commissions in just the first year |
Sorry, I forgot something...Mrs. Magda, that is a very nice dress you are wearing.....are you hiring?
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Thu Oct 23, 2008 2:30 pm Post subject: |
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Hell, if she makes 400K in commission every year, I want her working for me. She can keep the money - Give me the production credit!!!!!!!!
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LifeIsGood
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| Posted: Thu Oct 23, 2008 11:57 pm Post subject: |
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| I want to know if she is willing to take me under her wing and teach me the ropes. I figure with that kind of money she ought to have been able to bank some serious dough so why not hire an atty..just to ask her questions and amuse herself. |
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fireyone
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