What Do You Do if The Person Who Hurt You Has No Insurance or Assets?
When you have been hurt by someone and desire compensation, the most common method to receive that compensation is to sue the person in question. However, what do you do if this person appears to have no insurance or assets from which you can be compensated? Unfortunately, there is not really any good answer to this. If someone has no or little income and no or few assets, they are basically “judgement proof.” Even if you should win against such a person in court, you basically end up the loser. Sure, you won a judgement, but now the target of your lawsuit cannot pay. You have spent your time and money, but will receive nothing in return. But things don’t have to end up this way. Over time, people’s circumstances change. A person unemployed today will not necessarily be unemployed forever. A person with few assets may gain more or new assets later on.
Future Assets Can Help
You may be wondering how this can help. Well, you do not have to sue someone immediately. For every potential legal claim, or “cause of action,” there will be a corresponding statute of limitations which sets out the amount of time you have from the cause of action in which you may sue. For many common grounds to sue, it may be 3 to 6 years. Even if you don’t know if you’re going to sue at all, you should still find out how long you have to do so.
Say you have grounds to sue with a 6-year statute of limitations. This means you can wait almost six years before suing. Even if the object of your suit still has nothing to take, there is another statute of limitations to enforce the judgement you have won. This means another period of years, from 5 to 20, in which you can use your lawsuit victory to collect using legal processes. This could extend the time you can collect up to 26 years.
Contact Us for More Information
If you have been hurt by someone with no insurance of assets, that does not mean you will never be made whole. The first thing you should do is to consult an attorney. Contact The Williams Litigation Group and find out what your options are.
Please call us toll free at 866-214-7036 or fill out the contact form on our website. Serving Brunswick, GA and Glynn, Camden, Brantley, Wayne, Ware and McIntosh Counties.