Hello,
I have a family member who was recently in a car accident. They are at fault in the accident and their insurance had lapsed 2 weeks prior to the accident. They are employed, but currently not working due to a degenerative injury prior to the accident, and it is unclear if they are going to be able to go back to work in the near future, if at all. She has no savings and no real assests, and her car was written off in the accident.
I have 2 major questions at this time;
1. Is it unreasonable to offer to pay off the damage debt to the other vehicle at $50/month? My family member has very little income right now.
2. I am looking at buying her a new car as she can't pay for one herself. Will this be an issue when it comes to the insurance company seeks payment for the damage? My family member has had a very hard time over the past 12 months with the death of her partner, as well as her injury and being forced from her home. I am looking at buying her a brand new car to help to get her life back on track. I am concerned that an asset of a $17,500 car might cause problems with the insurance company when she can't pay for the damage to the other car.
Any advice you can give me would be greatly appreciated.
I have a family member who was recently in a car accident. They are at fault in the accident and their insurance had lapsed 2 weeks prior to the accident. They are employed, but currently not working due to a degenerative injury prior to the accident, and it is unclear if they are going to be able to go back to work in the near future, if at all. She has no savings and no real assests, and her car was written off in the accident.
I have 2 major questions at this time;
1. Is it unreasonable to offer to pay off the damage debt to the other vehicle at $50/month? My family member has very little income right now.
2. I am looking at buying her a new car as she can't pay for one herself. Will this be an issue when it comes to the insurance company seeks payment for the damage? My family member has had a very hard time over the past 12 months with the death of her partner, as well as her injury and being forced from her home. I am looking at buying her a brand new car to help to get her life back on track. I am concerned that an asset of a $17,500 car might cause problems with the insurance company when she can't pay for the damage to the other car.
Any advice you can give me would be greatly appreciated.