Whitehouse, TX Bankruptcy Law Firms & Lawyers

It depends. If there is any finding that the there was some intention in the accident, the insurance companies may be able to file a complaint for the Court to rule their claims non-dischargeable. If there was no intention or gross negligence, for example, it is likely that it would be discharged along with all other debts. However, that does not happen automatically and the insurance companies need to make a cost-benefit analysis to figure out if it is worthwhile to pursue such a complaint as it involves retaining an attorney and going all the way through trial if you defend, which can be quite expensive for everyone involved. It most likely would cost more than $14,600 and then the creditor has to worry about whether such judgment can be collected from you.

It really depends on whether the debt is yours solely, or are your parents cosigners, named on any credit cards, or any other arrangement where your parents agree to guarantee the loan. A loan is a contract where one party agrees to give money at a certain time, and the other party agrees to repay the loan at a later date.  The contract can only involve the parties in interest.  As such, a creditor can only collect from the party or parties that acquire the debt.  If your parents were involved in the acquiring of the debt, then they may be held responsible for repayment.  If your parents did not help in acquiring the debt then they should not be help responsible.   This is not intended to be legal advice, and is general in its nature.  No attorney-client relationship exists or is formed by this information.  Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.