Alright 2014 legal team, I've been wondering...
I carry too much liability coverage on my car insurance policy, and I'm wondering how low I can go (while still meeting any state-mandated minimums). I know that if a claim is filed against me and the amount is greater than my coverage, they can theoretically come after my assets. If my assets are less than $10k (car value+student loan money sitting in the bank), but my liabilities are much more than $10k (if my student loan debt was to increase by...oh I don't know, $50k per year 😉), then my net worth is way in the negative. Can I still be stripped of my meager assets?
in before "why, did you just kill someone?"
Edit: And what about future wages/assets?