jackfrost11770
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Simple English definitions for legal terms
unsatisfied-judgment fund
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A quick definition of unsatisfied-judgment fund:
An unsatisfied-judgment fund is a special pot of money set up by a state to help people who have been in a car accident caused by someone who doesn't have enough insurance to pay for the damages. If you have been in an accident and the other driver doesn't have enough insurance, you can apply to this fund for help. It's like a safety net for people who are hurt in accidents and need help paying for their medical bills and car repairs.
A more thorough explanation:
An unsatisfied-judgment fund is a type of fund established by a state to compensate individuals who have suffered losses due to an automobile accident caused by an uninsured or underinsured motorist. This fund is meant to provide financial assistance to those who have been unable to recover damages from the responsible party.
For example, if someone is involved in a car accident and the other driver is uninsured, the victim may be able to receive compensation from the unsatisfied-judgment fund. This fund can help cover medical expenses, lost wages, and other damages resulting from the accident.