Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. Your insurance company is going to settle this in all likelihood. The punitive damage threat is just that....an effort for a higher settlement. But, unless you were far in excess of the legal limit to constitute gross negligence, this isn't going to happen. But, if you were sued and the award was in excess of your insurance coverage, Nevada does allow for wage garnishment. But, garnishment is limited. Title III of the
Consumer Credit Protection Act protects employees by limiting the amount of
earnings that may be garnished in any workweek or pay period to the lesser of
25 percent of disposable earnings or the amount by which disposable earnings
are greater than 30 times the federal minimum hourly wage prescribed by Section
6(a) (1) of the Fair Labor Standards Act of 1938. This limit applies regardless
of how many garnishment orders an employer receives. The federal minimum wage
is currently $7.25 per hour. An employee's
"disposable earnings" is the amount of earnings left after legally
required deductions (e.g., federal, state and local taxes; Social Security;
unemployment insurance; and state employee retirement systems) have been made. Deductions
not required by law (e.g., union dues, health and life insurance, and
charitable contributions) are not subtracted from gross earnings when the
amount of disposable earnings for garnishment purposes is calculated.

Finally, if you have no other assets, you could always file for bankruptcy protection and get this judgment discharged.

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not legal advice. Rather it is simply general information. All states have intricacies in their laws
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