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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 theConsumer Credit Protection Act protects employees by limiting the amount ofearnings that may be garnished in any workweek or pay period to the lesser of25 percent of disposable earnings or the amount by which disposable earningsare greater than 30 times the federal minimum hourly wage prescribed by Section6(a) (1) of the Fair Labor Standards Act of 1938. This limit applies regardlessof how many garnishment orders an employer receives. The federal minimum wageis currently $7.25 per hour. An employee's"disposable earnings" is the amount of earnings left after legallyrequired deductions (e.g., federal, state and local taxes; Social Security;unemployment insurance; and state employee retirement systems) have been made. Deductionsnot required by law (e.g., union dues, health and life insurance, andcharitable contributions) are not subtracted from gross earnings when theamount 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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