Written installment agreement

Written installment agreement. (1) For the purpose of s. 344.14 (2) (h) or 344.25 (2) , Stats., a written agreement providing for payment in installments of an agreed amount for all claims for injury or damage resulting from the accident shall contain all of the following: (a) A promise by the uninsured person to pay an amount of money or to transfer ownership of something that has money value to an injured party as settlement for all claims by the party for damages or injuries arising out of the accident. (b) The date of the first installment payment, the frequency of payments if payments are to be made other than on a monthly basis, and the calculated date final payment is due under the payment plan. (c) The notarized or duly acknowledged signature of the uninsured operator or owner making the payments. If that person is less than 18 years of age, a parent or sponsor under s. 343.15 , Stats., shall co-sign the installment agreement as a person responsible for making the payments, or a legally appointed guardian may sign on behalf of the minor pursuant to court authorization of their signing the agreement as guardian. (d) The witnessed signatures of all other parties in the installment agreement. (e) The names and addresses of all parties to the agreement. (f) If an injured party to the agreement is less than 18 years old and the amount of deposit required by the department under s. 344.13 , Stats., does not exceed $5,000, the witnessed or acknowledged signature of the injured party’s parent or legal guardian, and if any personal injury to the injured party occurred, a doctor’s certification that the injury is not permanent. (g) If an injured party to the agreement is less than 18 years old and the amount of deposit required by the department under s. 344.13 , Stats., exceeds $5,000, or a doctor’s certification that the injury is not permanent is not filed with the department, a guardian’s signature in his or her capacity as guardian is required, together with a court order authorizing the guardian for the injured party to enter into the agreement. (h) If an injured party to the agreement is incompetent, a guardian’s signature in his or her capacity as guardian is required, together with a court order authorizing the guardian for the injured party to enter into the agreement. (i) A statement as to whether the claim is for injury to property, injury to a person, or injury to a combination of persons or property, and that upon payment of the appropriate amount specified in s. Trans 100.18 (1) (f) to (i) , the judgment creditor shall report the judgment as “satisfied for purposes of s. 344.26 (3) , Stats.,” to the division of motor vehicles. (2) An amended agreement shall be accepted if the original agreement filed is valid, the amended agreement is signed by all parties to the original agreement, and any required court approval under sub. (1) (g) is filed. Parties who have released their claims prior to the amendment may not be required to join in any amendment. (3) Notwithstanding s. 344.18 (3) , Stats., a person who has been released from liability for debts arising from an accident may not be subjected to operating privilege or motor vehicle registration suspension based upon a default in a written installment agreement for the liability that has been released. (4) A person may not reinstate his or her operating privilege upon filing a written installment agreement if the person’s operating privilege has been suspended for failure to comply with a court-ordered installment plan under s. 344.27 (3) , Stats., until the case is resolved under s. Trans 100.18 .