Can my credit card debt from 1996 still be collected?
I'm assuming that the creditor obtained a judgment in its favor. In New York, a judgment can be collected for 20 years from the date of the judgment entry, and then renewed thereafter. Once a judgment is obtained, it's typically too late to attempt to negotiate a reduced
settlement. A judgment debtor will have to pay the judgment or file bankruptcy to have the judgment voided.
The creditor may put a lien on your property, or attach assets, such as bank accounts, or garnish wages. Certain property is exempt from creditors' claims. Please see the information at the link below for property which is exempt from being taken by the bankruptcy court to pay