Can my credit card debt from 1996 still be collected?

Full Question:

I had a Visa (credit card) in 1996, it maxed out at $9,900, which I could not pay. In January of 2000, a law firm filled a judgment in New York against me for $23,000 plus accrued interest, lawyer fees, penalties, and etc. Is this still collectible? What recourse do I have?
04/28/2009   |   Category: Debts and Cr... ยป Credit Cards   |   State: New York   |   #16253

Answer:

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
creditors: http://www.bcsalliance.com/debt1_newyork.html