I am being sued for a very old credit card debt that was charged off years ago. I am judgement proof as I live on disability benefits and state funds, energy assistance, food stamps, etc. About 4 years ago I obtained a new credit card with about a $3000.00 limit. I use it only for emergengies ( my SUV is 19 years old) My question is this. Can a Judge or the bill collector force me to hand over all the funds I have in my new credit card account to pay back this old charged off debt??
Answer
In Minnesota, the statute of limitations on a breach of contract claims is 6 years. Depending on when you defaulted, you could have a defense to the action. You should have an attorney review to see if you can bring a motion to dismiss. If they did obtain a judgment against you, they would be unable to get at the credit card because credit is not actually funds they can levy to satisfy a judgment. They could, however, attempt to get at bank accounts and other assets, although it sounds like what you have and receive is likely exempt from collections.
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