MN judgement / line of credit ?

[1fastcat800]

I have a judgement that is filed from many years ago and renewed last year so it is now 11 years old. Lawyers are constantly sending me garnishment summons even though I have been retired for 6 years and only have Social Security as income. The last finanical disclosure form they sent was about two years ago. I know they can'y touch my SS. If I get a reverse mortgage that pays off my existing balance of $130K and a line of credit for aprox $50K can the lawyers gain access to my line of credit to satisfy the $8K judgement? I plan to use the credit line to pay off a negotiated settlement on the judgement as the original amount was about $3K. Will the line of credit show up on my credit report? Can they access it?

 

[adjusterjack]

If I get a reverse mortgage that pays off my existing balance of $130K and a line of credit for aprox $50K can the lawyers gain access to my line of credit to satisfy the $8K judgement?

I doubt that they can do that any more than they can go to your credit card company and get cash from your credit line.

I plan to use the credit line to pay off a negotiated settlement on the judgement as the original amount was about $3K. Will the line of credit show up on my credit report?

Yes.

Can they access it?

Your credit report?

Yes.