I should probably give more details, though I don't know if it would change the answer. We moved out of a house. A person agreed to do a lease to buy of our home. He defaulted. On purpose it seems as it was later discovered he was a criminal. He sued us for breach of contract. We counter-sued. We won and the judge made him pay for missed rent, attorney fees,etc. A collection firm attempted to collect the debt for the last 10 years. He would pay $100 every now and then. There is still the majority of it owed. The collection firm notified that after 10 years, we can renew the collection efforts. I'm trying to figure out if it's worth it to keep trying to collect, or if there is something I could do on my taxes, now that this has essentially become a worthless bad debt loss. Non-business.
