A fact doesn't need to be usable as evidence in court to be usable for blackmail.
Anything that can make your life harder will do. They can find something that:
- will put a you in a difficult position with friends and family
- break trust in a business relationship
- destroy your reputation in regard of the public
- trigger costly investigations from a 3rd party
- pressure you and take your energy, moral, money, time and health in the process