Mortgage underwriters normally want documentation attached to the letter of explanation. For example, a letter of explanation may be required if a mortgage loan borrower had a substantial low income one year from the previous year and had a late payment history for three months.
Wage garnishment by itself will not damage your credit...and the fact that your wages are being garnishment will not be noted on your credit report....However, the judgment that led to the garnishment (if they report it) will affect your credit rating...and the original default of your credit card will also still damage your credit rating.
However, the garnishment... show more My wages are being garnished for an old credit card account. I've been researching trying to figure out exactly how it will affect me. I've saw so many different answers, its confusing. The general understanding that I'm getting is that it will hurt my credit score and report. However, the garnishment... show more My wages are being garnished for an old credit card account. I've been researching trying to figure out exactly how it will affect me.