2007-11-24 08:26:18 · 4 answers · asked by ma39 1 in Business & Finance ➔ Credit
Garnishments are not reported to credit reporting agencies. They will not affect your credit.
2007-11-24 08:28:21 · answer #1 · answered by Stuart 7 · 0⤊ 0⤋
Garnishments are not reported as garnishments - but the first answer is a bit misleading ---- judgements are reported & those in the lending business knows this typically leads to garnishments.
If child support is payroll deducted or child support due to arrearages is garnished is two different things.
A garnishment is typicially as answer #2 states is generally for delinquent child support.
These do hurt. When someone has faulted on child support payments causes lenders to realize this person does not take care of their children --- what kind of risk are they?
There you go.
2007-11-24 11:00:17 · answer #2 · answered by chey_one 3 · 2⤊ 0⤋
garnishment is just the employee taking money out of his check to send off for child support..that does not affect his credit at all..
however....if the person is behind on child support --- (arrears) - that would certainly affect his credit.
2007-11-28 03:13:28 · answer #3 · answered by ★★★ Katharine ♥♥♥♥ 6 · 0⤊ 0⤋
As long as the person that is required to pay the child support is current it will not effect the credit rating. Once there is a judgement entered for arrears, then it can be reported to your credit. I hope this helps. :)
2007-11-24 08:57:08 · answer #4 · answered by joliewallace 1 · 0⤊ 0⤋