How does a wage garnishment affect my credit score?

@augustus.ziemann 

A wage garnishment can have a negative impact on your credit score. When a creditor obtains a court order to garnish your wages, that information is typically reported to the credit bureaus. This can result in a notation on your credit report indicating that you have a wage garnishment.

Having a wage garnishment on your credit report signals to lenders that you have not been able to meet your financial obligations and may indicate a higher level of risk to potential creditors. As a result, your credit score may decrease, making it more difficult for you to obtain credit in the future and potentially resulting in higher interest rates on loans or credit cards.

However, it's important to note that a wage garnishment itself is not directly factored into your credit score by the credit bureaus. The actual impact on your credit score will depend on the overall status of your credit history and the specific algorithms used by each credit bureau to calculate the score. Other factors such as missed payments, high credit utilization, or having a large amount of debt can also contribute to a decrease in your credit score.