Credit inquiries in a mortgage loan applicantâs credit report in the past 120 days will require letter of explanations for every credit inquiry. If you have ten credit inquiries from mortgage companies, all you need to write on the lox is that you are shopping for mortgage. A one sentence letter of explanation will do.
Garnishment is a court-ordered technique of debt collection in which a debtor's paycheck or other income is taken and paid to a creditor or a court until a debt is paid in full. In the case of wage garnishment, the court may order a series of payments deducted by a set amount from a debtor's paycheck.
New Mexico Garnishment: What you need to know. 1  A garnishment is an order of a court to an employer to withhold a sum of money from an employee's earnings to satisfy the employee's debt to a third party. A valid garnishment legally obligates an employer to withhold monies from an employee's wages, subject to certain maximums.