A garnishment bond is a generally a post-judgment mechanism (although garnishment can be ordered as a prejudgment remedy) which indemnifies the garnished or attached person or entity if the garnishment is later determined to be improper. Also referred to as a garnishee bond, this type of judicial surety bond covers specifically seized wages or property. Garnishment is a legal process through which a creditor can collect a debt from a debtor by obtaining a court order to seize a portion of the debtor's wages, bank accounts, or other assets.
In some cases, a debtor might seek to temporarily stop or "stay" the garnishment process by posting a counter-garnishment bond. This bond serves as a form of security for the CREDITOR instead of the debtor, ensuring that if the court ultimately decides in favor of the creditor, they will have a source of funds to recover the owed debt.
A garnishment bond is purchased from a surety bond company. licensed in the jurisdiction and issued by an attorney-in-fact of th surety, approved by the court. Local court rules apply therefore, it's important to note that the specifics of garnishment laws and regulations can vary. We offer no legal advice so an applicant should consult with a legal professional familiar with local laws dealing with a garnishments.
A garnishment bond must be issued by a surety company with a current certificate of authority n the jurisdiction wherein the action is filed. Quoting a garnishment or counter-garnishment bond is accomplished by a surety bond underwriter with knowledge of judicial bond obligations. Surety bond leader, Surety One, Inc. specializes in surety bonds for federal, state and local trial courts, tribal courts and courts of appeals. Application submissions are reviewed and responded to within one hour of receipt. We are the most agile court bond underwriter in the United States. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for a live chat with an underwriter for further information or to discuss your writ of garnishment bond or other litigation surety need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.