Illinois Garnishment Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
An Illinois garnishment court order allows you as plaintiff, before the conclusion of the case, (that is, prejudgment) to seize the assets, wages, or accounts of the defendant.
The garnished items, however, are not to be held by you; rather, they are to be held by a third party.
A condition of the garnishment order taking effect is that you obtain a surety bond. According to Illinois state law, the amount must be at least twice the value of the items to be garnished.
While you (or, for legal counsel, your client) is required to obtain the garnishment surety bond, its benefit is for the defendant in case the court later determines that the garnishment should not have been granted.
If such is the case, the harm and damage have already occurred. And by means of the garnishment surety bond the defendant would be guaranteed financial recompense for the harm caused.
Qualifying and the Premium
The Illinois plaintiff’s garnishment bond is offered to you in almost any amount. Up to a $100,000 surety bond requirement, we also provide this bond without a credit check inquiry.
A garnishment bond greater than $100,000 is subject to further review of your application by a surety bond underwriter.
As standard procedure, this review includes a credit check; good credit is required for approval.
At these higher amounts, you may also be requested to either provide documentation or clarification of information as a condition of approval.
For an Illinois garnishment bond in any amount, our agency will need the following from you:
- A copy of the Illinois garnishment bond order;
- A completed surety bond application. The application can typically be completed via Docusign. This will allow you to complete, sign, and return the application to our agency electronically.
- Upon approval of your garnishment bond, payment of the premium
Issuing Your Surety Bond; Filing
Your garnishment surety bond is issued to you immediately upon payment of the premium. Included with your surety bond will be a Power of Attorney form.
These items will be mailed to you. Upon receipt by mail, you’ll sign your bond as Principal.
Along with your POA form, you or legal counsel will see to it that these documents are filed with the presiding Illinois court.
Annual Renewal of the Premium
Premiums paid are earned in full; refunds are not offered.
The premium for your garnishment bond is subject to annual renewals on the anniversary of your bond’s issuance for as long as the court requires surety.
AmeriPro Surety Bonds is a surety bond only agency which provides license and permit, court, probate, and other surety bonds in Illinois and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…