Michigan Garnishment Bond |
AmeriPro Surety Bonds | 844-589-9732
Surety Bond Required of A Plaintiff
A Michigan garnishment surety bond allows a Plaintiff to lawfully seize the property, assets, or accounts of a Defendant in a civil proceeding.
The difference between a garnishment and an attachment is that while the former also allows you to sequester those assets, those assets in turn are held by a third party; an attachment allows the Plaintiff to take possession of the property.
A condition of the garnishment taking effect is that you as Plaintiff obtain a surety bond in the amount that the Michigan court requires.
According to Michigan garnishment law, the amount of the bond should be twice the value of the amount alleged in your complaint.
Purpose of the MI Garnishment Surety Bond
While the garnishment surety bond is required of the Plaintiff, the benefit is for the Defendant for any loss or harm caused if the court subsequently determines that the garnishment order was wrongly issued.
Qualifying and the Premium
Our agency can provide you with a Michigan garnishment bond in the amount that the court orders. Up to a $100,000 surety bond requirement, we also do so without a credit check inquiry.
A garnishment surety bond order greater than $100,000, is subject to further underwriting review by a surety bond underwriter. This process will include a credit check; and, to be approved, good credit will be required.
For any garnishment bond court requirement in Michigan, our agency will need the following from you:
- A copy of the Michigan court order stating that a garnishment surety bond is required, along with the amount stated;
- A completed surety bond application. Typically, our agency will provide a Docusign application to you. This will allow you to complete, sign, and return the application to our agency electronically;
- Review of your completed application;
- Upon approval, payment of the premium
Issuing Your Garnishment Bond; Filing
Our agency issues your garnishment bond immediately upon payment of the premium. Included with your bond will be a Power of Attorney form.
Upon receipt by mail, you’ll sign your bond as Principal, thereafter filing it along with the POA form included to the presiding court.
Our agency will not need a copy of your filed surety bond.
The premium for your garnishment bond is subject to annual renewals for as long as the court requires surety. The bond’s renewal date is the anniversary of its issuance.
Premiums paid are earned in full and are not subject to refunds.
About Our Agency
AmeriPro Surety Bonds is a surety bonds-only agency. We provide non-construction contract surety bonds, license and permit, court, probate and other surety bonds in Michigan and all 50 states.
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