Garnishment Bond in Florida are required by courts before a person’s wages, assets, or bank accounts are garnished to cover a past debt. This action may be from a proprietor attempting to collect past debt or from a judgment holder perfecting their judgment. Garnishing a person’s wages is a serious transaction and Florida courts do not take it lightly. A surety bond protecting the defendant from wrongful garnishments is required before the first cent is withdrawn.
A Garnishment Bond in Florida is only required if the plaintiff seeks to garnish the defendants accounts pre-judgment. Many times the plaintiff will attempt to garnish the defendants account before a judgment is made because there is concern that they will dispose of or conceal assets if notice is given. The bond amount must be for double the amount that the plaintiff seeks to garnish. The addition amount that the bond provides is to cover court costs, legal fees and interest. Garnishing wages is sometimes the only option left available for the plaintiff to recover their money. While the courts recognize the contractual obligation of payment, the surety bond protects the defendant in the event the contractual obligation was already met and the garnishments were unnecessary.
Garnishment bonds cost fluctuates depending on the Florida court presiding over the case and the total amount of money owed. To discuss the surety bond cost in detail, a Jurisco bond expert is available via email or by phone.