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A release of attachment bond, also known as a discharge attachment bond, is a type of surety bond used in court cases to counter an attachment bond. When a creditor posts an attachment bond to seize property or money of a defendant, the defendant can obtain a release of attachement bond in order to regain possession of his or her belongings that were seized. This type of surety bond is allowed in civil court cases where money or property is owed by the defendant to a plaintiff. Issuing a release of attachment bond gives the court a guarantee that the debtor has the financial capabilities to repay the debt if the court decides in favor of the creditor.
The cost of a release of attachment bond varies based on state regulations. Each state has its own process for deciding the amount of coverage necessary for a release of attachment bond but typically the debt owed to the creditor will play a significant role in deciding the total bond cost. The person requesting the bond will only pay a portion of the total bond amount, known as the bond premium. Typically the bond premium is between 1-4% of the total bond cost. Different things come into play when it comes to getting approved for a low rate but most importantly the client’s personal credit score will play a major role in locking in low market rates for release of attachment bonds.
A release of attachment bond is the best way for a defendant to regain control of his or her property or money when dealing with a civil lawsuit. This type of surety bond can legally stop a creditor from having said property or money tied up in litigation while also providing a guarantee to the creditor that if all claims of debt are revealed to be true, all debts will be paid by the defendant. The repayment of debt specifications can vary based on the requirements of the release of attachment bond in that state in which it was obtained.
Bonding Solutions is a leading, national surety agency specializing in all court bonds, including release of attachment bonds. Whether you are ready to apply for the release of attachment bond or you have more clarifying questions, our team is here to help. We provide fast approval and affordable rates for court bonds so you can get your release of attachment bond quickly and avoid having your property taken from you and held up in litigation. Our surety agents provide customized bond services to ensure you are getting the exact bond necessary for your personal business.
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