When a creditor sues a debtor to secure possession of a property they believe they have legal right to, often times an Attachment Bond or Replevin Bond is required by the creditor. A bond is required to ensure that the debtor will receive back their property if the court finds in favor of the debtor, or if the property should not have been seized.

Though Attachment Bonds and Replevin Bonds are the most common, there is another type of bond that can come into play in scenarios involving the seizure of a property: Sequestration Bonds.

A creditor is an individual who is owed money. There are different types of creditors. Petitioning creditors are parties who are owed money from a debtor and who apply to the court of bankruptcy in order to secure a debtor’s property and distribute it equally among them all.

Under certain circumstances, petitioning creditors can force a debtor into bankruptcy without his/her consent. This is called an involuntary bankruptcy petition. When an involuntary bankruptcy petition is filed, a receiver or trustee is appointed to take charge of the debtor’s property until the case is judged. Receivers and trustees who are appointed to do this often must furnish a Petitioning Creditor’s Bond.

Garnishment is the legal process that allows creditors to take money or property of a debtor to pay for a judgement. The most commonly garnished property is future wages and bank accounts. In garnishment, if there is a 3^rd party that holds the debtor’s property they are referred to as the garnishee. For example, in a wage garnishment, the debtor’s employer would be the garnishee and in a bank account garnishment, the bank would be the garnishee.

Sometimes, before a final judgement is made in a court trial, a plaintiff might want to secure the debtor’s money or property somehow and ensure that once the lawsuit is finalized they will be able to access the debtor’s property, even if held by a third party. A plaintiff ensures this by getting a Garnishment Bond.