After a court case is concluded and a judgement passed, a defendant may seek to appeal the case in an attempt to clarify, reduce, or overturn the judgement and any associated penalties. During this time, the appellant often wishes to delay payment of the judgement in the hopes that it will be eliminated through a successful appeal. When you obtain an appeal bond in Upper Marlboro during the appeal process, you are providing a surety bond that guarantees to the court that the judgement will be paid if your appeal is not successful.
How Should I Obtain an Appeal Bond?
If you decide to post an appeal bond to delay payment of a judgement, you can obtain one from a surety bond service. Before the bond can be issued, your bonding service may take steps to ensure you are able to pay the amount guaranteed by the appeal bond.
How Do I Pay for an Appeal Bond?
An appeal bond guarantees coverage of not only the total amount you owe for the original judgement, but also any interest that this amount may accrue and additional legal fees charged during the appeal process . Unlike many other types of bonds, appeal bonds must be fully collateralized. Thus, the cost of the surety bond itself is often equal to 100% or more of the judgment to provide the financial guarantee that these expenses will be covered if necessary. You can pay for an appeal bond via a combination of cash or other assets if you wish.
How Long Will My Appeal Bond Last?
Once you have filed your appeal bond, it generally cannot be canceled and will remain in effect until the court releases it following the conclusion of your appeal. This release is not automatic; therefore, it is best to seek a court-ordered release of your surety bond following the conclusion of your case to ensure no further claims can be made against your appeal bond.