Cost Surety Bond

Typically, a plaintiff planning to file a lawsuit in a state they don’t reside in must post a cost bond first. However, some states require resident plaintiffs to post cost bonds as well, especially if they suspect the reasoning behind the lawsuit. Once you know you’re required to obtain a bond, contact a trusted surety provider who can issue your bond as quickly and securely as possible.

This bond ensures that you pay all litigation expenses you owe after a case is through. Expense examples include deposition fees, court fees, attorney fees, paralegal fees, legal research services, private investigators, record requests, etc.

If you don’t pay all fees associated with pursuing litigation, the court can file a claim on your bond. Your surety will investigate to ensure the claim is legitimate (which it likely is since the court is filing the claim against you). 

If the claim is valid, you will have another chance to pay what you owe. If you don’t, your surety will settle the claim for you. Then you must repay them with interest.

The price of your cost bond will depend on the state. Expect to pay a small percentage of the bond amount required. You may also need to post collateral, depending on the surety provider.

Your premium rate will depend on various factors, including your credit history, financial situation, and the legal action. The more positive these factors are, the less you’ll pay for your bond. Generally, you’ll pay under $500 for a cost bond.