Illinois Agreed Judgment of Forfeiture

State:
Multi-State
Control #:
US-01612
Format:
Word; 
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Description

This is an Agreed Judgment for Forfeiture of a vehicle upon which payments have not been made. Any money improperly held by creditor is agreed returned to debtor. Adapt to fit your circumstances.

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FAQ

Provided that where such penalty is not paid and cannot be recovered in the manner aforesaid, the person so bound as surety shall be liable, by order of the Court ordering the recovery of the penalty, to imprisonment in civil jail for a term which may extend to six months.

Bond forfeiture is the enforcement of a guarantee. This can apply to any bond but the best example is the bail bond. Most commonly, bail bonds are forfeited when a defendant misses a court date. The bail bondsman or bondswoman must then pay the outstanding bail.

A person commits the offense of violation of bail bond when he has been admitted to bail for appearance before a court in this State, and incurs a forfeiture of the bail, and wilfully fails to surrender himself within 30 days following the forfeiture of the bail.

A bond acts as a guarantee, rather than a deposit. It's a promise made to the court by a third party, usually a bond company, to pay the bail amount on the defendant's behalf if they fail to attend court or breach another condition of their release.

Bond forfeiture is the enforcement of a guarantee. This can apply to any bond but the best example is the bail bond. Most commonly, bail bonds are forfeited when a defendant misses a court date. The bail bondsman or bondswoman must then pay the outstanding bail.

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Illinois Agreed Judgment of Forfeiture