Can Collateral Be Used for a Bail Bond?
When it comes to resolving a bond or getting someone you know out of jail on a bail bond, it can be challenging to see just what you need to use to satisfy the bond. While cash is the most common thing used for a bail bond, you can use other forms of collateral.
What Types of Collateral Can Be Used for a Bail Bond?
Cash is the first and most common thing used to satisfy a bail bond. With cash, you often pay a portion of the bond when you get your family or friend released from jail, then pay the remainder of the bail if the case is not resolved in court.
Though cash is the most common and most universal thing to use for a bail bond, you can also use other forms of payment to help satisfy the bond. You can put your home up as collateral for very large bonds. You can use a vacation home, rental properties, jewelry, recreational vehicles and more. To use a piece of property or a piece of collateral rather than cash, you must be the property owner, and you must be able to prove that you are the owner.
When it comes to using collateral, it can be rather tricky. Say, for instance, that you are going to use your home as collateral for a bond and the person that you are paying the bond for absconds and does not come to court or their case is not resolved. If the person absconds or cannot resolve the issue in court, most bail bond companies will give the option to pay the bond in cash rather than using the collateral.
In some cases, however, you can lose the collateral you put up, be kicked out of your home, have your vehicle seized, and more. Suppose you are using collateral rather than cash. In that case, it is essential that you are either working on getting the money for the bond in case something goes amiss or that you are sure the offender will be able to get to court and resolve their case.
With any bail bond, it is always a good idea to take a moment before you agree to pay a bond or before you agree to be part of the bail bond process for that particular person. It can be difficult to figure out what you want to put up as collateral, and getting your bail bond going can be challenging. With the help of a great bail bond company, you can get any bail bond taken care of.
At Free at Last Bail Bonds, we understand the importance and urgency of reuniting families. If you or a loved one needs our services, we are here for you 24 hours a day at 470-410-3409.