When you post a bail, you may need to offer collateral in place of cash or in addition to the cash for securing your freedom. If you haven’t had the full amount to pay for your bail or lack money to secure your release, Bail bonds contract will help you. It is the best way to get out of jail affordably until your trial hearings date. To post a bail, you will need to pay a bail amount set by court. If you don’t have sufficient money to pay, you can offer some of your valuable things as collateral to the court or to your bail bonds Redding agent.
Hiring a bail bonds agent is a great way to stay out of jail affordably. In this blog, we’ll learn what is collateral, and what things can be accepted as a collateral by court or a bail bonds agent:
What is collateral ?
Collateral is something that is of value. Collateral can be a home, property, jewelry, stocks, vehicles etc. Bail bond requires you to secure the bond. To secure the bond, collateral serves as a security that the defendant will appear to court on all his trial dates. The collateral you will put up will equal to the bail amount set by the court, not more, not less. You can offer collateral in the form of many things such as jewelry, real estate, cars, stocks, credit cards and other valuable assets .
The collateral is used by your bail bonds agent to provide to court if the defendant flies and doesn’t show up for your trial hearings. Collateral is used or seized by the bail bond agent to recover the bail amount if the defendant doesn’t show up to all scheduled trials.
What can be accepted as a bail collateral? Here are the assets that are accepted as a bail collateral by the court or bail bonds agent:
- Real Estate
A real estate can be a house, or a building or a property. Real estate can be offered as collateral if you don’t have enough money to pay the bail amount.
- Credit Card
If you are running out of cash, credit cards can be used to offer as a collateral for securing the bail bond. In case of insufficient money for bail, you can give some amount as cash or some as collateral to bail bonds Yreka company you have hired.
- Home
Home is also offered as collateral. So, if you plan to shrug off a court’s hearing, your home property will be seized.
- Car or other vehicles
Cars and other vehicles can be used as collateral. If you put up your car as collateral, the authority will hold your car, RV, or other vehicles until you appear in court.
- Jewelry
Jewelries such as diamond and gold are accepted as collateral. All the jewelry you put up as collateral will be kept in a safe location by your bail bonds Red Bluff agent.
Collateral will be returned to you once the case is finished, no matter whether you were found guilty or innocent. In case you violate the bond conditions and don’t show a scheduled trial date, the bail bonds company will use collateral to recover the amount. Violating bond conditions puts you in serious trouble, or a warrant can be issued against you.
