A bail bond is a useful tool for getting someone out of jail while they are awaiting a court date. You can certainly post bail by paying cash, but there are other options for collateral. You can offer some of these directly to the courts, but other times, you will need to offer this collateral to a bail bond company.
All bail bond companies charge a fee. If you can’t afford the fee, some will allow you to set up a payment plan and use collateral as a backup. Take a look at these common forms of collateral used for bail bonds.
Sometimes, courts will accept real estate for collateral. Real estate can also be used with bond companies. Keep in mind that the property must be registered with the state. The amount the property is worth must also satisfy the amount set for bail. Use caution if you are offering up your property to post bail for someone else. The property will be forfeited to the state or bond company if the defendant doesn’t show up for their court date.
Vehicles can’t be used for collateral with the courts, but many bond agents accept them. Vehicles are a very common form of collateral. This is because the value of most used cars will satisfy the bail amount for most nonviolent crimes.
Because firearms tend to hold their value well, they can often work for collateral. Ask your bond agent if they will accept firearms for bonds that are not set too high.
Gold, silver, and platinum are often accepted by bond companies as collateral. These metals themselves hold value, so you don’t need stamped coins. Talk to your bond agent about the possibility of accepting hard currency as collateral if you have some at your home.
Just as with hard currency, jewelry can hold great value. Know that you will need to get an appraisal, but it can serve as collateral when needed.
If you like to play the market, you can offer these assets to your bond agent. Retirement accounts and stocks can both be used as collateral.
Anyone left in jail can worsen their case. Jail is also not a very pleasant place, so it’s important to secure bail as soon as possible. If you have any of the items listed above for collateral, you can offer them to help persuade the bond agent to post a more risky bond. If you have anything else of value, it never hurts to ask if it might be accepted.
Curious about what might be accepted for collateral? Contact us at Freedom Bail Bonds for more information.