Types of Bail Bond Collateral

Types of Bail Bond CollateralWhen thinking about a bail bond, most people immediately think of money. Currency is certainly a good option for posting bail, but if someone is short on cash, there are other options. Sometimes, you can offer collateral directly to the courts, while other times you may need to work with a bond company. Bond companies charge a fee. But if you can’t afford this fee, you can possibly set up a payment plan, and the collateral can be used as backup. Here are some of the most common forms of collateral used for bail bonds.

Vehicles

Courts will not take a vehicle title to use as collateral for bail, but most bond agents will accept them as collateral for a bond. The value of most used cars will cover the amount for bonds for most nonviolent crimes. Because of this, vehicles are one of the most common forms of collateral used through a bond agent.

Real Estate

In most cases, real estate can be used both in the courts and with a bail bond company for collateral. The property must be registered with the state, and the amount the property is worth must satisfy the cash amount set for bail. If you are posting bail for someone else, offer up your real estate with caution. If the defendant does not show up for their court date, the property will be forfeited to the state or the bond company to satisfy the bail.

Hard Currency

Precious metals such as gold, silver, and platinum will be accepted by many bond companies. These metals hold value, so you don’t need stamped coins. If you have some of these metals in your home, it’s worth asking your bond agent if they might be accepted.

Firearms

Firearms generally hold their value very well. They are a great option for bonds that are not too high. Talk to your bondsman to see if they will accept firearms as collateral.

Stocks

Both retirement accounts and stocks can be used as collateral. If you play the market, you can offer your assets to the bonds agent.

Jewelry

Jewelry can be valuable, and it can serve as collateral in a pinch. You will need to get an appraisal, but it can work.

It’s important to secure bail. Anyone left in jail could worsen their care. Plus, jail is unpleasant, and it’s best to get out as soon as possible. If you have collateral, it can help to persuade a bond agent to post a more risky bond. If you have questions about bond collateral, contact us at Atlantic Bail Bonds today. You can reach us at [phone] or contact us online.