Paying for a Bail Bond: Things you can Use as Collateral

Don’t have enough cash to pay a bail bond in full? There are other options – collateral.    

Unless you have plenty of personal resources, you need other forms of payment to get a bail bond agency sign up with you. Verbal promises are not acceptable. You need to turn over some of the precious things you may have.

Collateral comes in different types. Find out what Delaware bail guidelines entail and discover what those forms are accepted.

Accepted Collateral for Bail Bonds

1.    Bank Account / Credit Card

In time comes you run out of cash, offer your bank account balance. Credit cards can also be utilized to secure bail bonds Newark Ohio. Authorization forms are used to give a bail bond company a permission to run the card for the penal amount of the bail bond, if the defendant fails to appear in court.

2.    Real State

A real state can be a house or a building in any kind. A piece of land or natural resources such as livestock and crops are also called real state. You can use these forms of property as collateral for your bond. Your family and friends can also offer their own real estate holdings to be used as collateral if you don’t have one.

3.    Cars / Vehicle

Most bail bond companies in Middletown, Georgetown and other cities of Delaware accept titled car or vehicle as a form of collateral. The bail bondsmen won’t take your car away from you; they will just hold the title. It will be seized and sold once the defendant won’t show up to the court.

4.    Home / Land

Bail bonds in Lewes Delaware allow you to offer your home or the land you own as collateral. The agency will take the property on hold but still, everything belongs to you in its entirety. However, if the arrested individual cannot be seen on the court dates, everything could be lost.

5.    Pawnable Items

Pawnable items or belongings involve many things. It can be antique furniture, electronics, gaming systems, tools and equipment, and many others. As long as your items can secure your bail, they’re good to go in Dover and other cities nearby. All your pawnable belongings will be held to the bail bond company.

6.    Jewelry

Jewelry can also be pawned but most of them can be sold at high prices such as gold and diamonds. You can put up a couple pieces of jewelry as collateral instead of the usable items you have. Bridgeville bail agent will take the jewelry from you and secure it in a safe place.

What is really a Collateral?

Collateral is something of value used as an alternative or addition to paying cash. Generally, it is a type of credit or loan which allows you to get your collateral back as long as the defendant show up during the hearing dates. If the person fails, everything will be forfeited and seized.

Collaterals can also be considered as security to guarantee a specific obligation and secure your arrangements with a bail agent. The amount of the collateral has to reach a certain amount in value to cover the remaining bail when the defendant skips out.

How Collateral Works in Delaware

In the law of Seaford Delaware and other cities, any sort of collateral provided is added to the premium amount paid and is fully refundable. The collateral will only be returned if the arrested person attended the hearing without anything missed.  Unfortunately, you won’t get the premium back.

Collateral is commonly provided for:

• Defendants who live out of state
• Defendants who have excessive appearance failures
• Defendants that will likely be sentenced to prison

Whatever the collateral that the Milford bail bond agency accepts, they are required to secure it in a safe place and return it back to the original person who pledged it without damage.

Wrapping Up

Collaterals can be a good option to help someone out the jail fast. But there is one thing you need to keep in mind – anything you put up for the bond will be placed in the agent’s hands and could be disappeared anytime.

No matter what types of collateral a bail bond agency might accept, you will need to face two things – risk everything you own or get someone out the jail.

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