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What are Collateral Bail Bonds? Tips from a Delaware Bail Agent
In our day and age there is an insurmountable amount of information out there about bail bonds, the process and what options may be available to you. Today we are going to clarify a very common type of bail bond referred to as a Collateral Bail Bond and the benefit of this type of bail bond.
What do they mean by Collateral?
Collateral refers to a physical object or belonging of value that can be used in addition or in place of money. So what can be used as collateral? Most bail bond agencies accept a variety of belongings as collateral such as cars or recreational vehicles, boats or machinery. Immovable belongings like your home, land or property. Jewelry is another common item used for collateral as well as a variety of electronics including but not limited to t.v.’s, stereo systems, gaming consoles or smartphones. In some areas bail bond agencies will even accept livestock as collateral.
Why use a Collateral Bail Bond?
Because a collateral bail bond uses the value of something you already own this can be a good option if you don’t have the resources to cover the cost of posting bail out of your own pocket. It can also be beneficial if you can cover a portion of the bail but need more to cover the complete cost. Choosing a collateral bail bond can be a good option if you’re tight on cash but need to get your friend or loved one out of jail quickly.
While most bail bond agencies accept various forms of collateral it’s important to discuss with your bail bondsmen what type of collateral they’ll accept. If your friend or loved one has been arrested and you have questions about collateral bail bonds or the bail process contact us immediately!