If you’re having trouble covering the cost of a bail bond with cash, consider using collateral.
Many people looking to post bail don’t realize that cash isn’t the only option. They either don’t realize they can post alternative collateral or don’t know what they can use as collateral. This means that they, or someone they care about, remain in jail when they don’t have to.
In this article, we discuss what you can use as bail bond collateral to get out of jail. Continue reading to learn more about your options.
Cash or Credit Cards
Cash is the best and preferred option when paying a bail bond. In some cases, the judge may require a cash-only bond. This means the bond has to be paid in cash.
A judge may order this type of bond if they believe the defendant is a possible flight risk. However, if the bond is not cash-only, you have other options. Some bail bonds can be paid using a credit card instead of cash.
Real estate is one of the most common forms of bail bond collateral. It includes houses, buildings, land, and even livestock.
A bail bond company will research any property submitted as bail collateral. They will make sure it is free of any liens and has sufficient equity to cover the bond.
To successfully post real estate as collateral, you may need a deed, mortgage statement, appraisal, or title search. This helps confirm ownership and value.
Vehicles are another common form of bail bond collateral. The term vehicles doesn’t only include cars, trucks, and SUVs. It also includes watercrafts such as boats and jet skis as well as other forms of transportation vehicles.
To successfully use a vehicle as collateral, it’s a good idea to have knowledge of its value. In some cases, you might need to present the deed in trust until court obligations are met. If court obligations aren’t met, the bail bondsman will sell your vehicle to cover the bail bond cost.
If you have high-priced jewelry such as gold, diamonds, or other precious gems and metals, you can use these as bail bond collateral. However, jewelry is sometimes difficult to use.
Obtaining an accurate value of gems and fine metals requires more work than other forms of collateral. Some bond companies may require a professional appraisal while others may suggest pawning the jewelry for cash.
If they do accept your jewelry, the bail bond agency will take temporary possession of your jewelry. If you meet court requirements, it will be returned to you.
If you don’t have any of the above-mentioned items to meet the bail bond cost, you still have other options such as pawning. If you have valuable items to be pawned, the money can be used to satisfy bail collateral.
These types of items include possessions such as firearms, electronics, and antiques. You may have to present multiple items to satisfy the amount of the bail bond.
If you aren’t sure about this process, search “bail bonds near me” to find out more from specific companies.
Be Prepared for Bail Bond Collateral
Finding the funds for bail bond collateral can be overwhelming in an already stressful situation, especially if you don’t have cash available. Looking at options beyond cash can help alleviate this stress.
Contact us today to work with one of our fully licensed bail bondsmen who can answer all of your questions about your bail bond.