Common Types Of Bail Collateral

In trouble with the law and eligible for bail? Here are the next steps that you should take to post bail, get out of jail ASAP and get back to your job and life while waiting for your court hearing.

First, figure out if you can pay for the full amount of bail outright. If you can’t then try to find ways to come up with the money as soon as possible. If that doesn’t work out, find something you can use as collateral. Lastly, to make your life easier and contact a firm specializing in bail bonds in Greeley Colorado to assist with the bail collateral.

What is bail collateral? Collateral is a deposit of money or property that you give to the bail bonding agent as guarantee in exchange for paying your bail and getting you out of jail. Collateral can come from the defendant or even friends and family. This protects the bail bonding agent from any losses in the event that the defendant fails to appear to their scheduled court hearings. Whether the person is found innocent, the charges are dropped, or person is sentenced, once the case is done the collateral will be returned to you and the bail amount paid will be returned to your appointed bondsman in Greeley Co. Of course, if the defendant or the person who was imprisoned fails to appear during the scheduled court dates and time, the collateral will be seized by the court or the bail bond company. That’s why it is very important to avoid skipping court hearings plus other mistakes when posting bail.

Once you have hired the services of a bail bonds company in Greeley Co to take care of your bail concerns, you can now focus on arranging for your collateral. Here are some common bail collateral items:

1. Real Estate or Property

Any land or home that you or one of your family members or friends owns. Real estate that is mortgaged or indebted to the bank is not acceptable.

2. Vehicles

Car titles or other vehicles and transportation such as boats, motorcycles, trailers etc. can be used as bail collateral as long as it is something you own or is under the name of your assigned friends or family members.

3. Jewelry

Silver, gold and other jewelry items with precious stones can be appraised based on current market value in order to cover the cost of bail.

4. Other Valuables

Firearms, licensed with proper ownership documents can also be accepted as bail collateral subject to the condition of the item.

5. Electronics and Gadgets

Television sets, computers, laptops, video game consoles, and smartphones can also be common bail collateral items.

The good thing is that once you show up diligently to your assigned court dates then the bail money will be returned and you get your collateral back. People need not worry about losing their property and money as long as they follow the proper procedures and processes of bail.

If you are looking for a bondsman in Greeley Colorado who will assist you with your bail collateral needs, Lucky Lucero’s Bail Bonds has been the authority in bail bonds since 1982. We guarantee that our professional bail agents will be there for you 24/7 whenever you need us.

Contact us today!

By | 2019-04-12T16:30:36-06:00 April 12th, 2019|Bail Bonds|