Wednesday, April 22, 2015

Collateral for Bail Bonds

In the event that you get arrested and have to spend time in jail, there are some ways that you can temporarily get out so that you can be with your family and plan your defense with a lawyer if necessary. Bail bond agents in Los Angeles speak with families who might be worried for their loved ones in jail and may not have a lot of money to pay the entire bond amount. Fortunately, most bail bonds offices are open 24 hours a day, seven days a week for those who need assistance.

There are a few things that can be used as collateral if the family doesn't have all of the money for the bond. Collateral is something that is used instead of the bail money, or it can be used in addition to the money put up for bail. This could be viewed as some type of credit to get the person out of jail before the court date. Common items that are used for collateral include a home, car, or assets of considerable value. Most companies will require a certain amount of the bond to be paid before signing the paperwork for the person to be released from jail. This amount is normally at least 10% of the bond. In many circumstances, the decision is left to the bail bondsman as to whether any collateral is needed for bail.

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