Tuesday, February 23, 2016

What Collateral Should You Use for Jail Bail Bonds

When you are arrested and charged with a crime, the judge will often establish bail. If you post or make bail, you will be able to get out of jail to continue working and living at home with your family until your scheduled court date. However, bail is often expensive, and you may not have enough cash on hand to pay the bail amount in full. Bail bonds are often used for this purpose.
With a bail bond, you pledge collateral or assets in exchange for a bond that is used for your bail. You typically will work with a bail bondsman, and the bondsman may help you to determine which assets you have that could be used for collateral.

Real estate is the most common type of asset that is used, but other things such as a car, a boat, firearms or even computers and gaming systems that are of value can be used in some cases. Each case is unique, and each bail bondsman service is unique, so you may need to contact the right service provider to assist you if you need to use more creative forms of collateral to post your bail.

Keep in mind that friends or family members may also assist you with the purchase of a surety bond. Therefore, if you do not have collateral available, they may be able to place a down payment on the bond for you so that you can get out of jail for the time being.

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