A bail bonds company usually requires collateral that acts as a security when they post bail on your behalf. You can offer something of value to support your pledge to appear in court on the determined date. Here is more information about collateral and how it works:
What Is Bail Bond Collateral?
Collateral refers to valuable assets, including a house, a car, or jewelry, that a bond agent accepts. It can be used in place of or in addition to the bail money. This encourages a defendant to fulfill the court’s requirements. If you fail to appear in court for your hearing, a bail agent keeps collateral to cover the bail amount.
Some individuals offer real estate as collateral, which is assessed to make sure its value covers the bail amount. The property deed must also be placed in the bondsman’s trust. A bail agent will collect physical items like jewelry and transfer them to a secure location until the case is completed. Providing an asset as collateral to a bail bonds company may be a condition of posting bail and release.
How Does It Work?
When your case is heard, collateral is placed in the court’s or bail agent’s trust until a judge makes a ruling. This helps minimize risk for the bondsman, as collateral will cover the bail costs if the defendant fails to appear in court. Here are more details about how collateral works:
Setting an Agreement
If you cannot pay the full bail amount the court has set, a bail agent can secure the funds required for release. They review your criminal and personal history, bail amount, and flight risk. This helps determine if covering your bail is a financial risk for the company. If a bondsman agrees to post your bail, you sign an agreement outlining terms and responsibilities, including how long the collateral might be held. Processing your assets could take several weeks to months.
Retrieving Collateral
To resume possession of your assets, you must fulfill all obligations set by the court. This can include:
- Arriving on time and attending all court hearings
- Submitting to drug tests
- Completing required community service
- Making all payments on the bail payment plan
Collateral is not attached to the outcome of your case. It can be returned whether you are found guilty or innocent or the case is dismissed. Once you meet all conditions of the court and bail bond agreement, the court sends a discharge notice to bail companies to process your collateral. Balances, such as administrative and court fees or bond costs, are usually cleared before collateral is returned to a defendant.
Choose an Experienced Bail Bonds Company
When securing your release from jail, assets can be used as collateral to help cover bail costs and serve as a security for the bail bonds company. If you attend your court dates without fail and adhere to the signed bond agreement, collateral will be returned. To learn more about the process, call a qualified bail bonds agent today.
