What Kinds of Collateral Do Bondsmen Accept?
Verbal promises are not applicable or accepted as payment when you use a bail bond firm.
Bondsmen are experts who can assist persons in navigating the criminal court system. This will aid in releasing prisoners.
Bondsmen can help you or a family member get out of jail quickly and can also explain court procedures and processes to you. They have a lot greater understanding of the criminal justice system than you have. One of the top bail bond firms in the Wichita area, A Second Chance Bail Bonds, has assisted thousands of clients not just with a bail bond but also in the aftermath.
If you’re considering employing a bondsman, be aware that some items can be used as collateral before they agree to work with you. Different bail bond companies will accept different sorts of collateral, but the following are some of the things we may or may not accept.
So, which of these things can a bail bondsman accept as collateral?
The majority of reputable and well-established bondsman companies typically take a variety of goods of quantifiable worth as collateral, including real estates, such as houses or other connected property, vehicle titles, bank accounts, credit cards, jewelry, stocks, and bonds.
House as Collateral
A home’s title can be used as collateral to secure a bail bond with a company, but the property cannot be subject to a mortgage.
Land as Collateral
When engaging bondsmen to help you secure your bail, land might be used as collateral. Until the scheduled court date, you just need to turn over the land’s title deed or pink slip to the organization or the court.
Vehicles as Collateral
You can give the organization or court additional valuable possessions as collateral, such as boats, RVs, or automobiles, among others.
Valuables as Collateral
If you own any valuables, like collectibles, fine jewelry, and antiques, you can give them to the court or the bonding company as collateral.
Some further forms of bail collateral are…
- Art Works
Even the balance report for your bank account. Knowing that the money will become locked up and unavailable for withdrawal until the court case has been heard is important when using money in the bank as collateral.