30 May What Kind Of Collateral Can I Pledge?
Getting a bail bond requires a few items:
- Premium – 10% of the bail amount
- A co-signer
- Collateral
- The defendant’s loyalty to show up for court
Perhaps the one we get the most questions for, would be collateral. What can be used as collateral? Collateral will fall into one of the four following categories:
Real Estate
Property can be pledged as collateral as long as you still do not have to make payments on it. Vehicles
Likewise with real estate, any vehicles for which you are still paying off will not be accepted as collateral. You must own it completely.
Electronics
Big screen televisions, camera equipment, video game systems, and DJ-ing equipment are just a few electronics that can be worth a lot of money.
Valuables
Jewelry, expensive art, coin collections, and firearms are often used as collateral.
Whatever collateral is pledged will have to equate to a certain cost, which the bail bondsman will help determine. It is 100% acceptable if there is more than one item up for collateral. We can help you determine how much collateral will be needed, if any, in order to get the bail bond for your loved one. Get in touch today.