Need To Come Up With Collateral For A Bail Bond? 3 Things You Can Use

If you are going to help get somebody out of jail by getting a bail bond, you will likely be requested to give collateral as part of the process. The collateral is used to ensure that the person being released from jail shows up for their court date, and if they don't, the bail bondsman gets to keep the collateral you gave them to help make up for the money they lost. Here are some things you can use as collateral for a bail bond.

1. Jewelry

A popular item that people use for collateral is jewelry. This is because jewelry can be very expensive, and it is easy for a bondsman to sell it due to its value to get their money back. One thing to keep in mind with jewelry is that its small size often means that a bondsman will require that they hold onto it until the person's court date. Once the bail money is released, you will get your jewelry back. Consider the sentimental value of the item that you are using as collateral and realize there is a chance you can lose it if you do not trust the person to return to court.

2. Vehicle

Another high-value item that almost everybody has is a vehicle. The nice thing about using a vehicle is that you don't need to handle over the vehicle right away to receive the bail bond. Instead, you give the title for the vehicle and the bondsman will hold onto it until the bail is released. While you still have the vehicle, the bondsman may claim the legal right to it is the person being released from jail does not return to court. The bondsman can then repossess the vehicle from you if you do not willingly bring the vehicle to them.

3. Property

One thing that you have to keep in mind with property is that you must own any property you are using for collateral. This means if you have an existing mortgage on a home, that property technically belongs to your mortgage lender. If you do own the property, it will be treated in the same ways as a vehicle where the bondsman holds onto the deed until the bail money is returned to them.

These are just a couple things that can be used as collateral for a bail bond. Reach out to a local bondsman for more information on what else you can use if you don't have any of these three things.