Bail Bonds Collateral

When someone is arrested, they are held in jail for a period of time before facing a judge. When the arrested person faces the judge, the judge may place a bail for the defendant’s release, depending on the severity of the crime. The bail can range from a few hundred dollars to upwards of a million dollars. If a bail is set, it can be paid to ensure the defendant’s release until the court date. Many times, the defendant or the family and/friends of the defendant cannot afford to pay the full bail. In those cases, they will usually seek monetary assistance in the form a bail bond. With a bail bond, the defendant or family/friends of the defendant can pay a percentage of the bail to the bail bondsmen, and the rest is covered. The rest of the bail is covered under the pretense that the defendant will appear at court on the date assigned. There are several types of bonds, including a collateral bail bond.

Collateral is something that must be forfeited to a bail bondsman in order to secure a defendant’s release from jail. Many times, a bail bond company will require some sort of collateral to ensure that the defendant appears in court. This especially goes for defendants who are high risk and have missed out on court dates before. The majority of bail bond collateral is in the form of cash or real estate, but other forms of collateral are accepted such as the title to vehicles, assets, or credit card payments. When collateral is put up for a bail bond, the bondsman will hold the collateral until the defendant appears in court. For example, the bondsman will hold the titles to the vehicle, the deed to the real estate, or will charge the credit card. Many bail bonds don’t require collateral, but in most instances it is required for repeat offenders who are considered to be high risk to ensure they show up in court. When the defendant does appear in court, the collateral is returned.

Should the defendant decide not to appear in court, they risk forfeiting the collateral or the person who put up the collateral risks losing it. After the first missed court date, there is a waiting period of 120 days for either the defendant or the attorney to set another court date. If the time period for the trial passes before the court date is set, then the collateral is forfeited. However, there is time for the indemnitor to put up cash to get the collateral back. Otherwise, they will not be able to retrieve the collateral and the bail bond company will keep it.

If you or a loved one has found them in the unfortunate situation of being imprisoned, click here to get assistance for the situation. At Alliance Bail bonds, defendants will be assisted to the best of their ability, and you will be showed the ins and outs of the bail bonds process. Alliance Bail Bonds main mission is to serve its customers and help defendants with the arduous bail process.