What Types of Collateral Can I Use to Get a Bail Bond?

 Posted on April 30,2021 in Bail Bonds

Being arrested and charged with a crime can be a scary experience, and a person will often be worried about whether they will be able to be released from jail quickly. One major concern that can affect a person or their friends or family members is how to afford the amount of bail set by the judge in their case. Fortunately, by using a bail bond, a person can get out of jail without being required to pay the full amount of bail. 

In most cases, a bail bond will only cost 10% of the total bail amount. However, it can sometimes be difficult to put together this amount of money. In these cases, a person or their family members may turn over collateral to be held by a bail bondsman until they can raise the necessary funds. Collateral may include any items of value, including:

• Real estate - A home or piece of land is often among the most valuable property owned by a person. To use real estate as collateral, a deed of trust will need to be filed giving authority over the property to the bail bond company, and a lien will usually be placed on the property. Usually, the equity a person owns in their property will need to be equal to or greater than the amount of bail.

• Vehicles - The title to a car, truck, or motorcycle may be turned over to a bail bondsman, and a person will usually able to maintain possession of the vehicle. Other types of vehicles may also be used as collateral, such as boats, dirt bikes, ATVs, or jet skis.

• Stocks, bonds, and other investments - When these types of financial assets are used as collateral, ownership may be transferred to the bail bond company temporarily.

• Jewelry and other valuables - Wedding rings, gold watches, necklaces and earrings with precious gems and metals, or other valuable pieces of jewelry may be held by a bail bondsman. Other valuable items that may be used as collateral include artwork or sports memorabilia.

• Electronics - A bail agent may take temporary possession of devices such as TVs, computers, video game systems, or smart watches.

• Firearms - Handguns, rifles, and other firearms may be worth hundreds to thousands of dollars, and a bail bondsman may hold these weapons as collateral until other payment arrangements can be made. 

Contact a Plano, TX Bail Bondsman

At Doc’s Bail Bonds, we believe that everyone should be able to afford to get out of jail. We will work with you to determine the most affordable options for receiving a bail bond. We can help you understand whether the property you own may be used as collateral, and we can also help you set up a payment plan that fits into your budget. We never perform credit checks, and we will find flexible solutions that will meet your needs. To learn how we can help you post bail for yourself or a loved one, contact our Collin County bail agents at 214-747-4110.