What is Collateral?
Bail bond collateral is just like a bank’s collateral. It has value and will be released when the defendant fulfills his or her promise to appear in court.
If a defendant does not appear for court, or fails to appeal for all hearings, the bail bonds company can retain the collateral. This is true even if the collateral was put up by a friend or family member.
Bail bonds are expensive and it can be hard to come up with the cash quickly.
It’s not uncommon for bail bond companies to require a 10% down payment, which is $500 if your bail amount is $5,000.
Didn’t Do It Bail Bonds offers bail bonds that allow you to use any type of property as collateral in order to secure release from jail fast. We have flexible terms and will work with you on an individual basis so that we can find a solution that works best for you!
Common forms of collateral accepted for bail bonds
There are a number of ways in which people can provide collateral to Didn’t Do It Bail Bonds. We understand that this may be difficult for someone with high bail amounts, and we try to come up with solutions whenever possible.
Collateral we accept includes high-value items such as real estate, futures, quality jewelry or electronics. Credit cards are accepted as collateral and so is cash and firearms in certain circumstances. Any forms of collateral must be in the individual’s name to be accepted for a bond.
Should you use collateral to bail someone out?
Ultimately, the decision to use collateral is solely yours. Our advice is to carefully weigh the pros and cons of using collateral versus putting up all cash. Often it’s a good idea to use collateral, as doing so is easier and faster than trying to come up with cash fast or putting more money on credit.
Will I get my stuff back?
Yes, unless the bail bond is forfeited. We’ll return whatever you used as collateral when we close the case or give it back to you later in the court process.
If you use cash for a bond instead of your property, that cash will not be returned to you if the case is dropped or dismissed. However, if the case is completed and the defendant is found not guilty, you will receive a refund for any money put up.
If you have any questions about what we do or how it works, give us a call at 602-626-5214 for more information about our services and pricing options!