Types of Collateral That Can Be Provided to Bail Bondsmen in Huntsville AL

by | Jun 13, 2019 | Bail Bonds Service

When a loved one has been arrested and taken to jail, the immediate family may contact a bail Bondsmen Huntsville AL has available. There is a fee for this service and the agency may also require collateral if they are concerned that the defendant might run away. Several types of collateral may qualify to secure this surety bond for pretrial release.

The collateral required depends on the amount of bail that was set, which will be the amount of the surety bond posted by Bail Bondsmen in Huntsville, AL, has available. Sometimes bail is set relatively low, such as at $1,000, but the family still can’t come up with that money. In other cases, bail might be set at 10 or 20 times that much.

Smaller Dollar Amounts

If the bail is set at $1,000, the family might use a laptop computer, a flat screen TV set, a digital camera, a diamond engagement ring, firearms or a combination of items as collateral. These are generally thought of as pawnshop-type items.

Collateral for Higher Bail

Higher bail amounts might need to be secured with a vehicle title or even a lien on real estate, if the family owns a car or a home. Pawnshop items would need to be provided directly to the agency, but the person can continue driving the car while the agency has a lien on the vehicle.

Accepting the Risk

The person arranging for the bond must be willing to accept the risk when posting collateral. If the defendant does skip town, the court will issue another arrest warrant and demand the full bail amount from the bonding agency. The agency then has the right to transfer the collateral to the court.

Return of Collateral

As long as the defendant appears in court as scheduled whenever this is required, an agency like A Discount Bonding Co. Inc will return the collateral to the person who arranged for the bail bond. This is true even if the defendant pleads guilty in a plea bargain or is convicted by a jury. This is similar to the way cash bail is returned at the end of a case. Click Here to get started with an application.