Video: What does Bail Bonds Collateral Mean?
Bail collateral secures the bond and why a bail bondsman needs this from you.
What is bail bonds collateral and why does a bail bondsman need this to secure bail? A bail bond company will often require bail collateral in addition to a premium payment for a bail bond. Collateral is anything of value that is used to secure the amount of the bail bond, such as jewelry, coins, cars, or an indemnitors home equity. Bail collateral may remain in the bail agents possession until the defendant’s case has completed. Collateral is returned when charges are dropped and case has concluded.
It is good to know that bail bond companies require the bail collateral as well as a premium payment. Its also good to know that my collateral is returned after the case is over and all charges are dropped. I just hope my brother-in-law goes to all of his court appointments!
I always wondered why collateral was needed for a bail bond. I’ve never needed a bail bond, but my brother got one and he asked me for collateral. He almost signed with some shit company called Cloud Bail Bonding. I wasn’t able to do anything at the time, but I’m glad to know what that means now.
I had never heard of collateral before. Thanks for the explanation! My cousin just got out of jail and used his car for collateral bail liability payment. He was having a hard time explaining the process, so I found your article to make things clearer. Thanks!