The thought of needing to bail someone out of jail is super terrifying. For some people, the situation could get worse by needing to put something up as collateral. This can make the act of bailing someone out of jail even more stressful for people. Not only do they have to worry about making payments…
Read MoreTag: what is collateral
What You Can Use as Bail Bond Collateral
Collateral is a term used to cover something that is pledged as security for repayment of a loan. Collateral is forfeited in the event that the original payment for the loan does not occur. You may be familiar with the concept of collateral for bank financing purposes, but did you know that it is also…
Read MoreWhat Happens If I Bail Someone Out of Jail and They Do Not Show Up for Court?
You definitely do not want that to happen. If you pay for someone’s bail bond and they do not show up for court, you will feel consequences. You will have to pay off the bail, more than you would have paid if they showed up for court, and the collateral you pledged will need to…
Read MoreWhat Collateral Is Acceptable for Bail Bonds?
When looking into getting a bail bond, you might come across the term collateral, and wonder what it means. Companies use collateral like insurance. If the defendant is compliant with all the terms of the bail bond, then the collateral is returned back to the original owner. If the defendant fails to make payments on…
Read MoreWhy Do Some Companies Need Collateral?
Sometime when you are paying for a large bail bond, some bail bond companies require their clients to put something up as collateral. This can be very inconvenient and discouraging for some people, which will prevent them from even trying to bail their loved one out of jail. For those who may not know, collateral…
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