In some cases, particularly serious felonies, the amount of bail is very high. So, paying the premium yourself in cash may not be an option. Fortunately, Fizer Bonding Company, serving Montgomery and Robertson County accepts various forms of collateral http://www.tcng.org/understanding-bail-bond-collateral-agreements/.
Technically, anything of value can secure a collateral bond. If the defendant does not fulfill all bail conditions, such as checking in with their bonding company, staying out of trouble with the law, and making all required court dates, the (bail bond near me) which prepared the surety bond may take steps to repossess the collateral.
Some of the most common bail bond collateral forms are discussed below. Your Fizer Bonding Company bondsman can go over the specifics for each one with you.
Paid-off cars, motorcycles, RVs, snowmobiles, boats, and pretty much any other motor vehicles are good collateral sources. Typically, the bail bondsman just takes temporary possession of the title, and the current owner retains all use and possession of the vehicle. Assuming the defendant fulfills all conditions, the title goes back to the owner, and the matter is fully resolved.
Most people have jewelry and other such items that they rarely use or wear. Using these things for bail bond collateral is basically like pawning them. But instead of a cash loan, the bail bondsman arranges for the defendant’s release from jail. And, instead of repaying the loan, the owner simply waits for the criminal case’s resolution. Then, the surety agreement becomes null and void and you get your jewelry or family heirlooms back.
Property is perhaps the most flexible form of bail bond collateral. The party giving security need not even own the property. Many times, owners have a large amount of equity built up. Additionally, friends and family members can also offer real property as security. Typically, real estate is quite valuable, so these transactions are usually rather straightforward and quickly processed as collateral by your bondsman.
Investment or Savings Accounts
These things are easy to use as bail bond collateral because their value is very easy to determine. Furthermore, the owner keeps the item unless the defendant violates bail conditions. For these reasons, savings and investment accounts may be the most popular form of collateral.
Any Pawn-able Item
Computers and other electronics usually have very high pawn values. Firearms, musical instruments, and collectibles are usually pretty valuable as well. As a general rule, if a pawn shop would loan money, a bail bondsman will accept it as collateral. The collateral value may even be higher than the pawn value since in most cases, no money changes hands.
If you or your loved one needs to a quick release from jail call Fizer Bonding Company. Our professional and courteous bondsman is available 24/7 every day of the year and we offer creative solutions to get people out of jail. Fizer Bonding Company is a member of TAPBA www.tapba.org Tennessee Association of Professional Bail Agents. For more questions on how bail works, see our page on bail process.
“We’ll get your tail outta jail!”
Fizer Bonding Company in Montgomery County Tennessee
Fizer Bonding Company in Robertson County Tennessee
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