Posts tagged with "bail bonds Allentown PA"

The Most Common Forms of Bail Bond Collateral, Part 2

Bail Bonds in Allentown, PA | AABailBondsLLC.com

As mentioned in “The Most Common Forms of Bail Bond Collateral, Part 1,” there are a quite a few types of bail bond collateral used as options if the arrested person doesn’t show up for his or her court date. Collateral is only eligible to be returned once all the arrested person’s financial obligations are paid off and the case is closed; until the case closes a bail bond agent can keep holding the bail collateral. Some other kinds of collateral put up for bail include all of the following:

Firearms

Many types of firearms work as collateral for a bail payment. If these items are worth the amount of the bond they are generally acceptable forms of currency in this situation.

Credit Cards

The limit on the credit card that is put up as collateral must exceed the penal amount that is charged if the defendant fails to show up in court.

Electronics

Electronics such as the newest generation of an iPhone, which may be valued as high as $1,000, are becoming more common as bail collateral. If you can combine your electronics with a little cash, you most likely will be able to cover the amount of your bail.

Always Available Bail Bonds is ready to help when you or a loved one need bail bonds in Allentown, PA, or any of the surrounding areas.

The Most Common Forms of Bail Bond Collateral, Part 1

Bail Bonds in Allentown, PA | AABailBondsLLC.com

If a defendant doesn’t have the cash to post a bail bond to get out of jail, which is around 10% of the bail amount, other options include certain common forms of collateral. Collateral usually needs to be equal to the amount of the bond, and it is a kind of guarantee or placeholder that the arrested person will show up in court. When the defendant does appear for court, and at the conclusion of the court case, the bail bond is dissolved, and the collateral is returned to the person who posted it. While bail bond agencies set their own standards, most of them accept a variety of bail collateral, including some of the following most accepted forms:

Homes

The title of a home can be offered to the bail bond agency as a form of collateral. However, you must have equity in the home, and the home can’t be in the foreclosure stage.

Vehicles

If you hold the title to your vehicle, you can place it up as collateral for a bail bond. You must be the vehicle’s title holder, and you can’t have any outstanding liens or loans on it.

Jewelry

If you own any valuable jewelry, you can choose to put it up as collateral. The most common kinds of jewelry as collateral are gold and diamonds, but other pieces that have been appraised as valuable may be usable.

Contact Always Available Bail Bonds when you or a loved one need bail bonds in Allentown, PA, or any of the surrounding areas.

What Are the Kinds of Collateral for a Bail Bond?

Bail Bonds in Allentown, PA

When you are given the opportunity to post bail and be free until your trial, you need to obtain a bail bond or pay the full amount of your bail upfront. If you don’t have the ability to pay the full amount of your bond you’ll have to get a bond co-signer or be able to provide some sort of collateral to secure your stats with a bail bond agent. Some of the most common items used for bail bond collateral include all of the following:
Vehicles
A car, SUV, van, or truck can be offered as collateral to secure bail bonds in Allentown, PA. Other kinds of vehicles can include RVs, trailers, motorcycles, boats, all-terrain vehicles, campers, and snowmobiles. If you forfeit your collateral, you will lose that vehicle.
Real Estate
Real estate can be any kind of building, property, or natural resource like minerals, water, livestock, or crops on a piece of land. If you own property like this, you can offer it as collateral for your bond. You can also use the equity in a piece of property through a mortgage payment of other financial arrangement.
Jewelry or Precious Metals
You may use precious metal with significant cash value as collateral or some kind of jewelry that contains a valuable stone such as a diamond, emerald, sapphire or ruby.
Savings or Investments
Your savings account can be offered as bail bond collateral and so can any valuable investment such as. Certificates of deposit (CDs), stocks, or bonds.