Collateral may or may not be a consideration when arranging to have a bond agency post your bail. Many agencies will agree to represent a defendant with a signature bond, one that relies on the good character of the defendant and that of his co-signer if need be.
In order to establish that a defendant can be trusted to comply with the stipulations attached to his bail an agent will ask questions concerning the defendant’s current employment status, if he owns or rents a home in the area, how long he has resided there, if he has an established credit rating and anything else that could speak to his dependability. This information along with the particulars of the crime the defendant has been accused of committing will all factor into the decision about whether or not collateral will be required.
If bail is contingent on the surrender of collateral, some form of property such as land or real estate will usually be put up as the security. In these cases the deed to the property or other certificate of ownership will be turned over to the bail agency to be kept securely until the case has been concluded when the collateral will be returned.
Personal items of value may also be used as collateral for a bail bond. Jewelry, art, vehicles – any assets of worth equivalent to that of the bail amount. Cash and bank accounts can also be forms of collateral although defendants often choose to keep these funds on reserve for attorney fees.
Co-signers should be aware that all forms of collateral are at risk of loss if the defendant fails to appear in court for all assigned dates. If a co-signer relinquishes a property deed for instance, he is risking foreclosure if he can’t come up with the money to cover the bail if the defendant fails to appear for his trial. A bond agency will stress this fact when informing a possible co-signer about the way the process works.
BWB Bail Bonds Agents are available to their clients 24/7. Call 720-358-2908 to talk personally with an experienced representative.