A bail bond allows a loved one to help an arrested person get out of jail quickly, but there are risks involved. Before working with a Bondsman in North Richland Hills TX, it’s a good idea for the loved one to make sure they understand the available options and the risks involved with obtaining a bond. If they would like to use collateral to secure the bond, there is quite a bit they should know before getting started.
The Types of Collateral Accepted
The collateral used generally needs to be worth at least double the full bail amount. It also must be something of proven value. Collateral generally includes titles to vehicles, deeds to homes, or other items of high value. For jewelry or other items, it may be necessary to bring in paperwork proving the value is sufficient to secure the bond. A bondsman can explain the types of collateral they accept and what they need before accepting any collateral.
If the Bond is Completed
If the bond is completed without issue, the person securing the bond will receive the collateral back. They may be required to pay the service fee for obtaining the bond before the collateral will be released, and they may need to show that all hearings are completed before receiving their collateral. Once they have received the collateral, there is nothing else they need to do.
If the Bond is Revoked
If the bond is revoked, the person securing the bond generally forfeits the collateral. This means they will not get it back, as the collateral will be sold to recover the funds lost by the bondsman when they paid the full bail amount. In some cases, the person who secured the bond can pay the bail amount in full to receive their collateral back before it is sold, but they will need to speak with the bondsman to see if this is an option.
If you’d like to help a loved one who has been arrested and you don’t have cash on hand, you can secure a bail bond with collateral. Speak with a Bondsman in North Richland Hills TX to learn more about this option or visit Ronnie D. Long Bail Bonds online to get help right away.
