After one is arrested, it is common practice for the court to allow you to post bail so that you can remain free as you attend court proceedings. Now, unless someone has substantial amounts of resources, they may not be able to post bail unless they obtain a bail bond. So, what are some of the things that one can use as collateral for their bail?
There are many options that one can use. Here are some of the collateral options:
- Any type of valuable vehicles
- Real estate property
- Jewelry or precious metals
- Your savings and investments
- Items that can be pawned
If you own a car, this can be used as bail bond collateral. You may offer SUVs, trucks, motorcycles, motor homes, boats, all-terrain vehicles and so on. If you fail to attend court proceedings, you will lose the vehicle used as collateral.
This refers to houses or any other kind of building, natural resources such as minerals and even pieces of land. Any form of property in this category can be used for bail bond purposes. It is possible for family members and friends to offer their real estate as collateral for your bail bond needs.
Precious Metals and Jewelry
For people who have holdings of silver, gold, or any other precious metal; they can use this as collateral. The same case applies to precious stones such as rubies, diamond, sapphire, and so on. However, the market value of these metals will need to be determined before they are used as collateral.
Savings and Investments
If one has a savings account, they can offer it as collateral for a bail bond. You can also offer investments in stocks, bonds, shares, and so on.
Items that can be pawned
Anything that can be pawned to obtain a loan at a pawn shop can be used as collateral for a bail bond. Things such as TVs, Computers, laptops, Music gadgets, phones, and such other items can act as collateral.