When an inmate is given a bond for bail opportunity, they ultimately must either pay the full amount in cash, or they must hire a bondsman to pay it using bail collateral. Did you know 10% of the full amount must be paid to the bondsman before they pay the rest? There are many different options as to what you can use for collateral for a bail bond. Bail services in Reform, AL can be very easy to maneuver if you ensure you go through the process correctly.
One of the most popular forms of collateral is the person’s vehicle. Vehicles can easily be worth thousands of dollars, so most of the time it is all that is needed to pay off the bondsman. If the bond isn’t paid within the certain amount of time given to pay it, the vehicle is then handed over to the bondsman to use to pay off the rest of the balance to the courts.
Another very popular form of collateral is real estate. Many people decide to use their homes as collateral, being that they are worth sometimes hundreds of thousands of dollars. These are primarily used when there are high dollar bails set. Sometimes bails can be set higher than others, depending on the crime committed and the length of the jail stay without bond.
Precious metals and jewelry, as well as savings and investments, can also be used as collateral. If you have a savings account with a high dollar amount in it, most times it is easier to just use that to pay the bondsman or the courts. If there is jewelry in the possession of the inmate, or friends and family, that can be a high dollar way to present the collateral to the bondsman.
The way collateral works is if the inmate pays the 10% to the bondsman, they can give something worth the remaining price to the bondsman who will hold the item until the rest of the price is paid in full to them. If the remaining balance is not paid off, the item will then be used by the bondsman to pay the rest of the balance, and the inmate will not receive the item back. For other questions concerning the use of collateral, contact the leading agency for bail bonds in Reform, AL, Alabama Bail Bonds.
When you or your loved one winds up in jail, your first call should be to Alabama Bail Bonds. We understand how stressful it can be trying to navigate the bail bonds process. Count on a licensed bail bondsman to make the process as easy as possible for you. Turn to Alabama Bail Bonds for 24/7 bail bonds services, student bonds services, payment arrangements, misdemeanor bail bonds services, felony bail bonds services and much more. Contact us right away to get your loved one out of jail ASAP.