Depending on the type of crime you may have been charged with, the court's bail amount could be substantial. When paying cash out of personal savings to cover the bail isn't possible, seeking out a bail bondsman in most cases is the best option. A bondsman, however, will require collateral to cover the bail. While in some situations, putting up your house for bail may be unavoidable — it’s not always the case.
Misconceptions About Collateral
A big misconception about collateral is that you "give away" property to the bondsman. Collateral serves as a deposit acting as a "last resort" to protect the bail bonds company. A bondsman requests collateral for the same reason a bank does when lending money. If there's a default -- i.e., someone skips bail -- the bondman can recoup the money through seizing the collateral.
Many people assume that collateral replaces the bail bondsman's fee — which is not true. A bondsman performs a service requiring the payment of the established fee. Collateral protects the bondsman against losses but doesn't cover his/her costs.
Seek an Honest Bail Bondsman
Just like any other business, the bail bonds industry, sadly, has its unprofessional characters. When looking for a bondsman, read reviews and testimonials to determine their professionalism. A good bail bondsman won't offer you confusing deals intended to take advantage of you during a tough time in your life. There won't be any hidden clauses, undisclosed fees, or unfair terms associated with collateral. Your bail bondsman should make you feel comfortable and ease your fears about how the bail process works.
How Collateral Works with Bail Bonds
By posting bail through a bondsman, a person facing charges secures his/her release from jail in the days or weeks before a court appearance. Failing to appear leads to a bench warrant and the forfeiture of the bond. Should the person that is facing charges fails to appear at their hearing, the bondsman has the right to take possession of the client's collateral.
After an arrest, a bail bondsman may be able to secure you or your loved one's release from jail. If you are unable to afford bail, call Andy Callif Bail Bonds at (614) 945-4334 for more information about how we can offer you or your loved one assistance.