What Can Be Used as Bail Collateral?

What Can Be Used as Bail Collateral?

Being released from jail while the court processes for your trial are underway is imperative, as remaining in custody could impact your personal and professional life and make it difficult to build a strong defense for your case. A judge will set you bail amount, but because you might never have imagined you would find yourself held on criminal charges, your finances might not be in a place to allow you to pay the entire amount. You may turn to a bail bond company for help securing your release, but you may need to put up collateral for the bond.

Collateral is anything of value, such as property or possessions. It is used as a type of security to ensure you show up for all scheduled court hearings for your case. In Ohio, a bail bond company cannot ask you to put up collateral that is unreasonably more than the bond amount.

What Can Be Used as Collateral?

When you have a bail bond company help secure your release from jail, the company signs a legally binding note with the court stating that the full amount will be paid should you fail to appear for your hearings. If such a situation arises, the collateral you put up will be used to pay the remaining bail.

Types of property that can be used as collateral include, but are not limited to:

  • Real estate, such as a home or apartment you own or have equity in
  • Vehicles, including cars, trucks, RVs, and the like
  • Valuables, which can be things such as jewelry, antiques, or collectibles

When you use your property as bail collateral, you may either need to place the property in the surety's name (if you're using something such as a home or car), or may have to be physically given to the company or court (if you're using something such as jewelry).

Will Collateral Be Returned?

Using your property or assets as collateral can be difficult, as you may wonder whether or not you will get it back. If you attend all required court proceedings, your property will be returned at the conclusion of your case.

However, if you fail to appear in court, the bond will be forfeit. That means you, or the bail bond company, will be liable for the entire amount, and anything you already paid will not be returned. The property you used as collateral will be seized, sold, or collected by the court.

Do I have to Put Up Collateral?

Although collateral is an option, it is not necessary for making bail. You may be eligible for bond without it. It's best to discuss your options with an experienced bail bond company.

If you've been arrested for a crime, Andy Callif Bail Bonds is here to help you get out of jail. Since 1960, we've been guiding individuals in Columbus and the surrounding areas through the bail process and can provide sound answers to your questions and concerns. Call us at (614) 945-4334 or contact us online today.

Categories:

Contact Us Today!

ALL CONSULTATIONS ARE FREE AND CONFIDENTIAL
    • Please enter your name.
    • This isn't a valid phone number.
    • Please enter your email address.
      This isn't a valid email address.
    • Please make a selection.
    • Please enter a message.