No Collateral Bail Bonds Explained
What does collateral mean?
Collateral is something that is valuable that is used to secure a payment. There are only two types of collateral that are appealing to most bail bond companies. The collateral types are likely to be cash or real estate. The bail bond company cannot keep the collateral once the case is resolved. It must be returned.
Collateral is usually not needed if we look at your case closely. If you have good credit history and good standing within your community, we would not need any collateral as a form of security.
Is collateral needed and/or required?
No collateral is needed in most cases. Remember, if you are an indemnitor/ guarantor, you are responsible for the defendant to show up for their court dates. If you sign the agreement, you are obligated to pay the full amount of the bail bond.
Do I get bail bond collateral back?
Once the defendant’s case is completed, and all financial obligations are taken care of, the collateral will be returned.
To learn more about bail bonds, please contact Tiny’s Bail Bond online or at 866-742-0764.