When a loved one gets arrested and their bail is set to an amount you can’t afford, a bail bond company can help you gather the funds you need to release them from custody. By accepting property and valuables as collateral, bondsmen put up the required amount for your bail to allow your loved one to roam free while they wait for their scheduled court appearances. If you have questions about the process, here’s how collateral works and what is accepted.

All You Need to Know About Collateral 

What Is Collateral?

Collateral can be offered to a bondsman as an alternative or in addition to cash to gather the funds needed to post bail. This serves as a guarantee to the bonding company that you’ll attend your scheduled court dates while your case is in progress. Once you’ve gone to all of your hearings and your case is finalized, the agency returns your collateral no matter what the court’s decision.

What Will They Accept?

Bonding companies have individual guidelines for what they accept, but most agencies take real estate properties or equity for homes that aren’t under a mortgage; vehicles such as cars, boats, or mobile homes; and valuables such as jewelry, firearms, electronics, artwork, and antiques.

What Happens if the Terms of Bail Are Violated? 

If you fail to make a court appearance, you forfeit your bail bond. This means any collateral you or your loved ones put up will have to be surrendered to your bondsman to cover their expenses.

If you’re looking for a reliable bondsman to treat your case promptly and professionally, contact Godfrey Bonding. For nearly 40 years, they’ve helped residents of Cherokee County, GA regain their freedom. They’re available day and night to guide you through the bail bond process so you can collect the funds you need as quickly as possible. Visit their website for more information on posting bail, or call (770) 479-5230 to discuss your needs.