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Use A "Collection Of Collateral" To Secure Your Bail

by Alfred Parker

In order to secure bail, you may be required to put up collateral. Most use their home or vehicle to cover the bond. If you own neither, look closely at your other personal belongings to find things acceptable to the bail bondsman. A better understanding of what items possess value as collateral will help you avoid unnecessary delays in procuring both bail and a release from jail.

Offer Anything with Resale Value 

Anything with inherent value could be sold for cash. Therefore, it has the potential to be used as collateral. Inside of the average apartment, there is usually a lot of merchandise that can garner quick cash when put up for sale. While the amount of resale money might not be much individually, a collective of your various belongings might cover the bail amount. For example, jewelry, furniture, consumer electronics, fishing equipment, and collectibles could all be utilized for collateral. Clearly describing to the bondsman every bit of merchandise of value could sway a decision in your favor. 

Audit Yourself and Overcome Diminished Resale Value

You must overcome the loss of value inherent with used merchandise. For example, even though you paid $300 for a video game console, it might only be worth $100. Certain goods depreciate a lot and others depreciate less. Take time out, think clearly, and make mental notes about every single belonging you own. This way, you can maximize the monetary amount of collateral by maximizing how much you are offering. Literally meditating on what you own could help. Close your eyes and try to create a mental picture of everything inside each room inside your dwelling. Remember, the more you are able to convey a total picture of possible collateral to the bondsman, the greater you increase your approval chances. 

Explore the Pawn Shop Option

Just because the bondsman is not willing to accept the presented collateral does not mean you are without options. Sometimes, you just have to be creative in your dealing with the bail bonds company. Suggest to the bondsman you will pawn as many belongings as possible upon your release. Take the cash and procure a certified check made out to the bondsman who then holds it in escrow. The check then secures a portion of the bond and reduces the risk the bondsman takes. Once you appear in court, the bondsman will return the check, allowing you to pay off the pawn loan and redeem your belongings.

Obviously, this option is a proverbial long shot, but it is worth trying when you have no other recourse. For more information about bail bonds, visit America Bonding Co.