Bond procedure
It is known that a bail bond company can help you get your freedom back, but there are some conditions that you need to fulfill. Usually 10% of the bail is their fee and the rest of it will be given to the court. Anyhow a co-signer needs to give you the collateral because the company needs insurance in case you do not present yourself into court. If they do not have the cash, they might own other things that are good as collateral.
Valid collateral items
The residential property can be used as collateral with success. You are able to give the home lien and the agent will give it back or liquidate it according to the outcome of the trial. If you own a vehicle, a motor home, a boat or a car, they can be given to the agent. He will put these things safely until the hearing date. Any personal items that are of value can be considered collateral items. You may use your electronic equipment or jewelry if their value will be accepted by the agency. There are many different items that can be accepted and you should check things out before giving up on your bond.
Invalid items
There are certain things that will simply do not do the job. Usually these things are refused until you can get something of value. For example a house that is on mortgage is not accepted often because the amount of time that it takes to transfer and process is extensive. If you have not paid your car entirely, you cannot offer it as collateral. The truth is that if you have an item and it was taken on credit and the credit is not paid, the company will not accept it. You do own that thing and the company will not consider it to be yours. So make sure that everything you propose for a collateral item is your own property.
You do not need to spend unnecessary time in jail if you have one of the possessions mentioned above. However, it may also be a friend or relative of yours that has these things and is willing to help you out. On the other side you should always be at the court at the time and date set by the judge. If you fail to do this, the truth is that you will lose the bail and the company will sell whatever items you used as collateral in order to get its money back. It is not a win-win case unless you decide to make it so.
Many people end up in jail after they have made a stupid mistake. This is a really awful experience as you cannot go home or contact your friends. When it comes to bailing out, people seem to be hopeless because they think that they have to pay the bail with cash. The truth is that there are other items that are accepted as collateral and this can guarantee that you will leave jail as soon as possible.
Courtesy: Minnesota Bail Bonds
