05 Jul The Different Types of Collateral Vanpool Bail Bond Accepts
Bail can be costly. When it’s more than what you can afford, you can contact Richmond Bail Bonds and apply for a bail bond. The fee for the bail bond is precisely 10% of the size of the bail bond you require.
The bail bond fee must be paid by cash, a check, or a credit card. Collateral comes into the picture when the size of the bail bond or something about your case makes us decide that we need something to secure the bond. If you fail to make it to court when you’re supposed to, we keep the item you used as collateral.
If you’re wondering what you could use for collateral, here’s a description of the items we regularly accept.
There’s no denying that the items we most commonly see used as collateral are vehicles. We will accept boats, cars, trucks, motorcycles, and any other kind of vehicle. When you decide to use a car for collateral, we usually don’t take it from your possession. Instead, we ask for the pink slip and proof that your vehicle is fully insured.
Jewelry is another item people often use to secure a bail bond. We love accepting jewelry because it’s small and doesn’t require much storage space. When you offer us jewelry as collateral for a bail bond, we request that you provide us with proof of ownership and a recent official appraisal confirming each item’s value.
Many people quickly ask if they can use their home or another piece of real estate to secure a bail bond, and the answer is a solid… maybe. Yes, we accept real estate as collateral, but only if the property is fully paid off and has no liens against it.
Stocks and Securities
We are willing to accept collateral in the form of stock and other securities. We will need to confirm the stocks’ value and ensure that they are valuable enough to be considered a reliable source of collateral throughout your legal journey.
It’s important to remember that we won’t hold onto whatever you use as collateral forever. Once your case is over, we will return the collateral to you. It doesn’t matter if you are found innocent or guilty of the charges; as long as you attend all of your mandatory court dates, your property will be returned.