Four Main Types of Collateral You Can Use to Buy Bail Bonds in Euless, TX

Posting bail allows a defendant to go free during trial proceedings. However, lack of resources makes posting bail or even buying bail bonds in Euless, TX. difficult. Luckily, defendants can use collateral to guarantee repayment and improve their eligibility for a bail bond. Every bond agent is different, so direct specific questions to any agency’s “Contact us Today” phone number or email.

Most Common Forms of Collateral

Every bond agency has its own list of items that qualify as acceptable collateral. Most of these lists have several items in common: vehicles with titles, guns, airplanes, and boats. Some agents accept real estate and jewelry or any item that might fetch a collateral-based loan at a pawn shop.

Plus, some agencies make exceptions according to each defendant. Therefore, it’s important for defendants to offer whatever valuables they can. Bail bond financing may be available, or a third party can pay for the bond upfront with a credit card and then pay the charged amount in installments as they pay down their card balance.

The Cost of Bail Bonds

In Texas bail bonds have a premium (cost) equal to 10 percent of the full bail amount. This premium is the bond agent’s nonrefundable fee. Heads up: if a defendant uses collateral to cover the bond premium, that collateral becomes the bond agent’s property. If the defendant fails to appear in court, any other collateral presented also becomes the property of the bond agent who must now cover the cost of bail in full.

Contact us today at Ronnie D. Long Bail Bonds Tarrant County-Fort Worth, a fully staffed, customer-centered bond agency delivering outstanding service and bail bonds in Euless, TX. for more than 35 years.