How Can You Present Collateral To A Bail Bonds Company?

When charged with a serious crime, you could be looking at an extended stay in the county jail until your hearing. A bail bondsman can secure your release even with a high bail amount. Once free from lockup, you can resume most of your normal activities and prepare for trial. With high bail amounts, however, the bondsman would likely require collateral. If you lack assets, take steps to seek a co-signer who meets the bond company's requirements.

Collateral and Securing the Bond

The reason demand exists for bail enforcement services that is some defendants skip out on their court appearances. A bail bonds guarantor doesn't want to lose his/her money and likely prefers a more straightforward recovery method than calling in a bounty hunter. Requesting collateral and a co-signer makes things easier. Any defaults allow the bondsman to file a lien. The bail bondsman does need to feel confident about the co-signer before issuing financial assistance. Here are some things to consider when seeking a co-signer:

Ask the Bondsman About Requirements: The bondsman surely wants assurances from the co-signer. The defendant doesn't want to waste time bringing someone unacceptable to the bonds company. To avoid delays, inquire with the bondsman about co-signer requirements. Does the bondsman only work with co-signers with excellent credit, a steady income, and a paid-off mortgage? Find these things out in advance.

Consider Combining Collateral: You might have collateral, but you may not possess enough collateral. The same could be true of your co-signer. Adding up the amounts, however, might be workable. Both the defendant and the co-signer become financially responsible for the bond amount after filling out a collateral agreement. Pooling both persons' collateral might add up to an amount agreeable to the bail bonds company.

Seek Out More Than One Co-Signer: If one co-signer isn't enough to cover the collateral amount, find additional friends or relatives to co-sign. Granted, the bail bondsman might not be thrilled with this arrangement. Filing collection actions against one person won't be desirable. Doing so against more than one party is even less so. However, a bail bondsman does need clients to remain in business. Accepting more than one co-signer might be an agreeable option for the bondsman.

Ultimately, a bail bonds professional wants to feel comfortable with a client. Proving to the bondsman you aren't a flight risk works in your favor. The bondsman may be willing to be flexible in matters related to collateral after feeling you will make all your court appearances.