How Much Collateral Do You Need To Get Out Of Jail?


Once you get arrested and placed in jail, the only way out is by paying your bail money or waiting until the court releases you. Some people find themselves stuck behind bars without a way out, though, because they do not have the cash to pay the bail. If you need a way out and do not have any money, you can use collateral and the services of a bail bondsman to get out. Here are several things to know if you need to use this method to get released from jail.

The Methods for Getting Released

People trapped behind bars have only a few methods they can use to get released. They can wait for months until the judge releases them after settling the case and serving the necessary jail time. People can also pay bail themselves with cash, or they can hire a bail bond agent. Hiring a bail bond agent is probably the most common method for getting released from jail because it is the most affordable way out.

Through a bail bond agent, you can get released without paying a lot of money. Instead, you pay a small fee, which is based on the bail amount for your case. No worries, though, if you cannot afford this fee. If you cannot afford it, you can pay the fee and bail price with collateral.

How Collateral Works With Bail Bond Agents

If you do not have the cash you need but have collateral, you can use it to get released from jail. To do this, you must first contact a bail bond agent. The agent will ask questions about you, your history, and the bail amount. They will then discuss your options. Bail bond agents normally charge a 10% fee for their services. If you do not have cash, you can use collateral to pay this fee. One essential thing to know is that you may need more than 10% collateral.

For example, if the 10% fee is $1,000, the bail bond agent might require collateral that is worth more than $1,000. You might need $10,000 of collateral. You can get the items back, though, after the court releases your bail. Therefore, you will not lose the items you used, but you must follow the rules set by the jail, court, and bail bond agent.

Give a bail bond agent a call today to learn more about their services.


16 June 2020

Borrowing What You Need

When it comes to borrowing cash for a new house or a nice car, how much money do you really need? Although you might be tempted to mortgage yourself to the brim or borrow a little more than you should, the fact of the matter is that everyone has financial limits. My blog discusses the impact of borrowing more than you need, so that you can make smarter decisions with your money. In addition to keeping you out of trouble, this valuable information might also improve your quality of life and protect your financial future. You never know, it could make all the difference.