Finances and Money Management Made Simple

When someone is arrested and needs to be bonded out, the bond amount is often far more than friends and family have readily available to them. Bail bond companies afford families the ability to get the money they need to get their loved ones out of jail, however the companies require the families to put something down as collateral toward the bail bond. The guide below walks you through a few of the items that the company may allow you to use as collateral for a bail bond that you may not have considered.

Furs

Fur coats and stoles can be very valuable. The bail bond company may be able to allow you to use furs as collateral, if you can prove that they are authentic. Provide the company with the bill of sale of the furs to show authenticity of the items.

Jewelry

Jewelry can often be great to use as collateral for a bail bond. Take the time to get the jewelry appraised before you go to the bail bond company so you can show them the appraisal for the jewelry when you apply for the bail bond. They may choose to get their own appraisal, as well, but providing them with one could make the process much quicker for you.

Artwork

Valuable artwork can also be great collateral for bail bonds. You need to have a Certificate of Authenticity for the artwork so that the bail bondsman can know that the piece is real and that it is valuable. The Certificate of Authenticity should have come with the piece when you bought it.  

Recreational Vehicles

Recreational vehicles may also be accepted as collateral by the bail bond company. You will need to provide the company with a title of ownership for the vehicles when you apply for the loan. RVs, boats, and even four-wheelers are often accepted as collateral.

The only way that you will be able to know if abail bond company will take one of these valuable items as collateral for the bail bond is to ask them. The company may need to keep the items in their possession until the case is finalized to ensure that they will be able to get the money that they are owed if your loved one does not show up to court when they are supposed to show up. Once your loved one has fulfilled their end of the agreement, your items will be returned to you upon completion of payment of the agreed upon amount.