When obtaining Bail Bonds in Arlington TX, it’s necessary to pay a certain percentage of the bond as a deposit or use collateral that’s valued at more than the full bail amount. Just about anything of value can be used for the bail bond. However, it’s important to understand how the collateral works before deciding that’s the right option.
How is Collateral Used for a Bail Bond?
The person obtaining the bail bond will need to bring in the item of value, whether it’s gold, the title to a car, or the deed for a home. The bondsman will hold onto the collateral, as it will be used to secure the bond. Depending on what happens next or after the arrested person is released, the collateral can be returned or may be forfeited.
What Happens if the Terms are Followed?
If the terms of the bond are followed and there are no issues while the arrested person is free, the collateral will be returned to the person who secured the bond. They will need to pay a small percentage of the bond as a service charge but will owe nothing further once the bond is finished, and anything they used for collateral will be returned to them right away.
What Happens if the Terms are Not Followed?
If the terms of the bond are not followed the bond could be revoked, which would mean the person who obtained the bond would forfeit the collateral. Typically, they will be given a chance to pay the bail so they do not lose their collateral permanently. There may also be other ways to avoid forfeiting the collateral, but the individual obtaining the bond will need to speak with the bail bond company to find out what they can do.
If your loved one has been arrested, learn more about using collateral for Bail Bonds in Arlington TX or what you need for a deposit to secure a bail bond to help the loved one be released from jail. Visit the website for a local Bondsman now to get the help you need so your loved one doesn’t need to remain in jail longer than necessary.
