Getting incarcerated is unpleasant enough. Aside from the being put in a cell part, it often leaves you or someone you know with the task of coming up with enough money to cover the cost of a bond through a bail agent. Even if you don’t have enough cash on hand to pay, however, you may still own enough property or goods to be used for bail instead. These are the most common items that may be used as collateral in Georgia.
One of the most common types of bail bond collateral (for large bonds especially) is property, or, more specifically, a lien on a residence or a plot of land. Because property and land have such high value relative to the amount of a normal bail bond, this is usually an acceptable form of collateral for most bail bond agents. While this may be effective in a bind, it’s also risky. If the accused does not show up for their hearing once released, the property can be foreclosed on to recover lost funds. Additionally, bond agents will only take owned property as collateral after the mortgage has been paid in full.
CARS AND OTHER AUTOMOBILES
Another common and effective form of bail collateral is cars and other vehicles. Once again though, agents will only accept this form of collateral if you own the automobile outright and will not agree to a deal if you still owe money. If you do not own a car, you can still use additional vehicles you may own as collateral such as boats, motorcycle or even tractor-trailers. Because of their high value, many bail bond agents will see them as acceptable collateral.
If you don’t have enough money to cover the cost of a bail payment, but you have a jewelry box at home filled with valuable items, it may be a good idea to offer up these baubles as collateral for your bond. Most agents will accept gold, diamonds or other precious stones but some may turn down materials whose value fluctuates often.
Guns, crossbows and any other types of firearms will often work as collateral for a bail payment. Of course, it is most important that these items are worth the amount of the bond in which case they are generally seen as acceptable forms of currency in this situation.
Depending on the bail bond agent, you may find that they are willing to take virtually any item as collateral for a bail bond, as long as the item has the appropriate worth. If you are trying to pool cash for a bond, consider the value of the items surrounding you and whether or not you’d be willing to put them up for bail.