In most cases, the need for bail bonding services arises unexpectedly. That leaves families scrambling to cover the bond, which can place a significant financial burden on not just the accused party, but his or her extended family, as well. Very often, families cannot come up with the full bail amount in cash and will need to work with a bail bond professional to have their loved one released.
What is Collateral?
Collateral is items of value that can be held in trust until your loved one returns to court. It is a form of "insurance" that lets the bail bond company feel secure that the accused party will meet the requirements to show up to court as ordered. In the event your loved one makes his or her court date, the collateral is returned. If he or she "skips bond" or does not appear, the bail bond company has the right to keep the collateral to cover the expense due to the court.
What Can be Used as Collateral?
Cash is one form of collateral and is the most common. You might also use your home, vacation home, or vacant land as collateral. Other items of value, like jewelry, recreational vehicles and automobiles, can also be used as collateral in some cases. Which property is accepted as collateral is up to the discretion of the bail bond company.
When is my Collateral Returned?
As soon as your case is resolved by the court, you can rest assured you will receive your collateral back. However, it takes some time for the court to process the required paperwork, so the process is not always as swift as families would like. It can take 15-20 business days to receive the disposition from the judge, and for the Free at Last team to process all of the necessary paperwork.
At Free at Last, we understand the burden that placing collateral takes on a family, and we make every effort to return your money or property as quickly as possible. We provide this information to help you understand the process involved in returning collateral, and ask for your patience as we wait for the court to do its part. Rest assured, you will have your collateral back as soon as possible. There is no need to reach out to the office to check on your collateral. The administrative team will contact you directly with any updates, and let you know when your collateral is ready for return.
At Free at Last Bail Bonds, we understand the importance and urgency of reuniting families. Collateral is a central part of the bail bonding process, and all team members work hard to ensure the collateral process is simple and straightforward, including returning property swiftly and professionally. If you or a loved one needs our services, we are here for you 24 hours a day at 404-577-2245.