How Much Collateral is Necessary for Utah Bail Bonds
For anyone that has been charged with a crime in Utah, navigating through the often-complex system of bail quickly becomes a priority. Instead of forcing individuals to sit in jail while waiting for their trial to begin, the bail system allows those recently arrested to use the services of a bail bond agent in order to secure temporary freedom before the start of the legal proceedings.
But while some bail bond agents may require direct cash in order to issue a bail bond, others will accept a variety of different forms of collateral, such as deeds to homes and property, automobiles, jewelry, and other items of worth. If you are wondering what you should expect to hand over though, here are some things to consider before you begin.
It is All About Worth
Most importantly, the amount of collateral that a bail bond agent will often accept entirely depends on its worth compared to the amount of bail set by the judge. If the bail amount was declared as a few thousand dollars, there is little chance that a bail bondsman will be willing to offer their services in exchange for a few pieces of cheap jewelry. Before attempting to provide collateral, make sure that it comes close to, or even exceeds, the amount necessary for them to pay in order to claim your release.
Liquidity of the Assets is Important As Well
Of course, most bail bond agents would be happiest receiving a pile of cash as compensation for their provision of a bail bond in Utah. Cash is the most liquid form of currency, and can be spent directly on virtually any other good or service. That being said, while many bail bond agents will take multiple forms of collateral, most are much more likely to willingly receive anything that can quickly be sold for cash if necessary. Items such as deeds and car titles are generally looked upon highly, while more esoteric options, such as rare gems and other valuable objects, may be turned away.
Your Collateral Options Depend on the Bail Bond Agent
If you are in the process of trying to help someone post bail, and are considering using different possessions of yours as collateral, you may truly be surprised at the worth and function of many items owned by you and your family. Though it may seem as though your collateral options might be limited to only the most obvious items, such as a home or automobile, the items deemed acceptable by a bail bond agent depend entirely on the nature of the situation, as well as the relationship established between the two of you. If you present yourself with respect and trust, your bail bondsman will have more incentive to work with you and trade their services for a variety of collateral, giving you an easier path towards the liberation of your loved one.
Secure a Bail Bond in Utah
Even if you don’t have enough cash on hand, you still have options if you are looking to help your friend or family member enjoy life outside of a cell. Speaking to a qualified Utah bail bondsman today can help you understand your collateral options, and guide you on the path towards opening the door to the outside world.