What Can Be Used as Collateral for a Salt Lake City Bail Bond?
Getting incarcerated in Salt Lake City can be an unpleasant ordeal, as 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. But even if you don’t have enough cash on hand to pay, you may still own enough property or goods that can be used instead. If you own any of the following, you may be able to use them as collateral for a bond in Salt Lake in order to walk free today.
Common Items for Collateral
Property or Home That You Own
One of the most common types of bail bond collateral is property, or, more specifically, a lien given on the home or the area. 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. Yet while this may be effective, it is important to realize that if the accused does not show up for their hearing once released, the property can be foreclosed upon in order to recover lost funds. Additionally, bail bond agents will only take owned property as collateral, and usually only after the mortgage has been paid off in full.
Cars and Other Automobiles
Another common and effective form of bail collateral is cars and other types of automobiles. Once again though, bail bond 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 though, you can still use additional types of motor vehicles you may own as collateral, such as boats, snowmobiles, or even tractors or trailers. Because of their high value, many bail bond agents will generally see them as acceptable types of collateral for payment.
Jewelry
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 worth nearly a fortune, it may be a good idea to offer up these accessories as a collateral for your bond. Most agents will generally take gold, diamonds, or other valuable jewels, although some may turn down materials whose value fluctuates often.
Guns and Other Firearms
Guns, crossbows, regular bows, and any other types of firearms will often work as collateral for a bail payment to an agent. Of course, it is most important that these items have worth in the amount of the bond, but they are generally seen as acceptable forms of currency in this situation.
Anything Valuable
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 worth relative to the cost. If you are searching for cash in your home, consider the value of items surrounding you and consider what they may be worth.
Get Out of Jail in Salt Lake City
Just because you don’t have cash on hand, doesn’t mean you won’t be able to cover the cost of a bail bond in Salt Lake City. If you want to get out quickly, or if you need to help a friend in jail, try using any of these items as bail bond collateral to cover the cost of your freedom.
Larry Nowak
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