If you have had a loved one arrested, the bail will be set by that particular county’s bail schedule at an amount relevant to the actual crime. Other factors taken into consideration are, flight risk, threat to the community, as well as if there is any previous criminal history. In the event that the bail is too high for an individual or their family, they will probably call in a bail bonds company such as ours for assistance. When using a bail bonds firm you might need to supply some collateral.
Simply put, collateral is just a protective measure designed to prevent a bail bonds company from suffering any financial losses when assisting clients. Similar to a bank, securing collateral such as real estate against a loan, bail bond companies can often require collateral that is equal to or more than the amount of the bail set by the court. Taking collateral is also a way of ensuring the defendant meets their required court appearances, and other obligations of their bail bond agreement.
Should the defendant not meet their scheduled court dates, which means they forfeit their bail privileges, the bail bonds agency can use the collateral as leverage to encourage the indemnitor (or whoever deposited the collateral) to work in with the bail bonds firm and locate the defendant. Indemnitors can be informed that if the defendant is not surrendered in a timely fashion, the collateral will be forfeited and then liquidated so that the expense of the summary judgment can be offset. If the defendant can not be located, apprehended, and surrendered within the forfeiture period, and in the event that the forfeiture can not be set aside, then the collateral is automatically forfeited to the bail bonds company. It will then be liquidated in order to recoup any expenses in relation to the summary judgment.
There are different assets that can be offered up as collateral:
Real Estate – is an excellent form of collateral, provided there is enough equity to cover and exceed the bail amount. It should also have no liens against it.
Vehicles – another good form of collateral. Again, there should be no liens against them, and a current title.
Cypress Bail Bonds is a professional, compassionate, and experienced bail bonds company, dedicated to assisting clients secure a release from custody. Our reputation has earned us the title of being the premium bail bonds firm in Southern California. A reputation such as this, is an assurance to clients that they are in the very best hands at all times.
If you are in urgent need of bail bond assistance, call us immediately on (714) 643-8486. As we avail our services on a 24/7 basis, you can be assured that we will be there for you right when you need us the most. You can read even more important information by visiting our website.