What Can You Use As Collateral For Bail?
When posting bail, there are several things that can be used as collateral, including:
- Cash: In many cases, the full amount of the bail can be paid in cash, which is then returned once the defendant appears in court.
- Property: A property that is worth at least the full amount of the bail can be used as collateral. This could be a home, car, or other valuable asset.
- Surety bond: This involves a bail bondsman who pays the full amount of the bail, in exchange for a non-refundable fee (usually 10-15% of the total bail amount) and collateral, such as a house or car.
- Co-signer: A person with good credit who agrees to be financially responsible for the full amount of the bail if the defendant fails to appear in court. The co-signer may also need to provide collateral.
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