If you are trying to help a friend get out of jail but do not have a lot of cash on hand to use for it, you might be wondering if it is possible to use collateral. If you own anything that has value and are willing to use the item as collateral, it is possible to get a person out of jail with this. Here are several things you should understand about using collateral to bail a friend out of jail.
You Will Need to Go Through a Bail Bondsman
The first thing to know is that to bail someone out of jail, you must work with the jail that the person is in. The jail will tell you the amount needed for the bond, and you will need to pay them directly for the amount in full. If you do not have this much money, you can turn to a bail bondsman.
A bail bondman company is one that bails people out of jail for a fee. They will pay the bond amount needed, but someone must pay the fee. If you are willing to pay the fee out of your pocket, this is the best way to get a friend out of jail. It will cost you less money out of your pocket, and it will be a fast way to get him or her out.
The Bail Bondsman Will Agree to Bail the Person Out Under the Right Circumstances
When you ask a bail bondsman company for help, they will need to evaluate a few things before agreeing to help you. The first factor they will evaluate is the nature of the person who is in jail and the type of crime they were arrested for. If the crime is highly serious and if the person has a really long criminal record, they might be a little leery to help you. This, however, is not typically the case, though. Secondly, they will ask you if you have cash to use for the fee. If not, they will ask you about collateral. You cannot use the services of a bail bondsman without having cash or collateral to use for the fees they charge.
You Must be Willing to Give up the Asset You Have
If you do not have cash but have collateral, you should realize that you will have to be willing to give up the item you are using. If it is a house, you must sign a document that gives the bail bondsman a right to your house. If it is a physical asset, such as a diamond ring, you must give it to them before you can start the process.
Getting a person out of jail quickly is easiest to do when you hire a bail bondman for help. To learn more about this process or the types of collateral you can use, call a 24-hour bail bond agent for help.