There’s a widely held misconception that one must have tons of money to post bail or even buy bail bonds, but this is untrue. A premium bail bonds service in Peoria AZ, is just a phone call away, and flexible payment forms make scoring a bail bond easy as pie. One such payment form is collateral. Here’s how it works.
Get Your Gun & Get Out of Jail
Any item that can legally fetch money on the open market is a form of collateral. Smaller items are often called pawnshop-worthy items. This includes guns, jewelry and electronics. Larger, big-ticket examples are things like real estate and vehicles.
Collateral for Bail Bonds
A reputable, experienced bail bonds service in Arizona costs as least 10 to 15 percent the amount of the court’s full set bail. This cost is called a premium, a nonrefundable bond agent fee.
Bond agents accept traditional forms of payment for their fee, such as cash, credit, checks and transfers. They also accept collateral to cover part of or the whole cost of a bail bond. Thus, if a cache of premium firearms equals or exceeds the bail bond amount, the firearms can be used as payment.
Financing Bail Bonds
Some purveyors of bail bonds services in Peoria, AZ, offer financed bail bonds or bail bond loans that borrowers can repay later in installments. Occasionally, a mixture of collateral and financing can serve as both bail bond payment and a guarantee of full bail repayment should the defendant flee before trial.
Collateral also improves a defendant’s chances of procuring a bail bond if the defendant is unemployed, a flight risk or has prior convictions and bench warrants.
