Collateral Requirements for Bail Bonds in Detroit

Many people who have to bail friends or family members out of jail wonder if it is necessary to post collateral in order to get bail bonds in Detroit City. Most people do not need to worry about having to post collateral with the bail bond company. Under normal circumstances, the bail bondsman will not need clients to post any collateral to get a bail bond approved. The lack of collateral should not be a concern of most customers. However, collateral may be a concern when defendants are charged with serious crimes or when bail amounts are high.

In most cases, collateral is not needed. A signature from a guarantor is usually good enough. The guarantor is the person that will guarantee payment of the full amount of the bail bond if the defendant flees from the law. The bail bondsman simply needs to determine whether or not the guarantor is capable of paying the entire bail amount in the unlikely event that the defendant flees from the law. If the chances are high that the defendant will flee, the bail bondsman may require collateral or turn down the bail bond. Even if the chances of the defendant fleeing are low due to a job and family in the local community, the bail bondsman may still want collateral if the bail amount is very high. Companies that do bail bonds in Detroit will likely require collateral when bail amounts are high for any defendant.

If collateral is needed, many guarantors find that it is easy to meet collateral requirements. The bail bond company wants a lien on collateral so that it can be sold to help pay for the full bail in the event that the defendant flees. For example, a car can be used as collateral for a bail bond. The guarantor can keep using the car while it is collateral for the bail bond. However, the bail bond company can take the car if the bail bond needs to be paid. With even higher bail amounts, a real estate lien may be necessary to secure the bail bond. As long as the defendant continues to make all court appearances, the guarantor can keep using the house. When collateral is involved, guarantors need to make sure that they can trust the defendant to show up in court prior to agreeing to sign for the bail bond.