Bail Bonds

How Collateral Works When Securing a Bail Bond

When a person secures a bond to help a friend or family member, they have two ways of securing the bond. The first way is by paying a percentage of the full bail amount, typically 10%. The second way is by using collateral to secure the bond. The collateral must be at least the full value of the bond and must be owned by the person who is securing the bond. When collateral is used to secure Reno Nevada bail bonds, there are typically two outcomes that can occur.A bond includes an agreement between the bondsman and the person securing the bond. In this agreement, the person securing the bond assures that they will make sure the arrested person attends all hearings and avoids being arrested again. If the arrested person follows all of the terms and Your Reno Bail Bonds Specialist successfully completes all of their hearings, the person who secured the bond will receive their collateral back again. They will have to pay a service fee for obtaining a bond, but they will owe nothing further once the terms of the bond are completed.In some cases, the person who was arrested fails to complete the terms of the bond by missing one or more of their court hearings. If this happens, the person who secured the bond will forfeit their collateral and have to pay the fee for the services. If they do not want to forfeit the collateral, they may be able to pay the full bail amount instead and receive their collateral back. Most of the time, the secure the bond with collateral because they cannot afford the entire bail amount. For this reason, they should be careful about obtaining a bail bond using their home, vehicle, or another item as collateral.Obtaining a bail bond might be the only way they can help their friend or family member get out of jail until their hearings are completed. By obtaining a bond with collateral, the person risks losing the collateral if the terms of the bond are not followed. It's important they understand all of the terms and ask the bondsman any questions before obtaining the bond. This way, they can help ensure the arrested person follows the terms and they are abl