By KHTS Newsroom
If you are in need of a bail bond in Santa Clarita, collateral may sometimes be required to bail your loved one out of jail.
The Bail Resource Center & Career Academy defines collateral as “an item of value pledged to another person for the purpose of guaranteeing performance of an obligation.”
“A bail agent may require collateral in some cases,” said Inessa Chavez, vice president of All American Bail Bonds in Santa Clarita. “Not only does collateral provide added incentive to comply with the terms listed in the bail contract, it also gives the bail agent a source of funds to pay for losses if the these terms are violated.”
Related: Bail Bonds In Santa Clarita: Protect Yourself From Fraud
For instance, if a defendant fails to appear at all their scheduled court appearances, meaning they “skipped bail,” in order for the bail agent to exonerate the bond, they must attempt to find the person and return them to custody. If the agent cannot do so within six months, they are responsible for paying the full amount of the bail to the court, along with any additional court costs.
“In this case, the bail agent will recover the costs associated with the forfeiture of the bond from the indemnitor,” Chavez said. “This could be paid for in cash, or through the collateral collected when the contract was signed.”
Related: Bail Agents At All American Bail Bonds Discuss What The Gramm-Leach-Bliley Act Is
Personal property and real property are the two main forms of collateral.
Personal property includes cash, automobiles, mobile homes, water vehicles, aircrafts, stocks and bonds, savings accounts, life insurance policies, businesses and other personal property like jewelry. Real property includes residential property, commercial and industrial property and agricultural property.
“At All American Bail Bonds in Santa Clarita, we can use collateral to lower payments and extend the length of payment plans,” Chavez said. “If you can’t afford to pay the bail bond premium upfront, we also offer interest-free payment plans or a 20 percent rebate to those who qualify.”
“With Us You Are Never Alone”
23360 W. Valencia Blvd. #E
Santa Clarita, CA 91355
661-255-2245
Call Toll Free: 888-755-2245
24 hours a day — 7 days a week
If your loved one is in custody and they wish to talk to an All American Bail Bonds representative, call:
818-990-0003 or 661-267-6777
CLIENT.SERVICES@ALLAMERICANBAILBONDS.COM